Economy
Ethiopia Unveils New GDP Calculation Method, Elevating Economy to Third in Africa
Wazema · 2 hours ago · Read the Full Story on Wazema
AI SUMMARY
Ethiopia's Ministry of Planning and Development has introduced a new GDP calculation method starting from the 2024/25 fiscal year, raising the country's total GDP to 210 billion USD and its economic ranking in Africa to third.
- The Ministry of Planning and Development introduced a new GDP calculation method effective from the 2024/25 fiscal year.
- The previous base year of 1999/2000 failed to account for digital financial transactions, the capital market, summer irrigation development, and corridor development.
- The new methodology incorporates data from recent agricultural and economic enterprise censuses as well as integrated household surveys.
- Ethiopia's total GDP for 2025/26 reached 210 billion USD under the new calculation method.
- The update has moved Ethiopia from eighth to third place among the largest economies in Africa.
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