Ministry of National Strategy Report

is not new growth. It is the same economy, measured better.

Ethiopia's national accounts move from a 2015/16 base to 2017 EFY (2024/25), aligned with SNA 2008 and ISIC Rev. 5. Rebasing counts activity the old series could not see. GDP for 2017 EFY is now estimated at ETB 24.03 trillion, up from 15.09.

ETB 24.03 TnRebased GDP, 2017 EFY
USD 201.4 BnUSD equivalent
5th in Africa3rd in Sub-Saharan Africa

Same economy. Sharper picture.

The same year, 2017 EFY (2024/25), measured two ways.

Old lens Base year 2015/16 15.09 ETB trillion · 2017 EFY
USD 126.5 BnIn US dollars

Older prices, sample data, a smaller view of informal activity.

New lens Base year 2024/25 24.03 ETB trillion · 2017 EFY
USD 201.4 BnIn US dollars

Today's prices, two national censuses, SNA 2008 standards.

The economy didn't change. The lens did.

What changed

Three changes to the yardstick. The economy stays where it was.

  1. The old lens

    Base year 2015/16: older prices, sample data, and a smaller view of informal activity. It put 2017 EFY GDP at ETB 15.09 trillion.

  2. 1A new base year

    Prices and sector weights move from 2015/16 to 2024/25.

  3. 2Wider coverage

    Two national censuses bring in activity the old series missed: informal mining, small manufacturing, transport services, FinTech and interest-free banks.

  4. 3International standards

    Methods follow SNA 2008 and ISIC Rev. 5, reviewed by the IMF.

    ETB 24.03 trillion. The economy didn't change. The lens did.

Illustration. Each dot is an equal share of the rebased economy. It does not show how much each change contributed.

What the new lens sees

Activity that was always part of the economy, now counted from census and administrative records.

What it now counts

Informal mining

Artisanal gold and quarrying

Micro-manufacturing

Small workshops from the establishment census

New transport activities

Newly emerged transport activity

Expansion of hospitality

Accommodation and food services

Private clinics

Health and social work

FinTech and interest-free banks

Digital and interest-free financial services

State-owned enterprises

Increased coverage of public enterprises

NPISH

Non-profit institutions serving households

Where the data comes from

Agriculture Census

A full count of crops and livestock replaces scaled sample estimates.

Economic Establishment Census

The first comprehensive census of industry and services.

Integrated Household Survey

Up-to-date patterns of household consumption.

State-owned enterprises

Public-sector output and investment now captured.

FinTech and interest-free banks

Digital and interest-free financial services counted for the first time.

Informal activity

Artisanal mining, micro-manufacturing and market trade.

International standards

Methods aligned with the System of National Accounts 2008 (SNA 2008) and ISIC Rev. 5, so Ethiopia's figures compare like for like with other economies.

Inside the rebased economy

Larger, and well balanced across services, agriculture and industry.

Where output comes from

Services 35.9%

Still the largest sector. Census and tax records now count private clinics, small eateries, hotels and ride-hailing.

  • Health and social work+271%
  • Transport and storage+287%
  • Accommodation and food+219%

Agriculture 31.6%

A full Agriculture Census replaced scaled sample estimates, with updated yields and producer prices.

  • Forestry and fishing+111%
  • Crop production+49%

Industry 30.2%

Industry's share rises 2.4 points, the biggest gain of any sector. The Economic Establishment Census found far more output in power, mining and factories.

  • Electricity and water+495%
  • Mining+245%
  • Manufacturing+161%

Share of GDP by sector. Bars show how far each activity was revised, new estimate against old, all on one scale.

Where output goes

% of GDP, rebased 2017 EFY

Private consumption64.4%
Investment35.3%
Domestic saving30.9%
Trade deficit4.4%

Investment and saving play a far larger role than previously measured, and the trade gap is smaller relative to the economy.

Ratios to GDP fall by about 37%

GDP is 1.59 times larger, so ratios such as debt-to-GDP and tax-to-GDP are lower on the rebased series. The debt and the revenue themselves do not change.

10%6.3%
25%15.7%
50%31.4%
75%47.1%

The economy grew 7.7% in 2018 EFY.

Real GDP growth at constant market prices, measured on the new 2017 EFY base. This is the growth figure. The 59.2% is a revision to the old estimate, not growth.

7.7%Real GDP growth, 2018 EFY
ETB 31.97 TnGDP at current market prices
USD 210.7 BnGDP, USD equivalent

Ethiopia among Africa's largest economies

Top 9 economies in Africa, GDP 2026, USD billion

  1. 1South Africa480.0
  2. 2Egypt429.7
  3. 3Nigeria377.4
  4. 4Algeria317.2
  5. 5Ethiopia210.7
  6. 6Morocco194.3
  7. 7Angola152.4
  8. 8Kenya147.3
  9. 9DR Congo123.4
5th in Africa3rd in Sub-Saharan Africa

Source: IMF, 2026; Ethiopia: rebased estimate, Ministry of National Strategy.

Read the full report

The rebased GDP report sets out the rationale, methodology and key results of the 2017 EFY base year.

The report link appears here shortly.

Questions: Ministry of National Strategy info@mopd.gov.et