Third Quarter Economic Review for 2014

08 Dec 2014

Macroeconomic Trends

Ethiopia’s economy continue to register strong and robust growth. The real GDP grew by 10.3 percent in 2013/14, showing growth acceleration compared to 9.7 in 2012/13 and 8.8 percent in 2011/12. The share of services and industry sectors in the economy is increasing in contrast to that of agriculture which is declining. For example, in 2013/14 the shares of services, agriculture and industry stand at 46 percent, 40 percent and 14 percent, respectively, in contrast to 45
percent, 43 percent and 12 percent, respectively, in the preceding year. The annual growth in the industry sector was quite significant (21.2 percent) mainly driven by exuberant performance in the construction sub- sector. Growth rates of the agriculture and service sectors were estimated to be 5.4 percent and 11.9 percent respectively. Concerning the sectors contribution to the 10.3 percent real GDP growth, 5.3 percentage points (51.5 percent) is attributable to the service
sector, 2.7 percentage points (26.2 percent) to the industry sector and 2.3 percentage poin (22.3 percent) to the agriculture sector.

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