Ethiopia’s economy is agriculture dominated. The agriculture sector constitutes approximately half of the gross domestic product. Agriculture in Ethiopia provides employment to 80% of the total workforce in Ethiopia. However, owing to drought conditions and improper cultivation methods, agriculture in Ethiopia has suffered considerable losses.
Coffee exports play an important role in the economy of Ethiopia. In the year 2002, coffee worth USD$156 million was exported to different countries.
Land tenure norms in Ethiopia:
Arable land in Ethiopia is retained by the Government. The Government leases out land to the renters for a specific period of time. This land tenure system adopted by the Government is forbidding the industries to use land as security for taking loans.
Statistics depicting GDP of Ethiopia in 2005:
Currency of Ethiopia is Ethiopian Birr, denoted by the symbol EB.
The GDP was USD$64.73 billion.
GDP per capita was USD$900.
The gross domestic product real growth was 8.9%.
Industries in Ethiopia:
Important industries in Ethiopia include textile, chemicals, processing metals, cement, beverages, food processing.
Land usage in Ethiopia:
10.01% of land in Ethiopia is used for agriculture, 0.65% of land is used for permanent crops and approximately 89.34% is used for other purposes.
Gold, products of leather, oilseeds, live animals, coffee, qat are some of the products Ethiopia exports to other countries.
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Last Updated on : 28th February 2017