It is calculated without making deductions for depreciation of fabricated assets or for … 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. World Economics makes available of world’s most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2019, building on the lifetimes work of Angus Maddison. Ethiopia - the second most populous country in Africa - is a one-party state with a planned economy. Though Ethiopia real GDP growth fluctuated substantially in recent years, it tended to increase through 2001 - 2020 period ending at 1.9 % in 2020. IMF Office in The Federal Democratic Republic of Ethiopia Office Information. Modify your profile. The industry and service sectors led to the growth in the economy. GDP per Capita in Ethiopia (with a population of 106,399,924 people) was $542 in … Ethiopia's economy grew 6.1% in the 2019/20 fiscal year to July, less than originally projected because of the impact of the coronavirus pandemic, Prime Minister Abiy Ahmed said on Monday. Gross domestic product (GDP) denotes the aggregate value of all services and goods produced within a country in any given year. Ethiopia forecasts economic growth will accelerate to 10.8% for the fiscal year ending in July underpinned by its reforms, from 9% in the previous year, according to the National Bank of Ethiopia. 2015. Merchandise exports growth rate in 2019. 8.50 %. World Bank national accounts data, and OECD National Accounts data files. World Bank national accounts data, and OECD National Accounts data files. Additionally, rising new Covid-19 cases globally will likely hamper the external sector and further weaken foreign demand, thereby dragging on the economy in the quarter. GDP growth (annual %) - Ethiopia. 2019. Email notification sign-up. Also Show. Ethiopia's economy is expected to grow at a faster pace in its 2019/20 fiscal year from the previous year, helped by improvements in its financial sector, its central bank said. The Trading Economics Application Programming Interface (API) provides direct access to our data. source: World Bank 10Y 25Y Nominal (current) Gross Domestic Product (GDP) of Ethiopia is $80,561,496,134 (USD) as of 2017. The gross domestic product (GDP) measures of national income and output for a given country's economy. Ethiopia; Gross Domestic Product; Exclude Filters Reset ... Not Seasonally Adjusted 1950 to 2019 (Feb 5) Gross Domestic Product Per Capita for Ethiopia . At Fitch Solutions, we believe that economic growth in Ethiopia will remain robust in the long term, remaining one of the fastest-growing economies in East Africa. Find Out, Online tool for visualization and analysis. Ethiopia - GDP Midway through the second quarter of FY 2020 (8 July 2020–7 July 2021), the economic panorama remains grim. 2010. IMF also praised Ethiopia’s remarkable progress, which has led to a significant reduction in poverty and … GDP Annual Growth Rate in Ethiopia averaged 5.88 percent from 1981 until 2020, reaching an all time high of 13.90 percent in 1986 and a record low of -11.10 percent in 1984. 112.079 Millions . The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time. 29.070 ETB/US$ 95 197 Millions current US$ Land area ¹. CPI growth. Sign up to receive free e-mail notices when new series and/or country items are posted on the IMF website. Ethiopia has the highest economic growth rate of 194 countries tracked by the fund. The World Bank placed the country second only to Nauru for average growth rate between 2009 and 2018. INTERNATIONAL MERCHANDISE TRADE +2.1 %. GDP. 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