Ethiopia has been steadily climbing the ranks as one of the top exporting countries in recent years. In 2022, it is expected to maintain its position as a major player in the global market. According to data from the World Trade Organization, Ethiopia's export rank was at 118th place in 2019, but it is estimated to jump up to around 113th place by 2022.
The Gross Domestic Product (GDP) of a country is one of the essential indicators of economic health and growth potential. In recent years, Ethiopia has seen remarkable growth in its GDP figures and this trend is expected to continue into 2022. In 2019, Ethiopia's GDP was recorded at $96 billion, making it one of the fastest-growing economies in Africa.
By 2022, experts project that Ethiopia's GDP will reach $112 billion – an increase of over $16 billion from its current figures. This significant growth can be attributed to various factors such as investments in infrastructure development projects like roads and railways which facilitate trade activities within and outside the country.
Ethiopia as one of Africa's most populous countries with over 115 million people currently living within its borders, it is estimated that by 2022 this number will exceed over120 million people.
The top products exported by Ethiopia are agricultural commodities, which make up for more than three-quarters of its total exports. Coffee remains the country's most valuable export commodity, followed by oilseeds such as sesame seeds and pulses like chickpeas and beans. Other important exports include gold, leather products, textiles, and horticultural products such as flowers and vegetables. The country is also expanding its manufacturing sector with a focus on producing value-added goods for export markets.
In addition to these traditional exports, there has been a significant increase in non-traditional exports in recent years. This includes items such as electronics, minerals, and processed foods. As Ethiopia continues to invest in modernizing its industries and improving production capabilities, these non-traditional exports are expected to grow even further.
China is currently Ethiopia's biggest trading partner with an estimated $3 billion worth of imports from China annually. Other top trading partners include Germany, India, Saudi Arabia, Italy, Turkey,and the United States.