According to the IMF, Ethiopia was one of the fastest growing economies in the world, registering over 10% economic growth from 2004 through 2009. It was the fastest-growing non-oil-dependent African economy in the years 2007 and 2008. Growth has decelerated moderately in 2012 to 7% and is projected to be 6.5% in the future – reflecting weaker external demand and an increasingly constrained environment for private sector activity.
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Published on April 19, 2017
Ethiopia attracted foreign investments of US$1.2bn in the first six months of the 2016/17 fiscal year, with these financial injections dominated by major Chinese companies – half of which are licensed in textile and garment manufacturing.
Investors include the Jiangsu Sunshine Group, which engages in wool textiles and garments as well as a range of other sectors. The company has decided to invest close to US$1bn in Ethiopia, according to the Ethiopian Investment Commission, starting by preparing the human resources ground and opening a training academy to improve the skill-set of Ethiopia's textile and clothing sector workforce. Read more. Source | Just- Style
Published on March 16, 2017
It has been late since Ethiopia turned its face to industrial shift with a prime focus on intensifying the manufacturing sector mainly through diversifying industrial parks as stipulates in the vision 2025.
However, over 80 per cent of its population lives in rural areas and depends on agriculture as their source of livelihood. Although the share of agriculture in the national economy has gone down considerably in recent years, it still contributes above 40 per cent of the national GDP, sources indicated.
Though the sector is still subsistence, efforts to change this reality have, however, picked up pace with the rapid economic development over the last fifteen years and the achievements of the first Growth and Transformation Plan (GTP I). Read more. Source | Ethiopian Herald
Published on March 16, 2017
Possessing a massive potential to grow economy women, make up a little over half of the world population. However, little has been done to use this untapped potential particularly in Africa. To date, labor markets across the globe remain divided along gender lines, and progress toward gender parity seems to have hindered costing countries to lose on growth potentials; and Ethiopia is no exception to this despite the remarkable progress towards incorporating women in its developing mission.
Participation of women in employment and investment continued to be lower than male participation. The majority of women account for most unpaid work and when employed they earn less than their male colleagues do under the same job task. Discrimination in the labor market limits women’s options for paid work, and female representation in senior managerial positions and entrepreneurship remains significantly low. Read more. Source | Ethiopian Herald
Published on March 09, 2017
Kenyan millers and traders are set to take up 87 per cent of the 275,000 metric tonnes of grain that East African regional countries have agreed to import from Ethiopia.
The deal, which was facilitated by Eastern Africa Grain Council (EAGC) and USAid’s East Africa Trade and Investment Hub will see traders import 240,000 metric tonnes of maize and pulses from Ethiopia, part of 51 contracts worth Sh5.5 billion that have been agreed with regional countries.
The deal was inked during a regional grain trade facilitation forum co-hosted by Addis Ababa Chamber of Commerce and Sectoral Associations (AACCSA) in Ethiopia this week. Read more. Source | Business Daily
Published on March 08, 2017
Sellers of maize and other commodities from Ethiopia and buyers of the staple from Kenya, Uganda, Tanzania and Rwanda will gather in Addis Ababa, today for grain buyer mission to enhance economic cooperation and integration among the countries.
Eastern Africa Grain Council (EAGC) Country Manager - Tanzania, Ikunda Terry, told ‘The Guardian’ on Friday that the grain buyer mission has been organised by the council in partnership with the East Africa Trade and Investment Hub.
Terry said that the main objective is to create a platform for knowledge sharing and networking among the participants on trade and investment program between Ethiopia and Eastern and Southern countries, with a focus on increasing regional trade. Read more. Source | IPP Media
Published on February 20, 2017
A regional grain body and a US aid agency are working with millers and traders to import cheap maize from Ethiopia to ease the current shortage of the commodity that has hit the country.
East African Grain Council (EAGC) and the USAID trade hub want to link Kenyan buyers to Ethiopian sellers to import the grain into the country.
Last week, EAGC executive director Gerald Masila was in Ethiopia to discuss the trade deal while the Ethiopian delegation will be in the country this week for negotiation with millers. Ethiopia has a surplus of 1.5 million bags that they are willing to sell to Kenya. Read more. Source | Business Daily
Published on January 20, 2017
Ethiopia is working to become second coffee exporting country. Ethiopia has set a goal of securing 940 million USD exporting 241,000 tonnes of coffee this year.
In a recent briefing, Ethiopian Coffee and Tea Development and Marketing Authority Director General Sani Redi said modernizing coffee value chain, employing IT assisted export control system and improving Ethiopian Commodity Exchange (ECX) capacity are fundamental tasks being carried out to hit the target.
According to him, the Authority is expecting 702,000 tones of coffee production this year. "Increased attention has been given to the promotion of separate brands of Ethiopian coffee," he added. Read more. Source | Ethiopian Herald
Published on January 19, 2017
The Ministry of Industry announced that the construction of four agro- industrial parks projects would be launched soon in Tigray, Amhara, Oromia and SNNP States.
Speaking at stakeholders' consultative meeting on the implementation and resource mobilization for agro-industrial parks expansion project here Friday, Integrated Agro- Industrial Parks Project Marketing and Economic Analyst Moges Mesfin said the project is part of the national vision to become light manufacturing hub in Africa.
The agro-industrial parks would be feasible owing to the commitment of the government, financial institutions readiness and the country's successive economic growth. State Minister Dr. Mebrahtu Meles said the country is constructing industrial parks to promote investment and tap its economic potential. Read more. Source | Ethiopian Herald