Economy of Ethiopia

Posted by Stephanie Baker on 2012-10-03 17:24:00 | Views: 5112 |

Popular Menu

5 Ethiopian Drama Series You Have To Watch 5 Unforgettable Events of Ancient Ethiopia 10 Delicious Ethiopian Foods You Must Eat Before You Die Top 12 Ethiopian News Portals Online 10 Magical Tips for Dating Ethiopian Men List Of Famous TV Personalities Born In Ethiopia 10 Ethiopian Music You Just Have To Listen To Guys, Check Out The Top 10 Reasons To Date Ethiopian Women 10 Important Things You Should Know About Ethiopia Top 10 Hottest Ethiopian Models Top 10 Ethiopian Movies To Watch List Of 36 Countries Ethiopians Can Travel To Without A Visa 5 Most Difficult Subjects To Study In Ethiopia Academic Qualifications Of Ethiopian Presidents Since 1974 List Of Top Ethiopian Universities And Their Rankings Geology of Ethiopia List of banks in Ethiopia List Of Embassies In Ethiopia Festivals In Ethiopia Ethiopian literature List of moths in Ethiopia List of non-marine molluscs in Ethiopia List of mammal species in Ethiopia List of fish in Ethiopia List of butterflies in Ethiopia List of birds in Ethiopia Agriculture in Ethiopia History Pre-1900 History 1900s History What does the name Ethiopia mean? Middle Ages From Menelik to Adwa Haile Selassie Era Mengistu Era Meles Era Languages Ethiopia: Motherhood is Powerful, Precious Omo tribes of Ethiopia Ethiopia: The Face of God Ethiopia discovers mine with 40 tonnes of gold Ethiopia Leases Land for Agriculture to Earn Foreign Exchange Sentencing of Ethiopian man in Maryland postponed Ethiopian students to celebrate Sigd alongside veteran Israelis Radcliffe plans guest appearance at 2009 Great Ethiopian Run Hyper Cost of Sugar Putting Ethiopia in a Fix Government to overhaul Ethiopian Telecommunication corporation Addis Ababa to host 2009 African Economic Conference Kenenisa Bekele shortlisted for the male Athlete of the Year award Axum Lalibela, Eighth Wonder Of The World Ethiopia, the cradle of civilization and religion Bahá'í Faith in Ethiopia Animism Judaism Islam in Ethiopia Christianity in Ethiopia Abrahamic religions Religion In Ethiopia Alaba Akaki Agaro Adwa Adigrat Addis Alem Addis Ababa Adama Music of Ethiopia Ethiopian cuisine Education in Ethiopia Health In Ethiopia Ethiopia's Rural And Urban Life Urbanization Ethiopian calendar Ethiopian Religion Demographics of Ethiopia Transportation In Ethiopia Ethiopian Exports Economy of Ethiopia Deforestation in Ethiopia Wildlife of Ethiopia Climate of Ethiopia Geography of Ethiopia Ethiopia: Regions, zones, and districts Human rights in Ethiopia Ethiopian Governance Meles Zenawi Mengistu's Rule Haile Selassie From Reign Of Menelik To Adwa Zemene Mesafint Aussa Sultanate Ethiopia: Middle Ages Antiquity Prehistory Greek Names Ethiopia

Economy of Ethiopia

Ethiopia was the fastest-growing non-oil-dependent African economy in the years 2007 and 2008. In spite of fast growth in recent years, GDP per capita is one of the lowest in the world, and the economy faces a number of serious structural problems. There have been efforts for reform since 1991, but the scope of reform is modest. Agricultural productivity remains low, and frequent droughts still beset the country. The effectiveness of these policies is reflected in the 10% yearly economic growth from 2003–2008. Despite these economic improvements, urban and rural poverty remains an issue in the country.

Ethiopia is often ironically referred to as the "water tower" of Eastern Africa because of the many (14 major) rivers that pour off the high tableland, including the Nile. It also has the greatest water reserves in Africa, but few irrigation systems in place to use it. Just 1% is used for power production and 1.5% for irrigation.

Provision of telecommunications services is left to a state-owned monopoly. It is the view of the current government that maintaining state ownership in this vital sector is essential to ensure that telecommunication infrastructures and services are extended to rural Ethiopia, which would not be attractive to private enterprises.

The Ethiopian constitution defines the right to own land as belonging only to "the state and the people", but citizens may only lease land (up to 99 years), and are unable to mortgage or sell. Renting of land for a maximum of twenty years is allowed and this is expected to ensure that land goes to the most productive user.

Agriculture accounts for almost 41% of the gross domestic product (GDP), 80% of exports, and 80% of the labor force. Many other economic activities depend on agriculture, including marketing, processing, and export of agricultural products. Production is overwhelmingly by small-scale farmers and enterprises and a large part of commodity exports are provided by the small agricultural cash-crop sector. Principal crops include coffee, pulses (e.g., beans), oilseeds, cereals, potatoes, sugarcane, and vegetables. Recently, Ethiopia has had a fast-growing annual GDP and it was the fastest-growing non-oil-dependent African nation in 2007. Exports are almost entirely agricultural commodities, and coffee is the largest foreign exchange earner. Ethiopia is Africa's second biggest maize producer.[85] According to a UN report the GNP per capita of Ethiopia has reached $1541 as of 2009.[citation needed] The same report indicated that the life expectancy had improved substantially in recent years. The life expectancy of men is reported to be 56 years and for women 60 years.

Read Full Story Here.... :


Commentics

Sorry, there is a database problem.

Please check back shortly. Thanks.


Latest News: