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Ethiopia surpasses Kenya to become East Africa's Biggest Economy
nazret.com - For years, reporters writing about Ethiopia's neighbor Kenya refer to it as the biggest economy in East Africa, now no more. Ethiopia has officially taken over Kenya to become East Africa's biggest economy.
According to the CIA World Fact Book, Ethiopia's GDP for the latest year available (2009) is estimated at $33.9 Billion ahead of Kenya's $30.2 Billion which until recently was East Africa's biggest economy, now that bragging right is Ethiopia's.
Ethiopia has enjoyed a double digit economy growth for the past couple of years and The Economist magazine predicts Ethiopia to be the fifth fastest growing economy in the world for 2010. The magazine has criticized the government that few people benefit from the economic growth. Despite the economic growth, Ethiopia still remains to be one of the poorest countries in the world based on GDP per capita and just this week Ethiopian government appealed for aid to feed 5.2 million people.
The good news is that Ethiopia's economy has expanded by more than five fold since the 90s, when Ethiopia's GDP was just $6.0 Billion, but with Ethiopia's population growth, Ethiopia has a long way to become a middle income country.
Ethiopia's GDP per Capita is one of the lowest in the world. Ethiopia has the 10th biggest economy in Africa with South Africa being Africa's economic powerhouse followed by Egypt and Nigeria.
Top 20 African economies sorted by their nominal gross domestic product 2009 GDP
- South Africa
- Côte d'Ivoire
- Equatorial Guinea
- Democratic Republic of the Congo
MELES THE GREAT!!!
wey bragging!!!!!!! silu semta doro tanqa motech new yemlew ayere sew.
Good News, hope to see more progress.
Most important is GDP per capita!!!!!
The GDP grew from $6Bil to $34 Bil. That is over five fold since the EPRDF took power. According the Economist and other economic institutes Ethiopia’s economic growth is spectacular. But not for the illiterate diaspora politicians. Now we have surpassed Kenya and it will bring them a double digit sorrow. When we surpass Egypt they will commit suicide for sure.
[Surpassing Egypt will surely be a huge success considering that both countries have similar population size, but Egypt still has an economy more than 5 times that of Ethiopia. ]
hula hoops….meles like playing that
“silu semta doro tanqa motech new yemlew ayere sew.”
to start with, you are not some one with a country of your own. If you had one you wouldn’t be here sticking your dirty negative nose in somebody else business. secondly, what is wrong with Nazret an ethiopian site updating Ethiopians with positives changes about their country? Needless to say who you are, but regardless of who you may be, there is nothing a cockroach like you can do to stop Ethiopia from moving forward. but I presume you are the usual suspect from Merb melash with a long tradition of wishing Ethiopia ill and I have to remind you that, wishing ill to others is not the way to Singapore. if anything, it is a continuation of the many miscalculation you guys have made through out your history, but you don’t seem to see where it’s taking you cos you are blinded by hatred. keep wet-dreaming
Hi Nazretochi, Please go to some school around to learn Economics 101.
what can i say? wow.
“but Egypt still has an economy more than 5 times that of Ethiopia".
yeh, but the whole point of this news is meant to update us with positive development which means Egypt’s economy may be 5 folds now but was perhaps 10 folds ten years or so a go. So what is the point of spoiling it by comparing the incomparable ? what is that we don’t have that Egypt has to make it past Egypt given the current rate of growth continues. we just need to stay focused and have the right attitude towards achieving the goals. that’s all. thanks for the update any way, you are not all bad
Wow what a great news. Thank you the Ethiopian leadership, spearheaded by Meles the witty.
titi, your knowledge is little and dangerous. Do not you know that GDP per capita grows as GDP increases? Please do some Introduction to Economics courses. You are far behind.
good news where is abebe belew or mirichaw sinishaw can you admit this surprise news.
that’s good we getting better I am proud to be Ethiopian.
Hey- It is all happened because of good investment policy, Let’s contribute what we can , simple way to start is to send home much needed foreign currency to our family . God bless Ethiopia
Most important is GDP per capita!!!!!
No, not necessarily, May be in regards to poverty eradication, yes, but there other equally important things such as National security that needs as much GDP(purchasing power) as possible. it’s just a matter of setting your priority based on circumstances. Now ethiopia’s priority is to fight poverty which is why this development is a result of the relative peace we have been enjoying for the last few years. but unfortunately, peace is not some thing you can have cos you want to, as long as there are some who have nothing better than war to do.
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