Categories
Business

The Ethiopia

Ethiopia  officially  called the Federal Democratic Republic of Ethiopia, a country in the northeastern part of Africa, known as the Horn of Africa. It shares borders with Eritrea to the north, Djiboutito the northeast, the de facto state of Somaliland and Somalia to the east, Kenya to the south, South Sudan to the west and Sudan to the northwest.

With over 102 million inhabitants, Ethiopia is the most populous landlocked country in the world and the second-most populous nation on the African continent with a total area of 1,100,000 square kilometres (420,000 sq mi). Its capital and largest city is Addis Ababa, which lies a few miles west of the East African Rift that splits the country into the Nubian and Somali tectonic plates.

Share of world GDP (PPP)[201]
Year Share
1980 0.08%
1990 0.07%
2000 0.07%
2010 0.10%
2017 0.16%

Ethiopia’s Human Development Indexrating 1970–2010

According to the IMF, Ethiopia was one of the fastest growing economies in the world, registering over 10% economic growth from 2004 through 2009. It was the fastest-growing non-oil-dependent African economy in the years 2007 and 2008. In 2015, the World Bank highlighted that Ethiopia had witnessed rapid economic growth with real domestic product (GDP) growth averaging 10.9% between 2004 and 2014.

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. For 2011/12, end-year inflation was projected to be about 22%, and single digit inflation is projected in 2012/13 with the implementation of tight monetary and fiscal policies.

In spite of fast growth in recent years, GDP per capita is one of the lowest in the world, and the economy faces a number of serious structural problems.

However, with a focused investment in public infrastructure and industrial parks, Ethiopia’s economy is addressing its structural problems to become a hub for light manufacturing in Africa.  In 2019 a law was passed allowing expatriate Ethiopians to invest in Ethiopia’s financial service industry.

The Ethiopian constitution defines the right to own land as belonging only to “the state and the people”, but citizens may lease land (up to 99 years), and are unable to mortgage or sell. Renting of land for a maximum of twenty years is allowed and this is expected to ensure that land goes to the most productive user.

Land distribution and administration is considered an area where corruption is institutionalized, and facilitation payments as well as bribes are often demanded when dealing with land-related issues. As there is no land ownership, infrastructural projects are most often simply done without asking the land users, which then end up being displaced and without home or land. A lot of anger and distrust sometimes results in public protests. In addition, agricultural productivity remains low, and frequent droughts still beset the country, also leading to internal displacement.

The country lies completely within the tropical latitudes and is relatively compact, with similar north-south and east-west dimensions. The capital is Addis Ababa(“New Flower”), located almost at the centre of the country. Ethiopia is the largest and most populated country in the Horn of Africa. With the 1993 secession of Eritrea, its former province along the Red Sea, Ethiopia became landlocked.

Ethiopia

National anthem of Ethiopia

OFFICIAL NAME
Federal Democratic Republic of Ethiopia
FORM OF GOVERNMENT
federal republic with two legislative houses (House of the Federation [153]; House of Peoples’ Representatives [547])
HEAD OF STATE
President: Sahle-Work Zewde
HEAD OF GOVERNMENT
Prime Minister: Abiy Ahmed
CAPITAL
Addis Ababa
OFFICIAL LANGUAGE
none1
OFFICIAL RELIGION
none
MONETARY UNIT
birr (Br)
POPULATION
(2018 est.) 96,769,000
POPULATION RANK
(2018) 14
POPULATION PROJECTION 2030
125,234,000
TOTAL AREA (SQ MI)
410,678
TOTAL AREA (SQ KM)
1,063,652
DENSITY: PERSONS PER SQ MI
(2018) 222.4
DENSITY: PERSONS PER SQ KM
(2018) 85.9
URBAN-RURAL POPULATION
Urban: (2018) 20.8%
Rural: (2018) 79.2%
LIFE EXPECTANCY AT BIRTH
Male: (2017) 60.1 years
Female: (2017) 65.1 years
LITERACY: PERCENTAGE OF POPULATION AGE 15 AND OVER LITERATE
Male: (2015) 57.3%
Female: (2015) 41%
GNI (U.S.$ ’000,000)
(2017) 77,342
GNI PER CAPITA (U.S.$)
(2017) 740
  • 1Amharic is the “working” language.

Ethiopia is one of the world’s oldest countries, its territorial extent having varied over the millennia of its existence. In ancient times it remained centred on Aksum, an imperial capital located in the northern part of the modern state, about 100 miles (160 km) from the Red Sea coast. The present territory was consolidated during the 19th and 20th centuries as European powers encroached into Ethiopia’s historical domain.

Ethiopia became prominent in modern world affairs first in 1896, when it defeated colonial Italy in the Battle of Adwa, and again in 1935–36, when it was invaded and occupied by fascist Italy.

Liberation during World War II by theAllied powers set the stage for Ethiopia to play a more prominent role in world affairs. Ethiopia was among the first independent nations to sign the Charter of the United Nations, and it gave moraland material support to the decolonization of Africa and to the growth of Pan-African cooperation. These efforts culminated in the establishment of the Organization of African Unity (since 2002, theAfrican Union) and the United Nations Economic Commission for Africa, both of which have their headquarters in Addis Ababa.

Leave a Reply

Your email address will not be published. Required fields are marked *