Answer to Question #289924 in Macroeconomics for Gadisa Mohammedin

Question

Unemployment and economic growth in Ethiopia

Answer 1

Unemployment Rate in Ethiopia increased to 19.10 percent in 2018 from 16.90 percent in 2016.

The Gross Domestic Product (GDP) in Ethiopia expanded 6.10 percent in the second quarter of 2020 over the same quarter of the previous year.

Ethiopia is among the fastest growing non-oil economies in the world as the government reforms undertaken in recent years have succeeded in opening the economy to foreign direct investments and resulted in expansion of commercial agriculture and manufacturing industry.