This growth was driven by government investment in infrastructure, as well as sustained. Interestingly, structural economic reforms have been largely absent from ethiopias recent story of. Despite this success, current gender gaps show that challenges remain to realizing inclusive growth and the full potential of womens economic empowerment. The world bank is helping to fight poverty and improve living standards in ethiopia. This annual report is issued at a time when most regions of the global economy are showing signs of recovery, with the prospect for further growth over the medium term remaining positive despite lingering downside risks. Ethiopias managed float exchange rate foresees a 5%6% annual depreciation to adjust for inflation differentials with trading partners. The ethiopian economy continued its strong expansion in fy14 with real gdp growing by 10. Growth was driven mainly by the services sector from the supply side and public investment from the demand side. Home to more than 100 million people and with high population growth rates, it is projected to be among the worlds 10 most populous countries by 2050. Although the blue nile is much shorter than the white nile, it contributes about 80% of the flow of the river. Binyam teshome world bank the world bank group wbg, with private and public sector partners, set an ambitious target to achieve universal financial access ufa by 2020. Ethiopia is one of the fastestgrowing economies in the world. No derivative worksyou may not alter, transform, or build upon this work. Growth should benefit from the homegrown economic reform program, which seeks to address macroeconomic imbalances and unlock structural.
Ethiopia figure 1 ethiopia real gdp growth and contributions to real gdp growth figure 2 ethiopia actual and projected poverty rates and real gdp per capita source. Learn how the world bank group is helping countries with covid19 coronavirus. But there is wide variation in account ownership among economies map 1. Ethiopia, one of the world s fastest growing economies in 2017, is projected to maintain sustainable growth in the medium term, according to the latest economic analysis for the country the economic update also highlights reform priorities to realize ethiopia s industrial goals. Figure 1 ethiopia real gdp growth and contributions. In developing economiesthose classified by the world bank as low or middle incomethe share is 63 percent. Productive capacity and economic growth in ethiopia the united. The world development indicators is a compilation of relevant, highquality, and internationally comparable statistics about global development and the fight against poverty. The economy is a potential juggernaut, posting a 10 percent gdp growth rate in 2017, according to the world bank. High inflation has, however, contributed to overvaluation of the ethiopian birr despite the 15% devaluation in 2017, necessitating a gradual shift to a more competitive exchange rate. Ethiopia socioeconomic survey 20152016, wave 3 world bank. A homegrown reform agenda was launched to address the buildup in inflation and persistent foreign exchange shortages.
Growth model for djibouti, world bank, 20 forthcoming. At the top left, the capital city of sudan, khartoum, is located at the convergence of the blue nile and the white nile. 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 economic growth while the economy is expected to lose considerable traction in fy 2019, growth is expected to regain strength in fy 2020, buttressed by stronger investment activity and infrastructure spending. Industry, mainly construction, and services accounted for most of the growth. This report, the ethiopia gender diagnostic, presents evidence on the mechanisms underlying gender gaps in the ethiopian workforce. Growth was driven mainly by the services sector from the. In ethiopia, women account for a disproportionate share of the unbanked, and the gap is widening.
World bank and imf policy to most part is not pro working class or middle. The team would also like to express gratitude to cybil maradza consultant for the design and layout. Ethiopian peopleos revolutionary democratic front eprdf overthrew the junta in 1991 and established a. The dahlak archipelago is seen off the red sea coast of eritrea. The government of ethiopia is in the process of privatizing many of the stateowned businesses and moving toward a market economy. The world bank says ethiopias economy will be the most expansive on the continent for the year 2017 followed by tanzania, ivory coast and senegal in that order. The world bank greatly appreciates the close collaboration with the government of ethiopia the ministry of finance and economic cooperation, in particular in the preparation of this report.
Economist and cottl, mesfin girma economist and cottl, ruth hill sr. In an annual report released in august 2017, the agency. Ethiopias real gross domestic product gdp growth decelerated to 7. Ethiopia has achieved significant progress in economic growth and human development. Not seasonally adjusted 1994 to 2017 mar 20 number of bank branches for ethiopia. The indicators in the 2017 global findex database are drawn from survey data covering almost 150,000 people in 144 economiesrepresenting more than 97 percent of the world s population see table a. World bank group 20141001 this economy profile for doing business 2015 presents the 11 doing business indicators for ethiopia. Ethiopia country partnership framework world bank consultations. Sudan electricity transmission network data catalog. Ethiopia the second most populous country in africa is a oneparty state with a planned economy. Ethiopia economic outlook african development bank. Bordering eritrea, somalia, kenya, south sudan, and sudan, ethiopia is landlocked, and has been using neighboring djiboutis main port for the last two decades. We are in the process of hearing your views regarding ethiopias priorities and the role the world bank group can play in helping the country achieve its development goals.
Noncommercialyou may not use this work for commercial purposes. Ethiopia s real gross domestic product gdp growth decelerated to 7. The report was prepared by a team consisting of mesfin girma. It is with great pleasure that i present the 2017 annual report of the africa group 1 constituency at the world bank group wbg.
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. Growth and structure of the ethiopian economy sector share in gdp growth rates. The world bank group is preparing a country partnership framework 2017 2021 to guide its support to ethiopias development efforts. Oct 26, 2017 ethiopias economy is concentrated in the services and agriculture sectors. Percent of people ages 15 and above, annual, not seasonally adjusted 1994 to 2017 mar 20 number of bank branches for ethiopia number per 100,000 adults, annual, not seasonally adjusted 2004 to 2012 20180921.
Trade and competitiveness issues are integral to economy wide efforts to spur growth, productivity, and job creation. 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. Ethiopia s economy experienced strong, broadbased growth averaging 9. World bank group launches its 5th economic update for ethiopia. Ethiopia s economy is predominantly cash based and financial inclusion. The paper starts with an overview of ethiopias economic growth and the change in the domes tic economic. The world economy continued to face serious headwinds in 2015, resulting in growth of 2. Underlying data compiled by africon for aicd study 2009 with input from the ethiopian roads authority. Annual economic report ethiopian economic association. Ethiopias location gives it strategic dominance as a jumping off point in the horn of africa, close to the middle east and its markets. In 2015, ethiopia s largest export sector was vegetable, with 62. A world bank group flagship report june 2017 global. Number per 100,000 adults, annual, not seasonally adjusted 2004 to 2012 20180921.
Ethiopia economy gdp, inflation, cpi and interest rate. Challenges of sustaining ethiopias foreign exchange earnings from exports and remittances report on the ethiopian economy 2018. Apr 28, 2020 on a more positive note, in early april the world bank approved usd 83 million in emergency funds for the country. Escalating impacts of covid w9 is expected to result in a sig.
The economic outlook is positive, and real gdp growth is projected to stabilize at 7. The gross domestic product gdp in ethiopia was worth 94 billion us dollars in 2019, according to official data from the world bank and projections from trading economics. The ufa goal envisions that, by 2020, adults globally will be able to have access to a transaction account or. 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. The data in this report are current as of june 1, 2016 except for the paying taxes indicators, which cover the. In ethiopia, women still lag men on several important economic indicators, including employment rate, agricultural productivity, earnings from selfemployment, and wage income. Ethiopia has achieved substantial progress in economic, social and. The ethiopian economy grew by 8 in 201516 due to the recent drought affecting agricultural production with spillovers on the trade sector. The data in this report are current as of june 1, 2016 except for the paying taxes indicators, which cover the period januarydecember 2015. Inding new paths for growth in djibouti world bank.
World bank, the heritage foundation, world economic forum wef, transparency international. The ethiopian economy is estimated to have slowed down slightly to 8. Against a backdrop of falling commodity prices, subdued global trade, financial market volatility and weakening capital flows, economic. Over the last ten years, the country has achieved doubledigit growth in real terms, averaging 10. Construction and services sectors account for most of the growth from the supply side. Economist and cottl, mesfin girma economist and cottl, ruth. Socioeconomic survey 20152016, wave 3 ethiopia, 2015. World bank lauds ethiopias economic growth in a report. Direct contributors to the report were for chapter 1. Mar 22, 2017 ethiopia ethiopianile basin initiative power export project. Ethiopias economy experienced strong, broadbased growth averaging 9. Browse additional economic indicators and data sets, selected by global finance editors, to learn more about ethiopia.
As a result of equityfocused development agenda, the. Selected economic and social indicators annual frequency. The cutoff date for information in this mpo was april 02, 2020. Creative commons attributionnoncommercialnoderivatives 3. The staff report for the 2017 article iv consultation, prepared by a staff team of the imf for the executive boards consideration on january 12, 2018, following discussions that ended on september 26, 2017, with the officials of the federal democratic republic of ethiopia on economic developments and policies. Ethiopia aims to reach lowermiddleincome status by 2025. The world bank team welcomes feedback on the ethiopia economic update. Growth in ethiopia remained robust in fy w9 thanks to a strong service sector performance. The date of the last country partnership strategy progress report. Challenges of sustaining ethiopia s foreign exchange earnings from exports and remittances report on the ethiopian economy 2018. Key challenges relate to poor export performance ethiopia s growth has been driven by investment followed by private consumption and weak trade balance, which reflect the lack of external competitiveness and the vulnerability to termsoftrade shocks. Wages and employment in a crowded labor market is the latest programmatic knowledge product prepared by the world bank group as a part of its economic policy dialogue with the government of ethiopia.
The economy of ethiopia is a mixed and transition economy with a large public sector. World bank national accounts data, and oecd national accounts data files. 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. However, the banking, telecommunication and transportation sectors of the economy are dominated by governmentowned companies. The database contains 1,600 time series indicators for 217 economies and more than 40 country groups, with data for many indicators going back more than 50 years. Ethiopia s economic growth has been remarkably rapid and stable over the past decade. Growth and transformation through the manufacturing sector the growth and transformation plan gtp seeks to transform the economy toward an industrialized economy and to increase per capita income of its citizens by 2025. 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. National bank of ethiopia 4 2017 18 annual report i. Account ownership around the world account ownership is nearly universal in highincome economies, where 9 4 percent of adults have an account. No derivative worksyou may not alter, transform, or build upon.
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. There is economic growth in ethiopia, but it is far behind addressing the abject poverty down in the economic ladder. Ethiopian economy will be africas most expansive in 2017. Largescale and unprecedented protests swept through ethiopia s largest region of oromia beginning in november 2015, and in the amhara region from july 2016.
The malawi country procurement assessment report is a joint undertaking between the malawi government and the world bank to analyze the country procurement system and recommend appropriate actions to improve the efficiency, economy and transparency of the system. 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. To allow for useful comparison, the profile also provides data for other selected economies comparator economies for each indicator. World development indicators wdi is the primary world bank collection of development indicators, compiled from officially recognized international sources. Gross domestic product 2018 millions of ranking economy us dollars cub 64 cuba 96,851 lka 65 sri lanka 88,901 ken 66 kenya 87,908 dom 67 dominican republic 85,555 eth 68 ethiopia 84,356 omn 69 oman 79,277. Goals include promoting rapid economic growth and improving service delivery. The projects development objective is to promote ethiopias power export revenue generation capacity through the development of regional trade opportunities in the context of the nile basin initiative regional effort.
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