Ethiopia's GDP changed from approximately $7B 385M in 1980 to $205B 130M in 2024, showing an overall 2677.7% sharply increased during the period.
The lowest GDP was recorded in 1980 at $7B 385M, and the highest in 2024 at $205B 130M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 7.8%.
For comparison, the average annual growth rate of Egypt was 6.3%, and that of Eritrea was 4.5%.
Ethiopia GDP from 1980 to 2024
The total market value of goods and services produced annually in Ethiopia.
Overview of Ethiopia's GDP (1980–2024)
The Gross Domestic Product (GDP) of Ethiopia recorded a 2677.7% sharply increased from 1980 to 2024.
The average GDP during this period was $35B 622M, and the median was $12B 387M.
GDP fluctuated within a range of $197B 745M, with a standard deviation of $44B 484M.
The average annual change was $2B 626M.
Highest and Lowest GDP Records
- Lowest GDP: 1980, $7B 385M
- Highest GDP: 2024, $205B 130M
- Most Recent GDP: 2024, $205B 130M
Notable Annual GDP Changes
- 2024: Significant increase in GDP
- 1993: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Ethiopia's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $92B 608M → $96B 611M
- Outcome: increased
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $19B 329M → $28B 672M
- Outcome: sharply increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $8B 167M → $8B 103M
- Outcome: remained stable
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $8B 621M → $7B 815M
- Outcome: declined
Key Economic Indicators of Ethiopia (1980–2024)
| year | GDP Growth | Nominal GDP | PPP GDP | GDP per Capita | PPP per Capita | Savings | Population | Current Account | Fiscal Balance |
|---|---|---|---|---|---|---|---|---|---|
1980 | 3.997 % | $ 7B 385M | $ 10B 496M | $ 227.62 | $ 323.52 | 5 % | 32M 444K people | -3.062 % | -2.031 % |
1981 | 0 % | $ 7B 578M | $ 11B 489M | $ 228.06 | $ 345.79 | 6.01 % | 33M 226K people | -2.571 % | -1.55 % |
1982 | 0.961 % | $ 7B 973M | $ 12B 317M | $ 233.31 | $ 360.40 | 5.17 % | 34M 175K people | -3.738 % | -2.736 % |
1983 | 7.845 % | $ 8B 863M | $ 13B 803M | $ 251.40 | $ 391.51 | 5.43 % | 35M 256K people | -2.094 % | -6.737 % |
1984 | -2.305 % | $ 8B 375M | $ 13B 972M | $ 229.99 | $ 383.68 | 8.09 % | 36M 415K people | -2.74 % | -2.559 % |
1985 | -11.413 % | $ 9B 808M | $ 12B 768M | $ 260.76 | $ 339.48 | 5.92 % | 37M 612K people | 1.036 % | -3.332 % |
1986 | 9.693 % | $ 10B 188M | $ 14B 288M | $ 262.32 | $ 367.88 | 7.30 % | 38M 839K people | -1.932 % | -2.724 % |
1987 | 13.87 % | $ 10B 890M | $ 16B 672M | $ 271.54 | $ 415.73 | 5.56 % | 40M 105K people | -0.935 % | -2.526 % |
1988 | 0.574 % | $ 11B 285M | $ 17B 360M | $ 272.45 | $ 419.12 | 10.20 % | 41M 420K people | -2.592 % | -2.353 % |
1989 | -0.457 % | $ 11B 872M | $ 17B 958M | $ 277.39 | $ 419.60 | 8.19 % | 42M 799K people | -1.384 % | -3.288 % |
1990 | 2.602 % | $ 12B 595M | $ 19B 115M | $ 284.64 | $ 431.99 | 7.15 % | 44M 249K people | -1.145 % | -5.962 % |
1991 | -7.218 % | $ 13B 928M | $ 18B 335M | $ 304.28 | $ 400.57 | 4.95 % | 45M 774K people | -2.143 % | -5.06 % |
1992 | -8.907 % | $ 14B 696M | $ 17B 82M | $ 310.31 | $ 360.71 | 6.55 % | 47M 359K people | 0.036 % | -3.882 % |
1993 | 13.363 % | $ 9B 143M | $ 19B 825M | $ 186.66 | $ 404.74 | 7.48 % | 48M 981K people | 0.072 % | -2.723 % |
1994 | 3.486 % | $ 8B 135M | $ 20B 954M | $ 160.75 | $ 414.06 | 9.23 % | 50M 606K people | -1.082 % | -3.009 % |
1995 | 6.121 % | $ 7B 887M | $ 22B 703M | $ 151.06 | $ 434.81 | 13.49 % | 52M 212K people | 2.458 % | -1.015 % |
1996 | 13.533 % | $ 8B 794M | $ 26B 247M | $ 163.50 | $ 487.96 | 12.23 % | 53M 789K people | 0.302 % | -2.228 % |
1997 | 2.84 % | $ 8B 621M | $ 27B 458M | $ 155.77 | $ 496.12 | 10.03 % | 55M 345K people | -0.264 % | -0.119 % |
1998 | -4.185 % | $ 7B 815M | $ 26B 604M | $ 137.37 | $ 467.64 | 12.53 % | 56M 891K people | -0.537 % | -2.087 % |
1999 | 6.294 % | $ 7B 515M | $ 28B 679M | $ 128.58 | $ 490.68 | 7.40 % | 58M 448K people | -7.027 % | -6.8 % |