As this years poverty and shared prosperity report documents, the world. Growth was driven mainly by the services sector from the supply side and public investment from the demand side. Ethiopias location gives it strategic dominance as a jumping off point in the horn of africa, close to the middle east and its markets. This report is part of the world banks technical assistance project on. Economist and cottl, mesfin girma economist and cottl, ruth hill sr. With about 109 million people 2018, ethiopia is the second most populous nation in africa after nigeria, and the fastest growing economy in the region. Historically the ethiopian economy has been vulnerable to climate fluctuations figure 7. It is based on the information available at the time it was completed on september 5, 2014. By 2006, however, this figure had fallen to 70 percent. With 189 member countries, staff from more than 170 countries, and offices in over locations, the world bank group is a unique global partnership. While growth is expected to be slower in the near term, economic measures under the homegrown reform program are expected to set the foundations for a more balanced and stronger economy in the future. In the report the world bank shows past, present and forecasted data for the most of the countries in the world.
To allow for useful comparison, the profile also provides data for other selected economies comparator economies for each indicator. Overview of ethiopian economy this chapter presents economic growth history of ethiopia. Selected economic and social indicators annual frequency. Learn how the world bank group is helping countries with covid19 coronavirus. Chapter 2 of this report will analyze these issues in more detail. Productive capacity and economic growth in ethiopia. The following is a basic introduction to the 79 page complete report which we provided a link for you to take a look. It is commendable to hear these days that the world bank and the imf offices in ethiopia are arguing for more private sector role in the ethiopian economy. Copies of this report are available to the public from. World bank lauds ethiopias economic growth in a report. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgement on the part of the world bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. The report was prepared by a team consisting of mesfin girma. The expansion of agriculture, construction and services accounted for most of this, with modest manufacturing growth. For more than a decade before 2016, ethiopia grew at a rate between 8% and 11% annually one of the fastest growing states among the 188 imf member countries.
Ethiopia leads africa in economic growth and fast expansion. Abstract the urban population in ethiopia is increasing rapidly. Document, implementation completion report, legal agreements, project files and archives, as well as other relevant reports, memoranda, and working papers. Apr 21, 2020 the ethiopia socioeconomic survey ess is a collaborative project between the central statistics agency of ethiopia csa and the world bank living standards measurement studyintegrated surveys on agriculture lsmsisa team. The forecasts presented in the report draw on the world economic. United nations conference on trade and development, the five. Apr 25, 2017 ethiopia has an agriculturebased economy, wherein the agricultural sector accounts for 46. This work is a product of the staff of the world interpretations, and conclusions expressed in this work do not necessarily reflect the views of the world bank, its board of executive. Chinese foreign direct investment fdi into africa is on the rise and ethiopia is at the forefront of this trend.
Data on statistical capacity the world banks statistical capacity indicator is a composite score assessing the capacity of a countrys statistical system. Aided by strong growth in the banks lending operations, pretax profits rose to just above birr 200 million. Economy profile of ethiopia doing business 2020 indicators in order of appearance in the document starting a business procedures, time, cost and paidin minimum capital to start a limited liability company dealing with construction permits procedures, time and cost to complete all formalities to build a warehouse and the quality control and. Country report 2017 includes ethiopia real gross domestic product growth rate, with latest forecasts and historical data, gdp per capita, gdp composition and breakdown by sector. Ethiopia the second most populous country in africa is a oneparty state with a planned economy. The report includes countryspecific threeyear forecasts for major macroeconomic indicators, including commodity and financial markets. Ethiopia aims to reach lowermiddleincome status by 2025. Ethiopia s economy experienced strong, broadbased growth averaging 10.
An analysis of recent economic growth and potential. Ethiopia economic fact sheet embassy of the united states addis ababa ethiopia thousand fixed telephone lines, 221 thousand internet and birrusd exchange rate fy1112 fy12 average annual 17. The ethiopian economy continued its strong expansion in fy14 with real gdp growing by 10. The dahlak archipelago is seen off the red sea coast of eritrea. The world bank cut its forecast for ethiopia s economic growth in the 2020 fiscal year to 6. Goals include promoting rapid economic growth and improving service delivery. Productive capacity and economic growth in ethiopia the united. African economic research consortium, and ethiopian economic association for allowing to publish some o f the chapters in this book. The african development bank, the oecd development centre and the united nations development programme partner to produce this annual report. The report advocates the adoption of modern distribution channels and procurement systems that slash transaction costs, ease market exchanges and facilitate the inclusion of smallholder farmers in modern distribution chains, explained nora dihel, world bank senior economist and a coauthor of the economic update. The team would also like to express gratitude to cybil maradza consultant for the design and layout. The world bank public disclosure authorized ethiopia. Ethiopias economy experienced strong, broadbased growth. The 2019 world development report is unique in its transparency.
Apr 27, 2016 an enterprise survey is a firmlevel survey of a representative sample of an economy s private sector. An ieg field mission visited ethiopia in september 2007, conducted site visits, and discussed both the. The agriculture sector has historically been the engine of the ethiopian economy, but it has recently given way to the expansion of the service sector. Abstract this economy profile for doing business 2016 presents the 11 doing business indicators for ethiopia. Industrialization and industrial policy in ethiopia. The report advocates the adoption of modern distribution channels and procurement systems that slash transaction costs, ease market exchanges and facilitate the inclusion of smallholder farmers in modern distribution chains, explained nora dihel, world bank senior economist and a coauthor of the economic.
The share of industry in gdp includes that of manufacturing. Ken 66 kenya 87,908 dom 67 dominican republic 85,555 eth 68 ethiopia 84,356 omn 69 oman 79,277. This report, the ethiopia gender diagnostic, presents evidence on the mechanisms underlying gender gaps in. Ethiopia s location gives it strategic dominance as a jumping off point in the horn of africa, close to the middle east and its markets. The ethiopian economy is estimated to have slowed down slightly to 8. The world economy continued to face serious headwinds in 2015, resulting in growth of 2.
Ranking economy us dollars usa 1 united states 20,544,343. Browse additional economic indicators and data sets, selected by global finance editors, to learn more about ethiopia. On request of the government, the world bank surveyed 69 chinese enterprises doing business in ethiopia with a 95question survey in mayjune 2012. World economic situation and prospects 2020 the united nations. Perceptions, realities, and the way forward for key sectors, is an extraordinary, unprecedented and pathbreaking work of policy analysis on corruption ever done by the bank anywhere to my knowledge. The manufacturing sector is seen as the success of ethiopia s growth.
Open finances explore raw data about the world bank groups finances, including disbursements and management of global funds. The stark contrast between rural subsistence farming in ethiopia and the sprawling city of addis ababa. Ethiopia international development association world bank. The world banks global economic prospects brief was published on june 4, 2017. The ess survey report provides information on the major findings of the survey. Ethiopia s economic growth has been remarkably rapid and stable over the past decade.
Meanwhile, the share of assets held by private banks increased from 6. At the top left, the capital city of sudan, khartoum, is located at the convergence of the blue nile and the white nile. Directors report financial performance zemen bank completed the 201415 year with continued growth in most areas of activity, and with revenues and profits reaching their highest levels since the banks founding seven years ago. Recent economic developments strong economic growth continued in 201415, but the drought slowed down ethiopias growth to 8 percent in 201516. A team of over 100 researchers, economists, statisticians and other experts from africa and other regions of the world. A homegrown reform agenda was launched to address the buildup in inflation and persistent foreign exchange shortages. Escalating impacts of covid w9 is expected to result in a sig. World development report 2019 world bank documents.
World bank group praises ethiopia on its fifth ethiopia. Data learn how the world bank group is helping countries with covid19 coronavirus. Figure 1 ethiopia real gdp growth and contributions. The paper starts with an overview of ethiopia s economic growth and the change in the domes tic economic structure. Construction and services sectors account for most of the growth from the supply side. Growth was driven mainly by the services sector from the. The world bank team welcomes feedback on the ethiopia economic update. The ethiopian economy grew by 8 in 201516 due to the recent drought affecting agricultural production with spillovers on the trade sector. Gender filter for the world bank group ethiopia portfolio. The national bank of ethiopia has forecast that gross. The method was presented in the first world development report world bank. Ethiopia economic analysis of governments policies. Transport sector development in ethiopia performance, policies and its role in the economy. If managed proactively, urban population growth presents a huge opportunity to shift the structure and location of economic activity from rural agriculture to the larger and more diversified urban industrial and service sectors.
World development indicators wdi is the primary world bank collection of development indicators, compiled from officially recognized international sources. Ethiopia has experienced remarkable economic success in recent years. Economic highlights o ethiopia s fy2012 gdp growth was 9. The world bank annual report 2017 was produced by the world bank groups external and corporate relations unit, led by jeremy hillman in the corporate communications department, with editorial coordination by daniel nikolits, and key contributions from marjorie bennington, denise bergeron. Growth in ethiopia remained robust in fy w9 thanks to a strong service sector performance. The development economics and data group decdg of the world bank is. This growth was driven by government investment in infrastructure, as well as sustained. The analysis of this report shows that climate variabil ity will increase. The world bank is helping to fight poverty and improve living standards in ethiopia. Ministry of finance and economic development, ministry of water and energy, central period end 17. In may 2017, the central bank of nigeria introduced a new investor. Private sector development in ethiopia with particular emphasis to the manufacturing sector.
World bank national accounts data, and oecd national accounts data files. The 2012 world bank report, diagnosing corruption in ethiopia. There is economic growth in ethiopia, but it is far behind addressing the abject poverty down in the economic ladder. Ethiopias central bank, the national bank of ethiopia nbe fails to be independent from the political party in power. Addis ababa, june 11, 2018 ethiopia s gdp growth will decelerate to 9. The economic outlook is positive, and real gdp growth is projected to stabilize at 7.
Socioeconomic survey 20152016, wave 3 ethiopia, 2015. Discussions were also held with bank staff in both washington d. World bank and imf policy to most part is not pro working class or middle. Document of the world bank report no 62834 public disclosure authorized project performance assessment report ethiopia fertilizer support project idagrant h4420et, idacredit 4543et under the ethiopia emergency food crisis response program and the global food crisis response program june 28, 2011 ieg public sector evaluation. Against a backdrop of falling commodity prices, subdued global trade, financial market volatility and weakening capital flows, economic. Commercial bank of ethiopia, the development bank of ethiopia, and the construction and business bank accounted for 94 percent of the assets of ethiopian banks. Why is the world bank bothering the government of ethiopia on.
Ethiopia a growth miracle ethiopia investment commission. As discussed in chapter three a number of factors including investment, trade, economic policy, institution and many others affect economic performance of countries. Those who are dreaming, planing, colabrating, and working hard to stop the ethiopian miraculous ethiopian economic growth are strongly adviesed to quit befor their efforts turn to thier demise. Ethiopian way by the world bank in one of the most extensive studies on ethiopia s recent growth and development policies. Ethiopia global economic prospects examines trends for the world economy and how they affect developing countries. Since 20052006, most data collection efforts have been centralized within the enterprise analysis unit. Ethiopia socioeconomic survey 20152016, wave 3 world bank. According to official statistics, during the ten fiscal years ending june 2016, ethiopia s gdp averaged 10. Ethiopia has a mixed market economy, which means businesses are owned by both the public and private. Although the blue nile is much shorter than the white nile, it contributes about 80% of the flow of the river. Global economic prospects january 2018 subsaharan africa 9 production, and a weaker dollar. Annual economic report ethiopian economic association. To allow useful comparison, it also provides data for other selected economies comparator economies for each indicator.
Low inflation is another sign of economic resilience and inflation is remarkable. New the data from the 20112012 ethiopia rural socioeconomic survey, the 202014 ethiopia socioeconomic survey and the 20152016 ethiopia socioeconomic survey are now available for downloading free of charge. According to the released report the ethiopian economy has been growing by leaps and bounds leaving most of the african countries way behind. For more than a decade before 2016, gdp grew at a rate between 8% and 11% annually one of the fastest growing states among the 188 imf member countries. Ethiopian based progressive and modern banking institution, endowed with a strong financial structure and strong management, as well as a large and everincreasing customers and correspondent base. Ethiopia the human capital index hci database provides data at the country level for each of the components of the human capital index as well as for the overall index, disaggregated by gender. In fact the government seems to take itself as the only one that can bring. National bank of ethiopia 4 201718 annual report i.
African economic outlook 2016 african development bank. Empirical evidence presented in the report suggests that a 10 percent lower real exchange rate could increase export. Bordering eritrea, somalia, kenya, south sudan, and sudan, ethiopia is landlocked, and has been using neighboring djiboutis main port for the last two decades. Annual report on the ethiopian economy ethiopian economic. According to a new report by the world bank, the ethiopian economy has been growing at twice the rate of the rest of africa, averaging, 10. The world bank does not guarantee the accuracy of the data included in this work. Independent evaluation group, project performance assessment report 6172. The world bank says ethiopia s economy will be the most expansive on the continent for the year 2017 followed by tanzania, ivory coast and senegal in that order. The national bank of ethiopia nbe notes agriculture, industry and services have contributed 35%, 27% and 39% to gdp respectively during the 201718 ethiopian fiscal year as opposed to 36. Firmlevel surveys have been conducted since 1998 by different units within the world bank. Abstract this economy profile presents the doing business indicators for ethiopia.
The index measures the amount of human capital that a child born today can expect to attain by age 18, given the risks of poor health and poor. According to official statistics, ethiopia s gross domestic product gdp is estimated to have rebounded to 10. Economic sectors with the potential to generate more and betterquality jobs in addis ababa. Ethiopian economy will be africas most expansive in 2017.