Ethiopia GDP Growth Rate (YoY)
Ethiopia's GDP annual growth rate was 8.1% in 2023, slowing to an estimated 7.3% in 2024. This slowdown is attributed to a normalization after strong post-pandemic recovery despite continued growth in agriculture, services and manufacturing. Ethiopia's record low GDP annual growth rate was 6.1% in 2019 and record high was 10.1% in 2016.
Yearly Historical Data (2015-2024)
(in %)Ethiopia GDP Growth Rate (YoY) : Definition
The Ethiopia Year-over-Year GDP annual growth rate measures the percentage change in Ethiopia's total economic output between two consecutive years. It is calculated by taking the difference between the current year's Gross Domestic Product (GDP) and the previous year's GDP, then dividing that difference by the previous year's GDP and multiplying by 100. This rate indicates the pace of economic expansion or contraction in Ethiopia.