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Ethiopia had an average inflation rate of 26% in 2021 and 30% in 2022, something that was largely driven by a rise in food prices; [27] in February 2023, the overall inflation rate reached 32%, [28] and Ethiopia continued to experience high inflation by September 2023, with commonly purchased food items becoming more expensive. [29]
Ethiopia's climate is predicted to warm between 0.7°C and 2.3°C by the end of the 2020s and between 1.4°C and 2.9°C by the 2050s. The county's vulnerability to climate change could increase poverty and dependency on rain-fed agriculture.
The latter is Ethiopia's first industrial steel production plant and is intended to meet a major increase in domestic demand, estimated to rise from 1.2m tonnes to 3.1m tonnes per annum between 2011 and 2014. [14] In August 2008, MIDROC opened a small cement factory on the outskirts of the town, which produces 4,000 quintals of cement per day.
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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]
The exact attribution of climate change to the occurrence of droughts and floods in Ethiopia is difficult. One study from 2022 stated for Ethiopia: "While regional models predict increase in rainfall, higher resolution analyses for Ethiopia suggest spatial variations in which there are both increases and decreases in the overall rainfall averages.
A common unit of weight in Ethiopia was the load - a simple measure of the amount carried by a beast of burden such as a camel [1] A number of different units of measurement have been used in Ethiopia. The values of most of these units are not well defined. [2] In 1963, Ethiopia adopted the metric system. [3]
5 October – The first ever Irreechaa was celebrated in Addis Ababa's Meskel Square with hundreds of thousands Oromos attended. [5]11 October – The Nobel Peace Prize was awarded to Prime Minister Abiy Ahmed for "his efforts to achieve peace and international cooperation, and in particular for his decisive initiative to resolve the border conflict with neighbouring Eritrea".