Market Background

  • Ethiopia is one of the fastest growing economies in the world for more than a decade.  
  • Ethiopia’s economy grows by twelve-fold between 2000 ($8.2 Billion) and 2020 ($95.9 Billion) (WB) 
  • The economy experienced strong, broad-based growth averaging 9.4% a year from 2010/11 to 2019/20 (WB) 
  • Though the economy slowed down due to COVID-19 Ethiopia’s real gross domestic product (GDP) has grown by 6.1% in 2019/20 (WB)  
  • Real GDP growth in 2021 is projected to fall to 2%, then recover to about 8.7% in 2022 (WB) 
  • Ethiopia has the 2nd largest economy in East and Central Africa 
  • Ethiopia became an impressive investment destination in Africa  
  • Ethiopia aims to achieve middle income status by 2025 
  • 117+ Million, expected to reach 200 million by 2050 (UN, 2021)  
  • 2nd Largest Population in Africa  
  • 12th Largest in the World 
  • 2.5% Annual growth rate (UN) 
  • Most populous landlocked country in the world 

Opportunities Livestock Products

  • Ethiopia has the largest livestock population and the highest draft animal population in the continent.  
  • There are opportunities to produce livestock products for both local and export markets.  
  • Milk production expected to reach 9.9 billion liters by 2029 from the current 4.3 billion litters. (FDRE PDC) 
  • Red meat production is expected to increase from 295 thousand ton in 2019/20 to 1.7 million tons by 2029. (FDRE PDC) 

Ethiopia's Main Livestock Products

  • Beef and Veal 
  • Lamb and Mutton 
  • Cow Milk 
  • Leather 

Trade Agreements

  • Ethiopia is among the 31 AU members that ratified the African Continental Free Trade Area (AfCFTA)  
  • Ethiopia is member of Common Market for Eastern and Southern Africa (COMESA)  
  • Ethiopia has signed Bilateral Investment Treaties (BITs) with 30 countries and Double Taxation Avoidance Treaties (DTTs) with12 countries. 
  • Ethiopia is using the opportunity of Generalized System Preferences (GSP), African Growth and Opportunity Act (AGOA) and Everything but Arms (EBA)  

Diplomatic Relations

  • Ethiopia is Africa’s diplomatic capital being a seat for African Union (AU), United Nations Economic Commissions for Africa (UNECA) with its 20+ agencies and the Pan African Chamber of Commerce and Industries (PACCI)  
  • Ethiopia is one of the founding member of the United Nations, Organization of Africa Unity (OAU) now Africa Union (AU), the Group of 24 (G-24), the Non-aligned Movement and G-77 
  • Ethiopia hosts more than 114 diplomatic missions in Addis Ababa.