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Ethiopia's real gross domestic product (GDP) growth slowed down to 6.1% in 2019/20 due to the COVID-19 pandemic. [80] Industry, mainly construction, and services accounted for most of the growth. Agriculture was not affected by the COVID-19 pandemic and its contribution to growth slightly improved in 2019/20 compared to the previous year.
Nairobi and Addis Ababa are the main financial hubs in East Africa. [5] Ethiopia and Kenya account for 55% of East Africa's GDP. East Africa accounts for 18% of Africa's GDP.
Energy and infrastructure sectors cover the larger construction activities in Ethiopia, responsible for providing cost-effective homes for benefit of low-income households, and increased the country's GDP to 9.5%. This segment employs 1.8 million workers, which makes the second largest sector in Ethiopia. [1] Unfinished building in 2012
Between 1960 and 1970, Ethiopia enjoyed an annual 4.4% growth rate in its per capita and overall gross domestic product (GDP). There was an increase in the manufacturing growth rate from 1.9% in 1960–1961 to 4.4% in 1973–74, with the wholesale, retail trade, transportation, and communication sectors increasing from 9.5% to 15.6%. [4]
It is responsible for general financial management and economic policy of Ethiopia, in addition to the allocation of economic assistance. Formerly the Ministry of Finance, it has its origins in the ministerial system introduced by Emperor Menelik II in 1907.
In late 1990s, the Office for Revision of Addis Ababa's Master Plan (ORAAMP) and National Urban Planning Institute (NUPI) were launched to analyze the economic status of the city. The city covered 29% of Ethiopia's GDP (59.5 Billions $ in 2024) and 20% of national urban development as of 2022. Commercial Bank of Ethiopia in Addis Ababa
Ethiopia's 4.4 percent average per capita GDP growth rate was higher than Sudan's 1.3 percent rate or Somalia's 1 percent rate. [1] However, Kenya's GDP grew at an estimated 6 percent annual rate, and Uganda achieved a 5.6 percent growth rate during the same 1960–61 to 1972–73 period. [1]
In March 2022, Amhara Regional Government Education Bureau sent a team to the agency to request an explanation from the Ministry of Education about grading "errors" in the national examination. 20,000 complaints have been filed against the result of the grade 12 leaving examination, in which the government selects students to join 43 universities across the country.