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Ethiopia’s Economy Grew The Fastest In Africa From 2010 to 2019, Averaging 9.45% Per Year

Updated: Feb 8, 2023

Ethiopia was the fastest growing economy in Africa between 2010 and 2019 📈

Ethiopia’s economy experienced strong, broad-based growth averaging 9.4% a year during this period, according to the World Bank.

The consistently higher economic growth brought with it positive trends in poverty reduction in both urban and rural areas. Ethiopia aims to reach lower-middle-income status by 2025.

Africa as a whole grew by 4.0% per year between 2010 and 2019, more than twice that of the EU-28 (1.7%) and Latin America (1.7%) over the same period.

Infographic: International Finance Corporation

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