Gross Domestic Product for Ethiopia
MKTGDPETA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
163,697,927,593.98
Year-over-Year Change
412.31%
Date Range
1/1/1960 - 1/1/2023
Summary
The Gross Domestic Product (GDP) for Ethiopia is a key measure of the country's overall economic activity and production. It is an important indicator used by economists and policymakers to assess the health and growth of the Ethiopian economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
GDP represents the total value of all goods and services produced within Ethiopia's borders over a given time period. It is a comprehensive metric that captures economic output across various sectors, including agriculture, industry, and services. Analyzing trends in Ethiopia's GDP provides insights into the nation's economic performance and development.
Methodology
The GDP data is calculated by Ethiopia's Central Statistical Agency based on surveys, administrative records, and other statistical sources.
Historical Context
Ethiopia's GDP figures are closely monitored by the government, international organizations, and investors to inform economic policies and investment decisions.
Key Facts
- Ethiopia's GDP reached $107 billion in 2021.
- The agricultural sector accounts for about 34% of Ethiopia's GDP.
- Ethiopia's GDP has grown at an average annual rate of 7.7% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for Ethiopia measures the total value of all goods and services produced within the country's borders over a given time period.
Q: Why is this trend relevant for users or analysts?
A: Ethiopia's GDP is a crucial indicator of the country's overall economic performance and growth, providing insights for policymakers, investors, and economists.
Q: How is this data collected or calculated?
A: The GDP data is calculated by Ethiopia's Central Statistical Agency based on surveys, administrative records, and other statistical sources.
Q: How is this trend used in economic policy?
A: Ethiopia's GDP figures are closely monitored by the government, international organizations, and investors to inform economic policies and investment decisions.
Q: Are there update delays or limitations?
A: The GDP data may be subject to revisions and updates, and there can be lags in the availability of the most recent figures.
Related Trends
Use of Financial Services, Assets: Outstanding Loans at Other Financial Intermediaries for Ethiopia
ETHFCSMXDC
Net migration for Ethiopia
SMPOPNETMETH
Value of Exports to Ethiopia from Pennsylvania
PAETHA052SCEN
Number of Identified Exporters to Ethiopia from Iowa
IAETHA475SCEN
Real Non-Oil GDP for Ethiopia
ETHNGDPXORPCPPPT
Value of Exports to Ethiopia from Idaho
IDETHA052SCEN
Citation
U.S. Federal Reserve, Gross Domestic Product for Ethiopia (MKTGDPETA646NWDB), retrieved from FRED.