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%.
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.
Ethiopia GDP from 1980 to 2024
The total market value of goods and services produced annually in Ethiopia.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
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 | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 7B 385M | $ 227.62 | $ 323.52 | $ 10B 496M | 3.997 % | -3.062 % | 5 % | -2.031 % | 32M 444K people |
1981 | $ 7B 578M | $ 228.06 | $ 345.79 | $ 11B 489M | 0 % | -2.571 % | 6.01 % | -1.55 % | 33M 226K people |
1982 | $ 7B 973M | $ 233.31 | $ 360.40 | $ 12B 317M | 0.961 % | -3.738 % | 5.17 % | -2.736 % | 34M 175K people |
1983 | $ 8B 863M | $ 251.40 | $ 391.51 | $ 13B 803M | 7.845 % | -2.094 % | 5.43 % | -6.737 % | 35M 256K people |
1984 | $ 8B 375M | $ 229.99 | $ 383.68 | $ 13B 972M | -2.305 % | -2.74 % | 8.09 % | -2.559 % | 36M 415K people |
1985 | $ 9B 808M | $ 260.76 | $ 339.48 | $ 12B 768M | -11.413 % | 1.036 % | 5.92 % | -3.332 % | 37M 612K people |
1986 | $ 10B 188M | $ 262.32 | $ 367.88 | $ 14B 288M | 9.693 % | -1.932 % | 7.30 % | -2.724 % | 38M 839K people |
1987 | $ 10B 890M | $ 271.54 | $ 415.73 | $ 16B 672M | 13.87 % | -0.935 % | 5.56 % | -2.526 % | 40M 105K people |
1988 | $ 11B 285M | $ 272.45 | $ 419.12 | $ 17B 360M | 0.574 % | -2.592 % | 10.20 % | -2.353 % | 41M 420K people |
1989 | $ 11B 872M | $ 277.39 | $ 419.60 | $ 17B 958M | -0.457 % | -1.384 % | 8.19 % | -3.288 % | 42M 799K people |
1990 | $ 12B 595M | $ 284.64 | $ 431.99 | $ 19B 115M | 2.602 % | -1.145 % | 7.15 % | -5.962 % | 44M 249K people |
1991 | $ 13B 928M | $ 304.28 | $ 400.57 | $ 18B 335M | -7.218 % | -2.143 % | 4.95 % | -5.06 % | 45M 774K people |
1992 | $ 14B 696M | $ 310.31 | $ 360.71 | $ 17B 82M | -8.907 % | 0.036 % | 6.55 % | -3.882 % | 47M 359K people |
1993 | $ 9B 143M | $ 186.66 | $ 404.74 | $ 19B 825M | 13.363 % | 0.072 % | 7.48 % | -2.723 % | 48M 981K people |
1994 | $ 8B 135M | $ 160.75 | $ 414.06 | $ 20B 954M | 3.486 % | -1.082 % | 9.23 % | -3.009 % | 50M 606K people |
1995 | $ 7B 887M | $ 151.06 | $ 434.81 | $ 22B 703M | 6.121 % | 2.458 % | 13.49 % | -1.015 % | 52M 212K people |
1996 | $ 8B 794M | $ 163.50 | $ 487.96 | $ 26B 247M | 13.533 % | 0.302 % | 12.23 % | -2.228 % | 53M 789K people |
1997 | $ 8B 621M | $ 155.77 | $ 496.12 | $ 27B 458M | 2.84 % | -0.264 % | 10.03 % | -0.119 % | 55M 345K people |
1998 | $ 7B 815M | $ 137.37 | $ 467.64 | $ 26B 604M | -4.185 % | -0.537 % | 12.53 % | -2.087 % | 56M 891K people |
1999 | $ 7B 515M | $ 128.58 | $ 490.68 | $ 28B 679M | 6.294 % | -7.027 % | 7.40 % | -6.8 % | 58M 448K people |
