Ministry of National Strategy Report
GDP rebasing · 2017 EFY base year

Measured properly, how much bigger is Ethiopia's economy than the old estimate?

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

Rebasing updates the base year to 2024/25 and counts activity the old series could not see. GDP for 2017 EFY is now estimated at ETB 24.03 trillion, up from 15.09.

Same economy. Sharper picture.

Switch the lens on 2017 EFY (2024/25). The economy didn't change. The lens did.

GDP, 2017 EFY · new lens 24.03 ETB trillion
In US dollars$201.4 Bn
Rank in Africa5th

Base year 2024/25. Today's prices, two national censuses, SNA 2008 standards.

What changed

Scroll through the three changes. Watch the yardstick move while 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.

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

Increased coverage of non-profit institutions serving households

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

Tap a sector

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.

Revision to the estimate, new against old
Electricity and water+495%
Mining+245%
Manufacturing+161%
%
Old series10%
Rebased6.3%

GDP is 1.59 times larger, so ratios like debt-to-GDP and tax-to-GDP fall by about 37%. The debt and the revenue themselves do not change.

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 moves up 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 Africa up from 8th3rd 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