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Ethiopia Current Account to GDP Ratio

Ethiopia's current account deficit widened to -3.4% of GDP in 2024 from -2.9% in 2023. This widening is driven by a $7.4 billion trade deficit with imports at $13.6 billion and exports at $6.2 billion in 2023. Reliance on essential imports, logistical issues and limited export production contribute to the imbalance. Significant debt servicing costs including a $1 billion Eurobond due in 2024, are pressuring foreign exchange reserves. Ethiopia's record low current account to GDP was -11.5% in 2015 and record high was -2.9% in 2023.

Yearly Historical Data (2015-2024)

(in %)
Year Current Account to GDP Ratio
2024 -3.4%
2023 -2.9%
2022 -4.3%
2021 -3.2%
2020 -4.6%
2019 -5.3%
2018 -6.5%
2017 -8.5%
2016 -10.9%
2015 -11.5%
Ethiopia Current Account to GDP Ratio : Definition
The Ethiopia current account to GDP ratio shows the nation's external balance relative to its total economic size. It is calculated by dividing Ethiopia's current account balance (net exports of goods, services, income and transfers) by its nominal GDP, expressed as a percentage. This ratio highlights the significance of foreign transactions, often influenced by Ethiopia's trade balance within the overall economy.
Indicator Last Value Prior Value Period
Debt to GDP Ratio 32% 38% Dec'24
Interest Rate 15% 15% Aug'25