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Ethiopia · Economy

Ethiopia economy: GDP, investment, trade and remittances

How large the Ethiopia economy is and how fast it is growing, who invests in it, what it sells and buys, how much its citizens abroad send home, who it owes and what it holds in reserve. The latest published year is shown with each figure.

GDP
US$126.4 billion
current US$, 2025
Real GDP growth
9.8%
2025
GDP per person
US$933
current US$, 2025
Exports of goods
US$2.9 billion
2023
Remittances received
US$7.1 billion
2024, 4.8% of GDP
Foreign direct investment, net inflows
US$3.8 billion
2025, 3.0% of GDP

Ethiopia economy snapshot: GDP, growth and income per person

Ethiopia's GDP was US$126.4 billion in 2025, after real growth of 9.8%.

GDP

Current US dollars.

050bn100bn150bn201520172019202120232025GDP 2015: US$62.1 billionGDP 2016: US$68.5 billionGDP 2017: US$76.4 billionGDP 2018: US$83.3 billionGDP 2019: US$91.8 billionGDP 2020: US$98.7 billionGDP 2021: US$109.1 billionGDP 2022: US$123.1 billionGDP 2023: US$135.9 billionGDP 2024: US$149.7 billionGDP 2025: US$126.4 billion

Real GDP growth

Annual change, per cent. Red bars are contractions.

0%5%10%15%201520172019202120232025Real GDP growth 2015: 10.4%Real GDP growth 2016: 9.4%Real GDP growth 2017: 9.6%Real GDP growth 2018: 6.8%Real GDP growth 2019: 8.4%Real GDP growth 2020: 6.1%Real GDP growth 2021: 5.6%Real GDP growth 2022: 5.3%Real GDP growth 2023: 6.6%Real GDP growth 2024: 7.6%Real GDP growth 2025: 9.8%

GDP per person

Current US dollars.

05001k2k201520172019202120232025GDP per person 2015: US$598GDP per person 2016: US$642GDP per person 2017: US$696GDP per person 2018: US$740GDP per person 2019: US$793GDP per person 2020: US$830GDP per person 2021: US$893GDP per person 2022: US$982GDP per person 2023: US$1,056GDP per person 2024: US$1,134GDP per person 2025: US$933

Source: World Bank, 2025. Method

Who invests in Ethiopia and in what

Direct investment by investing country

China was the largest investing country in Ethiopia, at 49% of inward direct investment positions in 2024.

Inward direct investment positions in Ethiopia at the end of 2024: the stock of foreign direct investment, not a year's new flow. The 10 largest investing countries.

The IMF data holds no positions reported by Ethiopia itself. The figures are derived by the IMF from what the investing countries report, so they are shown as reported by investing countries.

ChinaUS$2.0 billion48.9%
NetherlandsUS$1.1 billion26.5%
MauritiusUS$265 million6.3%
ItalyUS$254 million6.1%
FranceUS$98 million2.4%
United KingdomUS$85 million2.0%
South AfricaUS$72 million1.7%
NigeriaUS$52 million1.3%
LuxembourgUS$40 million1.0%
GermanyUS$35 million0.8%

Source: IMF, 2024. Method

What Ethiopia sells and buys

Coffee, tea and spices was 43% of exports in 2023.

Ethiopia sold the most to Saudi Arabia, 10% of exports in 2023.

Exports by product, 2023

Tile area follows value. Each tile is a customs chapter of the Harmonized System; hover for the full name.

Coffee, tea, mate and spices: US$1.2 billion, 43.2%Coffee, tea and spices43%Vegetables and certain roots and tubers: US$500 million, 17.5%Vegetables and certain…17%Oil seeds and oleaginous fruits: US$424 million, 14.8%Oil seeds and grains15%Trees and other plants, live: US$262 million, 9.2%Live trees and…9%Meat and edible meat offal: US$63 million, 2.2%Apparel and clothing accessories: US$60 million, 2.1%Machinery and mechanical appliances, boilers, nuclear reactors: US$58 million, 2.0%Apparel and clothing accessories: US$34 million, 1.2%Preparations of cereals, flour, starch or milk: US$24 million, 0.8%Raw hides and skins (other than furskins) and leather: US$20 million, 0.7%Animals: US$18 million, 0.6%Fruit and nuts, edible: US$15 million, 0.5%All other chapters: US$146 million, 5.1%All other cha…5%

Source: UN Comtrade, 2023. Method

Top buyers, 2023

Share of Ethiopia's exports.

Saudi ArabiaUS$298 million10.4%
United StatesUS$276 million9.7%
NetherlandsUS$219 million7.6%
United Arab EmiratesUS$164 million5.7%
SomaliaUS$142 million5.0%
IndiaUS$139 million4.9%
GermanyUS$135 million4.7%
ChinaUS$132 million4.6%
South KoreaUS$116 million4.1%
JapanUS$104 million3.6%

Top suppliers, 2023

Share of Ethiopia's imports.

ChinaUS$5.6 billion32.7%
IndiaUS$1.6 billion9.6%
KuwaitUS$1.3 billion7.8%
Saudi ArabiaUS$1.1 billion6.6%
United StatesUS$1.1 billion6.3%
MoroccoUS$677 million4.0%
TurkeyUS$620 million3.6%
United Arab EmiratesUS$472 million2.8%
EgyptUS$455 million2.7%
JapanUS$382 million2.2%

Source: UN Comtrade, 2023. Method

What Ethiopia buys, 2023

The 8 largest product chapters in imports.

Mineral fuels and oilsUS$2.7 billion15.5%
Machinery and mechanical appliancesUS$1.9 billion11.3%
Electrical machinery and equipmentUS$1.3 billion7.8%
VehiclesUS$1.3 billion7.7%
FertilisersUS$1.2 billion7.0%
PlasticsUS$833 million4.9%
Fats and oilsUS$750 million4.4%
Pharmaceutical productsUS$677 million4.0%

Source: UN Comtrade, 2023. Method

Trade balance of goods

Exports minus imports. Red bars are years when imports were larger. A year is left out when either side is not published.

-20bn-15bn-10bn-5.0bn020152017201920212023Trade balance 2015: -US$15.7 billion (exports US$2.0 billion, imports US$17.7 billion)Trade balance 2016: -US$15.5 billion (exports US$2.0 billion, imports US$17.5 billion)Trade balance 2017: -US$13.5 billion (exports US$2.3 billion, imports US$15.8 billion)Trade balance 2018: -US$13.4 billion (exports US$1.5 billion, imports US$15.0 billion)Trade balance 2019: -US$12.8 billion (exports US$2.7 billion, imports US$15.5 billion)Trade balance 2020: -US$11.6 billion (exports US$2.5 billion, imports US$14.1 billion)Trade balance 2021: -US$12.2 billion (exports US$3.1 billion, imports US$15.3 billion)Trade balance 2022: -US$13.5 billion (exports US$3.1 billion, imports US$16.5 billion)Trade balance 2023: -US$14.2 billion (exports US$2.9 billion, imports US$17.1 billion)

Source: UN Comtrade, 2023. Method

Remittances against foreign direct investment in Ethiopia

Remittances to Ethiopia were 1.8 times foreign direct investment in 2024.

Remittances receivedForeign direct investment, net inflows
02.0bn4.0bn6.0bn8.0bn201520172019202120232025Remittances 2015: US$1.1 billionRemittances 2016: US$772 millionRemittances 2017: US$393 millionRemittances 2018: US$436 millionRemittances 2019: US$480 millionRemittances 2020: US$404 millionRemittances 2021: US$448 millionRemittances 2022: US$510 millionRemittances 2023: US$539 millionRemittances 2024: US$7.1 billionForeign direct investment 2015: US$2.6 billionForeign direct investment 2016: US$4.1 billionForeign direct investment 2017: US$4.0 billionForeign direct investment 2018: US$3.4 billionForeign direct investment 2019: US$2.5 billionForeign direct investment 2020: US$2.4 billionForeign direct investment 2021: US$4.3 billionForeign direct investment 2022: US$3.7 billionForeign direct investment 2023: US$3.3 billionForeign direct investment 2024: US$4.0 billionForeign direct investment 2025: US$3.8 billion

Source: World Bank, 2026. Method

Remittances and investment as a share of GDP

The same two flows measured against the size of the economy.

Remittances, share of GDPForeign direct investment, share of GDP
0%2%4%6%8%201520172019202120232025Remittances 2015: 1.8%Remittances 2016: 1.1%Remittances 2017: 0.5%Remittances 2018: 0.5%Remittances 2019: 0.5%Remittances 2020: 0.4%Remittances 2021: 0.4%Remittances 2022: 0.4%Remittances 2023: 0.4%Remittances 2024: 4.8%Foreign direct investment 2015: 4.2%Foreign direct investment 2016: 6.1%Foreign direct investment 2017: 5.3%Foreign direct investment 2018: 4.0%Foreign direct investment 2019: 2.8%Foreign direct investment 2020: 2.4%Foreign direct investment 2021: 3.9%Foreign direct investment 2022: 3.0%Foreign direct investment 2023: 2.4%Foreign direct investment 2024: 2.7%Foreign direct investment 2025: 3.0%

Source: World Bank, 2026. Method

Who Ethiopia owes

External debt stock by type of creditor. Creditor types cover public and publicly guaranteed debt; the grey part is the rest of the total external debt stock. A creditor type with no published figure is not shown.

Multilateral creditors held 43% of Ethiopia's external debt stock in 2024.

Public external debt owed to China was US$7.4 billion in 2024, 20% of the external debt stock.

MultilateralBilateralBondsCommercial banksRest of the totalPublic debt owed to China
010bn20bn30bn40bn20152017201920212023Multilateral 2015: US$6.8 billionBilateral 2015: US$6.5 billionBonds 2015: US$1.0 billionCommercial banks 2015: US$2.8 billionRest of the total 2015: US$3.4 billionMultilateral 2016: US$8.1 billionBilateral 2016: US$7.7 billionBonds 2016: US$1.0 billionCommercial banks 2016: US$2.7 billionRest of the total 2016: US$3.8 billionMultilateral 2017: US$10.1 billionBilateral 2017: US$8.4 billionBonds 2017: US$1.0 billionCommercial banks 2017: US$3.4 billionRest of the total 2017: US$3.2 billionMultilateral 2018: US$11.0 billionBilateral 2018: US$10.5 billionBonds 2018: US$1.0 billionCommercial banks 2018: US$4.3 billionRest of the total 2018: US$3.0 billionMultilateral 2019: US$12.2 billionBilateral 2019: US$10.4 billionBonds 2019: US$1.0 billionCommercial banks 2019: US$4.2 billionRest of the total 2019: US$2.5 billionMultilateral 2020: US$14.0 billionBilateral 2020: US$10.5 billionBonds 2020: US$1.0 billionCommercial banks 2020: US$4.0 billionRest of the total 2020: US$2.8 billionMultilateral 2021: US$14.2 billionBilateral 2021: US$10.0 billionBonds 2021: US$1.0 billionCommercial banks 2021: US$3.7 billionRest of the total 2021: US$3.1 billionMultilateral 2022: US$14.2 billionBilateral 2022: US$9.6 billionBonds 2022: US$1.0 billionCommercial banks 2022: US$3.2 billionRest of the total 2022: US$2.6 billionMultilateral 2023: US$15.0 billionBilateral 2023: US$11.5 billionBonds 2023: US$1.0 billionCommercial banks 2023: US$3.5 billionRest of the total 2023: US$2.3 billionMultilateral 2024: US$15.7 billionBilateral 2024: US$12.5 billionBonds 2024: US$1.0 billionCommercial banks 2024: US$3.4 billionRest of the total 2024: US$3.9 billionPublic debt owed to China 2015: US$7.3 billionPublic debt owed to China 2016: US$8.2 billionPublic debt owed to China 2017: US$8.7 billionPublic debt owed to China 2018: US$8.7 billionPublic debt owed to China 2019: US$8.3 billionPublic debt owed to China 2020: US$7.9 billionPublic debt owed to China 2021: US$7.4 billionPublic debt owed to China 2022: US$6.8 billionPublic debt owed to China 2023: US$6.6 billionPublic debt owed to China 2024: US$7.4 billion

Source: World Bank, 2026. Method

Reserves and months of import cover

Total reserves including gold, and how many months of imports they cover.

Reserves, US$Months of imports
01.0bn2.0bn3.0bn4.0bn012320152017201920212023Reserves 2015: US$3.8 billionReserves 2016: US$3.0 billionReserves 2017: US$3.0 billionReserves 2018: US$4.0 billionReserves 2019: US$3.0 billionReserves 2020: US$3.0 billionReserves 2021: US$1.6 billionReserves 2022: US$1.2 billionReserves 2023: US$2.0 billionReserves 2024: US$3.8 billionMonths of imports 2015: 2.3 monthsMonths of imports 2016: 1.8 monthsMonths of imports 2017: 1.8 monthsMonths of imports 2018: 2.4 monthsMonths of imports 2019: 1.8 monthsMonths of imports 2020: 2.0 monthsMonths of imports 2021: 0.9 monthsMonths of imports 2022: 0.6 monthsMonths of imports 2023: 1.0 monthMonths of imports 2024: 1.8 months

Source: World Bank, 2026. Method

Aid received by Ethiopia

Net official development assistance and official aid received.

02.0bn4.0bn6.0bn20152017201920212023Aid received 2015: US$3.2 billionAid received 2016: US$4.1 billionAid received 2017: US$4.1 billionAid received 2018: US$4.9 billionAid received 2019: US$4.7 billionAid received 2020: US$5.3 billionAid received 2021: US$4.1 billionAid received 2022: US$4.9 billionAid received 2023: US$5.4 billion

Source: World Bank, 2026. Method