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Ethiopia

Includes historical data for Ethiopia’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.

Africa’s Preferred FDI Destination

Ethiopia, Africa’s oldest independent nation and the second most populous country after Nigeria, boasts a young and growing population of almost 110 million. With its large consumer markets, low-cost labor, global connectivity through its aviation hub and a national airline with approximately 125 passenger connections, Ethiopia is a preferred destination for foreign direct investment (FDI) on the continent. Owing to its reform-minded government, Ethiopia also has a remarkable track record in growth and poverty reduction, as well as in public investment in infrastructure development. A signatory to the Paris Agreement on Climate Change, the country aims to build a green, resilient and diversified economy through investments in hydroelectric power, tourism and digital technologies, among others.

Still, challenges persist. A landlocked nation with over 90% of exports passing through neighboring Djibouti, Ethiopia faces logistical bottlenecks, high land transportation costs, and bureaucratic delays. The underdeveloped banking system hinders private sector growth, and the country struggles to develop exports beyond primary commodities. Agriculture, which provides the majority of employment, is sensitive to weather conditions and changes in world commodity prices. Other weaknesses include insufficient power supply and an unstable regional environment with high ethnic and political tensions.

Macroeconomy & Sovereign Data

Type of Government Federal parliamentary republic
Capital Addis Ababa
Sovereign Ratings S&P: Selective default
Moody’s: Caa3
Fitch: Restricted default
Total Population 107.4 million
Median Age 19.0
Adult Per Capita Income (PPP) 5,607.53
Total GDP (2023) 205.1 billion

Ethiopia GDP & Economic Overview

Most Recent Content

Banking & Finance

Trade & Investment

Total Exports USD 8.9 billion (2023)
Leading Exports Coffee
Gold
Sesame Seeds
Vegetables
Cut Flowers
Aircraft Parts
Total Imports USD 5.1 billion (2022)
Leading Imports Aircraft
Gas Turbines
Packaged Medicines
Electric Filament
Cars
Source: World Integrated Trade Solution

Ethiopia Leading Companies

Commercial Bank of Ethiopia Financials
Bank of Abissinia Financials
Metal Engineering Corporation Materials, Metals & Mining
Ethiopian Electric Power Utilities
Ethiopian Airlines Airlines
Ethiotelecom Telecommunication Services
Webuild Group Ethiopia Construction & Engineering

Major Trade Partners — Import

China 26%
India 16%
United States 8%
Türkiye 5%
Malaysia 4%

Source: World Integrated Trade Solution

Major Trade Partners — Export

Somalia 12%
United States 11%
Germany 8%
Netherlands 8%
Saudi Arabia 7%

Source: World Integrated Trade Solution


Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings

Moody’s

Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000

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