Ethiopia Registers a 7.7 % Gross Domestic Product Growth in the 2017/2018 Fiscal Year

Planning and Development Commission announced that Ethiopia had registered a 7.7 % Gross Domestic Product growth in the 2017/2018 fiscal year. The commission stated that the growth did not meet the planned achievement which was 11%.

The commission’s Commissioner Getachew Adem said the major sectors, agriculture, industry, and services, registered 3.5, 12.2, and 8.8 percent growth, respectively. According to the commissioner, the economic growth was deterred by the country’s political unrest, power outage, and foreign currency crunch.

The registered 7.7% total GDP was based on wide range of economic activities. The contribution of these activities by major industrial classification shows that agriculture, industry, and service industries contributed 1.3, 3.1 and 3.3 percent, respectively.

The commission’s report shows that in the 2017/2018 fiscal year, the country’s per capital GDP was USD 883. Between the 2009/2010 fiscal year and the last fiscal year, Ethiopia’s average growth rate was 9.6%.

Source: Ethiopian News Agency

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