The second most populous country in Africa – and the most populous landlocked country on earth – Ethiopia is one of the world’s fastest-growing economies.
The Ethiopian economy is currently undergoing extensive privatisation. However, the banking, transport and telecommunications sectors remain in state hands.
Over half of Ethiopia’s population is under 18 years of age and job creation is struggling to keep pace with population growth. There is much to commend Ethiopia to foreign investors, however – the country is relatively open to foreign trade, and infrastructure – especially the country’s rail network – is expanding rapidly.
In recent years, Ethiopia’s exports have diversified – coffee, formerly the country’s foremost export has been overtaken by oilseed. Coffee remains integral to the Ethiopian economy, however – around a quarter of the country’s workforce are employed in coffee cultivation. Other exports include live animals, leather, chemicals, gold, pulses, oilseeds, flowers, fruits and vegetables.
Ethiopia is a beautiful country and home one the world’s oldest civilisations – there is tremendous potential for growth in the tourist sector. Currently, tourism accounts for around 5.5% of national GDP.
HLB’s local team of professionals aims to help local and international clients reach their organisational objectives in Ethiopia.
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