Ethiopia: A lion awaits redemption
Stagnation stumps Ethiopia after the nation was one of the fastest growing global economies for a decade and a half. The COVID19 pandemic was bad enough to disrupt livelihoods and give rise to macro-level problems. But the raging civil war between the ruling party and the Tigrayan People’s Liberation Front (TPLF), has far elevated the troubles.
Tigray is a region in the north of the country where civil war broke out in late 2020. Since then, there have been multiple reports of civilian casualties, rape, and crimes against humanity. Chilling accounts of suffering emanate every day from the region. The latest among these is the Ethiopian army laying siege around Tigray, and stopping humanitarian aid.
In another interesting development, grain supplies recently departed Ukrainian shores to reach Ethiopia’s starving population. Russia and Ukraine had recently signed a pact to let grains’ shipments pass unharmed.
Ethiopia’s sinking economy
The economy has also suffered immensely. The passing of a country from peace to a wartime situation entails higher security and humanitarian costs. Ethiopia is no different. Add to this the burgeoning cost of redevelopment. Ethiopia has the second-largest population in Africa, with most about to graduate into the working class.
The country, with an expected rise in disposable incomes, should be at the top of the list for foreign investors. However, with the deterrence of corruption, and a weak currency, is now the added fear of war. International investment is unlikely to flow into the nation as per desired goals.
Ethiopia export analysis
The proposed reforms of 2019 have been overshadowed by the civil war. Ethiopia’s credit ratings are in a freefall. Yet, investments from before the civil war continue to give investors hope. Indian, Chinese, Emirati, and American business interests lay in the area. If you are a trader wishing to learn more about Ethiopia’s exports, don’t forget to access this free version of Ethiopia export data. The Trade Vision compiles these datasets, and more elaborate market intelligence reports to give your business the global edge.
The total exports in 2020 were valued at $3.5 billion.
Top Export Commodities
1. Coffee ($860 million)
2. Other Oily Seeds ($384 million)
3. Gas Turbines ($328 million)
4. Other Vegetables ($261 million)
5. Gold ($194 million)
Top Export Countries
1. United States ($409 million)
2. Somalia ($294 million)
3. Hong Kong ($253 million)
4. United Arab Emirates ($247 million)
5. Saudi Arabia ($203 million)
Ethiopia Import Analysis
Being a populous country lends Ethiopia the advantage of being a large domestic market. Businesses from around the world look on as the economic opportunities are squandered by the government in power. But experts estimate that by 2023, the nation would be back on the recovery path. The total imports in 2020 were valued at $11.1 billion.
If you are looking to enter the Ethiopian market, The Trade Vision provides the most accurate and dynamic market intelligence reports. Gear up for the Ethiopian recovery, and plan your expansion with the aid of reliable data.
Top Import Commodities
1. Refined Petroleum ($1.24 billion)
2. Gas Turbines ($532 million)
3. Planes, Helicopters, and/or Spacecraft ($406 million)
4. Wheat ($320 million)
5. Packaged Medicaments ($317 million)
Top Import Countries
1. China ($2.75 billion)
2. India ($903 million)
3. United Arab Emirates ($798 million)
4. United States ($554 million)
5. Kuwait ($530 million)
Expand your business operations to Ethiopia with assistance from The Trade Vision. We are an international trade research company and we provide actionable analytics that steers clear of the noise.
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