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Construction industry has been the second largest economic sector in Ethiopia with annual growth of 11.6%. Infrastructures and buildings of residential or non-residential are regularly constructed with government intervention in policy to encourage sustainable growth, and foreign direct investment from Chinese and European investors.
Ethiopia's economy experienced strong, broad-based growth averaging 9.4% a year from 2010/11 to 2019/20. 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.
The First Five-Year Plan (1957–1961) sought to develop transportation infrastructure, the construction industry, and communication between regions. Another goal was to create a framework of skilled or semiskilled labor in the processing industries to reduce import dependency in Ethiopia.
The Hawassa Industrial Park, inaugurated on 13 July 2016, [3] is a government-funded project in Ethiopia, specializing in the textile and garment industry. [4] [5] During the opening ceremony, Prime Minister Hailemariam Desalegn described the industrial park as an important step towards Ethiopia's goal of becoming a leading manufacturing hub in Africa. [6]
The construction industry contributes significantly to many countries' gross domestic products . Global expenditure on construction activities was about $4 trillion in 2012. In 2022, expenditure on the construction industry exceeded $11 trillion a year, equivalent to about 13 percent of global GDP. This spending was forecasted to rise to around ...
The organization included nine industrial groups, the largest of which was manufacturing, which had accounted for 29.2 percent of the membership in 1982/83, followed by agriculture, forestry, and fishing with 26.6 percent, services with 15.1 percent, transportation with 8.1 percent, construction with 8.0 percent, trade with 6.2 percent ...
Manufacturing in Ethiopia was, before 1957, dominated by cottage and handicraft industries which met most of the population's needs for manufactured goods such as clothes, ceramics, machine tools, and leather goods. Various factors – including the lack of basic infrastructure, the dearth of private and public investment, and the lack of any ...
The plastics industry manufactures polymer materials—commonly called plastics—and offers services in plastics important to a range of industries, including packaging, building and construction, electronics, aerospace, manufacturing and transportation. It is part of the chemical industry.