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Indicators of economy in Ethiopia

The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,183 USD per capita. GDP in Ethiopia, on the other hand, reached USD 925 per capita, or 111.27 billion USD for the whole country. Ethiopia is therefore currently ranked 60 of the major economies. If this is calculated per inhabitant, taking purchasing power parity into account, then Ethiopia ranks 168th in the list of the richest countries.

Inflation in Ethiopia in 2021 was around 26.84%. Within the EU, the average in the same year was 9.22 percent. In the United States, it was most recently 8.00%.

The index for perceived corruption in the public sector is 38, which is below average by global standards.


Back to overview: Ethiopia

Impact of the COVID-19 pandemic

Overall, the gross domestic product in Ethiopia in 2020 increased from 95.91 billion US dollars to 107.66 billion US dollars. Certainly, there have been shifts in numerous sectors of the economy, but a 12.25 percent increase has been rather unusual this year. While most countries have suffered significant losses, Ethiopia has certainly held its own. The tourism sector alone slumped by around 35 percent. The unemployment rate rose from 3.2 to 4.1 percent. The consumer inflation rate has risen from 15.8 percent previously to 20.4 percent now.

Income and purchasing power

The average monthly income in Ethiopia is 78 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. However, the prices of consumer goods are also around 70.1 percent lower than in the USA. If you compare income and price levels, the result is a more expensive life in Ethiopia than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 95.6 percent less.

However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.

Unemployment rates in percentages 1991 - 2022

Economic performance 2021

 Ethiopia
Total		Ethiopia
per capita		EU
Total		EU
per capita
GDP111.27 bn USD925.08 USD17.177 tn USD33,384.92 USD
Gross national product113.59 bn USD944.38 USD16.895 tn USD32,835.37 USD


In the Global Innovation Index, Ethiopia ranked 117th in 2022 with 16.3 points. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. The top country was Switzerland with 64.6 points.

Development of gross domestic product in billions of USD 1981 - 2021


› Development of inflation
› Corruption in Ethiopia
› Cost of living in a global comparison


Imports and Exports 2021

 Ethiopia
Total		Ethiopia
per capita		EU
Total		EU
per capita
Imports17.17 bn USD142.74 USD8.916 tn USD17,329.02 USD
Exports7.71 bn USD64.14 USD9.554 tn USD18,569.19 USD


Development of imports and exports in billions of USD 1977 - 2021

Exports
Imports



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