Ethiopia economic growth

Gaandheri

Gaandheri

Seems like Ethiopia is following the Chinese economic plan a mixed-socialist economy.
www.yahoo.com

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www.worldbank.org

Overview

The World Bank is helping to fight poverty and improve living standards in Ethiopia. Goals include promoting rapid economic growth and improving service delivery.
www.worldbank.org
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Burqad

Burqad

Ethiopia’s economy is actually half the size they claim. The government measures using the official Birr to dollar while the actual birr is half the price.
 
I

Idilinaa

This goes to show how GDP is not really a good metric in seeing overall how good an economy is doing and a country's standard of living.

Ethiopians report worsening economic conditions, increased poverty levels, Afrobarometer survey shows ​

Ethiopians report worsening economic conditions, increased poverty levels, Afrobarometer survey shows. About two-thirds (65%) of Ethiopians describe the country's economic condition as “fairly bad” or “very bad,” up from 44% in 2020 (Figure 1).
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Ethiopia's economy is plagued with problems and it's actually on a decline. Two years of devasting war , deadliest in recent times killing 600.00 , lost billions of foreign investments due to widespread human rights abuses. Even the US ended it's tariff-free access to its market, which tanked many of the textile jobs. Severe drought, locus infestations decimating farmland , rising food costs due the Ukrain war pushed it's inflation up as well worldwide prolly worse for Ethiopia.

There is rampant trade imbalance.

Samson Berhane, an Ethiopian economic analyst. “We still have a huge imbalance of payment deficit. Our export is not even $4 billion, while our import is more than $18 billion. So we have a trade deficit of $14 billion.”
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Heck the govt is increasingly relying on remittances which is even exceeding the export sector. Unlike the Chinese economy being manufacturing and industrial based, . Ethiopian economy is fundamentally rural and agricultural. Agricultural employees account for more than 85 percent of total population and the sector which is contributing to keeping it underdeveloped.

Bank of Ethiopia data shows that remittances reached $4.5 billion in 2019, accounting for some 5% of the country’s GDP and exceeding revenues earned by the export sector.
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Ethiopia economy is tanking so much that it defaulted on 33 million debt payment.
 
Nin123

Nin123

The most hated man in here
VIP
Idilinaa said:
This goes to show how GDP is not really a good metric in seeing overall how good an economy is doing and a country's standard of living.

Ethiopians report worsening economic conditions, increased poverty levels, Afrobarometer survey shows ​



Ethiopia's economy is plagued with problems and it's actually on a decline. Two years of devasting war , deadliest in recent times killing 600.00 , lost billions of foreign investments due to widespread human rights abuses. Even the US ended it's tariff-free access to its market, which tanked many of the textile jobs. Severe drought, locus infestations decimating farmland , rising food costs due the Ukrain war pushed it's inflation up as well worldwide prolly worse for Ethiopia.

There is rampant trade imbalance.



Heck the govt is increasingly relying on remittances which is even exceeding the export sector. Unlike the Chinese economy being manufacturing and industrial based, . Ethiopian economy is fundamentally rural and agricultural. Agricultural employees account for more than 85 percent of total population and the sector which is contributing to keeping it underdeveloped.



Ethiopia economy is tanking so much that it defaulted on 33 million debt payment.
Click to expand...
Still 100 times better than Somalia economy.
 
lahaine

lahaine

Ethiopia has huge potential it's just that the three major ethnic groups love killing each other and oppressing minorities more than developing their country.
 
Pastoralist

Pastoralist

Zak12 said:
Not even close. Its GPD per capita is still awful. Even fucking Palestine is richer than Ethiopia lol
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Ethiopia airlines>everything Somalia can offer in revenue. They have an ongoing war as intense as ours and they have higher growth rate. 120mil is harder to manage too, Somali’s are such waste for not using their ports as a gateway to Africa. But I know who’s to blame so let me not digress.
 
Z

Zak12

Pastoralist said:
Ethiopia airlines>everything Somalia can offer in revenue. They have an ongoing war as intense as ours and they have higher growth rate. 120mil is harder to manage too, Somali’s are such waste for not using their ports as a gateway to Africa. But I know who’s to blame so let me not digress.
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Of course Ethiopia's economy is better than Somalia's in every metric but not by 100 times lol. its still doing very badly despite all the aid it recieves.

Also, Somalia has been in war for over 30 years and has been heavily sanctioned. Not at all comparable to Ethiopia which is way more stable
 
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