Overview
Ethiopia has a large domestic market, with a total population of approximately 110 million people (2020), making it Africa’s second most populous country. The business climate is changing dramatically as a result of broad policy reforms. The government is in the process of privatizing major state-owned enterprises, signalling a shift toward market-based reforms and greater flexibility in economic policymaking. Furthermore, macroeconomic conditions appear to be forming for the economy to shift away from a conflict mode and toward recovery and reconstruction.
In 2021, Ethiopia was the number 58 economy in the world in terms of GDP (current US$), the number 126 in total exports, the number 105 in total imports, the number 162 economy in terms of GDP per capita (current US$) and the number 99 most complex economy according to the Economic Complexity Index (ECI).
