Ethiopian Business Review

In March 2014, the CIA World Factbook updated Ethiopia’s nominal Gross Domestic Product (GDP) to USD118.2 Billion for 2013. This is a growth of over USD9 billion from the previous year. This, according to the report, is remarkable for an economy without oil, gas, or significant minerals.

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The year 2013 exhibited a surprising shift with respect to the destination of Ethiopia’s exports. Somalia replaced Switzerland as the top destination for Ethiopia’s exports. Somalia is now at the top of the list, buying USD319.8 million worth of goods from Ethiopia followed by China that bought USD308.3 million and Germany by USD177 million. Each of these top three destinations for Ethiopia’s exports took up roughly 31.1Pct of the country’s total exports in 2013. Meanwhile, Switzerland, which held first place in 2012, became the 6th export destination in 2013 by importing USD155.4 million worth of commodities from Ethiopia.

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The number of passengers the Addis Ababa Light Railway will carry per hour after the project is finalized at the end of 2014/15 fiscal year. The two line rail tracks extend 16.35Kms from Ayat Village in the eastern part of the city to Tor Hailoch, in the western part of Addis. This rail track passes through Megenaga, Haya hulet, Urael, Meskel Square, to Lideta. And in the north to south direction, 17.5kms of rail track will pass through Piassa - Addis Ketema – Awtobis Tera - Sebategna – Tor Hailoch - Meskal Square - Gotera – Kaliti. The two directions will have a common track of about 2.8Kms.

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