Ethiopia Unveils GDP Rebasing, Economy Reaches 210.7 Billion USD

Finance Minister Fitsum Assefa announced that Ethiopia has completed a GDP rebasing exercise, providing a more accurate assessment of the nation's economic scale. The country's GDP reached 24.03 trillion Birr (201.42 billion USD) in the 2017 Ethiopian fiscal year and expanded to 31.86 trillion Birr (210.7 billion USD) in the 2018 fiscal year.

The revised economic framework is designed to strengthen national fiscal and monetary policies, debt sustainability analysis, and domestic revenue mobilization. Minister Fitsum emphasized that the data aligns with international standards (SNA 2008) and captures structural shifts in the economy, including the growth of digital financial services, trade, and industrial sectors. Government institutions and partners are urged to utilize this data for informed planning and decision-making.