OVERVIEW
Ethiopia is a country located in the Horn of Africa, known for its ancient history, for example its archaeological treasures like the city of Aksum, its unique calendar, its cultures, with many diverse festivals, and for being the birthplace of coffee.
The capital, Addis Abeba, is one of the highest capital cities in the world. Founded in the late 19th century, it’s now a vibrant hub for politics, culture and diplomacy, as it’s the host for the African Union and many international organizations.
In 2023, Ethiopia ranked
- 59th in terms of GDP, currently valued as $164B, out of 195 economies in the world;
- 135th in terms of total exports out of 226 countries;
- 172nd in terms of GDP per capita, valued with current US$, out of 196 economies in the world.
ECONOMIC COMPLEXITY RANKING
EXPORT
In 2023 it was estimated that the principal products that were exported from Ethiopia were
- Coffee - $1.31B;
- Dried Legumes - $329M;
- Cut Flowers - $258M;
- Other Oily Seeds - $246M;
- Gold - $232M.
On the other hand, the commonest destinations for Ethiopia exports were
- United States - $487M;
- China - $402M;
- United Arab Emirates - $314M;
- Saudi Arabia - $304M;
- Netherlands - $207M.
IMPORT
In 2023 the most imported products from other countries to Ethiopia were
- Refined Petroleum - $2.5B;
- Mixed Mineral or Chemical Fertilizers - $700M;
- Raw Sugar - $667M;
- Cars - $653M;
- Gas Turbines - $586M.
These goods were mainly produced by
- China - $5.23B;
- Djibouti - $3.22B;
- India - $1.46B;
- Kuwait - $1.33B;
- Saudi Arabia - $1.13B.
YEARLY TRADE
During the last five reported years, the exports of Ethiopia have increased by an amount of $1.62B from $2.25B in 2018 to $3.88B in 2023.
The most recent exports are led by
- Coffee - $1.28B;
- Dried Legumes - $334M;
- Other Oily Seeds - $271M;
- Cut Flowers - $258M;
- Gold - $232M.
They were exported primarily to
- United States - $466M;
- United Arab Emirates - $332M;
- China - $330M;
- Saudi Arabia - $314M;
- Netherlands - $212M.
CONCLUSIONS
In 2023, Ethiopia showed signs of recovery after years of conflict and economic strain, and sectors like services and agriculture supported this growth, while reforms were done to attract investments and modernize infrastructures.
Despite inflation and currency challenges, the country remained a strategic market in East Africa, with his large population and cultural richness that are still driving the internal balance.
Source: https://oec.world/en
