Africa ETP News
you are currently viewing::Africa: Ethiopia Becomes Africa's Fifth-Largest Economy After Rebasing GDPNovember 5, 2026-Ethiopia has become Africa's fifth-largest economy after revising its gross domestic product figures to account for sectors including digital finance, services and manufacturing. The country's economy was valued at $210.7 billion in the fiscal year ended July 2026, Finance Minister Fitsum Assefa announced on November 4. The revision places Ethiopia behind South Africa, Egypt, Nigeria and Algeria, and ahead of Morocco and Kenya, based on available GDP estimates. The country previously ranked outside Africa's 5 largest economies. The government updated the base year used to calculate GDP from 2015-16 to 2024-25, increasing the estimated size of the economy in the new base year by 59.2% to $201.4 billion from approximately $126.4 billion. In local currency, GDP for 2024-25 was revised to 24.03 trillion birr from 15.09 trillion birr. Source: allafrica.com |
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