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The economy of Ethiopia is a mixed and transition economy with a large public sector. The government of Ethiopia is in the process of privatizing many of the state-owned businesses and moving toward a market economy. [26] The banking, telecommunication and transportation sectors of the economy are dominated by government-owned companies. [27] [28]
This results in a very dynamic situation with many power plants being planned simultaneously or being under construction. In the year 2014 Ethiopia had – according to an estimation of the CIA – an annual electricity production of 9.5 TWh and was at position 101 worldwide.
In 2008 and 2011, Ethiopia's growth performance and considerable development gains were challenged by high inflation and a difficult balance of payments situation. Inflation surged to 40% in August 2011 because of loose monetary policy , large civil service wage increase in early 2011, and high food prices.
Ethiopia is a mostly agrarian rural country [1]: 135 with only its capital, Addis Ababa, having over 1 million people.However the urban population of Ethiopia has expanded dramatically, from 10.8 million in 2002 to 28 million in 2022, [2] a growth of 160%, which has resulted in the urban population as a percentage of the total population growing from 15% to 23% over the same time period. [2]
Coffee harvest in Ethiopia. Coffee, which originated in Ethiopia, is the largest foreign exchange earner. Agriculture accounted for 50% of GDP, 83.9% of exports, and 80% of the labor force in 2006 and 2007, compared to 44.9%, 76.9% and 80% in 2002–2003, and agriculture remains the Ethiopian economy's most important sector. [7]
In 1957, Ethiopia initiated a series of five-year development plans. Throughout much of the 1960s and early 1970s, manufacturing activity increased as the government's five-year plans diversified the economy by encouraging agro-industrial activity and by substituting domestically produced goods for imported items.
The famine in Ethiopia in 1984 served as the beginning of a country-wide famine that lasted for at least 20 years after the crisis itself. [5] According to the study Hunger and Poverty in Ethiopia: local perceptions of famine and famine response, "In 2003, up to 15 million people were considered food insecure."
The demographics of Ethiopia encompass the demographic features of inhabitants in ... 20 298 000: 43.9: 53.3: 2.8 1960 22 553 000: ... 42.44 1966 25 378 1 230 607 ...