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Capital City Addis Ababa: Addis Ababa is the capital and largest city of Ethiopia. It is also the political, cultural, and economic center of the country. Addis Ababa serves as the headquarters for various international organizations and diplomatic missions.
Five Largest Cities
Addis Ababa: As mentioned, Addis Ababa is not only the capital but also the largest city in Ethiopia. It is known for its diverse population, historical sites, and vibrant cultural scene.
Dire Dawa: Dire Dawa is the second-largest city in Ethiopia and serves as a major commercial and industrial hub in the eastern part of the country. It has a significant trade and transportation industry.
Mekele: Mekele is the capital of the Tigray Region in northern Ethiopia. It is an important cultural and economic center in the region and is known for its historical and archaeological sites.
Gondar: Gondar, located in the Amhara Region, is known for its well-preserved historical sites, including castles and churches. It has a rich history as a former imperial capital.
Awasa: Awasa is the largest city in the Southern Nations, Nationalities, and Peoples' Region (SNNPR) of Ethiopia. It is situated by Lake Awasa and is known for its scenic beauty and tourism potential.
Gross Domestic Product (GDP):
Ethiopia's GDP was estimated to be approximately 96 billion USD (in current U.S. dollars) in 2020.
GDP Growth Rate:
Ethiopia has experienced robust economic growth in recent years, with GDP growth rates often exceeding 8% annually. However, the growth rate can be subject to fluctuations due to various factors.
GDP per Capita:
Ethiopia's GDP per capita was relatively low, at around 1,000 to 1,200 USD (in current U.S. dollars) in 2020, reflecting a large population.
Ethiopia's economy has been characterized by a significant agricultural sector, with agriculture employing a substantial portion of the population. Efforts have been made to diversify the economy into manufacturing and services.
Agriculture is a fundamental sector, with crops like coffee, teff, maize, and other cereals being significant. Livestock farming is also common.
The manufacturing sector has been growing, with a focus on industries such as textiles, food processing, and construction materials.
Ethiopia has invested in infrastructure development, including the construction of roads, railways, and the Grand Ethiopian Renaissance Dam (GERD) on the Blue Nile River.
Ethiopia has sought to attract foreign investment, particularly in the manufacturing sector, through incentives and industrial parks.
Coffee has historically been a major export commodity, but Ethiopia has also diversified its exports to include flowers, textiles, and agricultural products.
The Ethiopian Birr (ETB) is the official currency of Ethiopia.
Ethiopia has faced challenges, including political instability, regional conflicts, and the need for job creation to absorb its rapidly growing population.
The country has sought loans and financing from international organizations and governments to support its development projects.
Ethiopia has established industrial parks, including the Hawassa Industrial Park, to attract foreign investors and promote export-oriented manufacturing.
Major infrastructure projects, such as the GERD and the Addis Ababa-Djibouti Railway, have been significant initiatives for economic development and connectivity.
Five Largest Companies in Ethiopia
Ethiopian Airlines Group:
Ethiopian Airlines is the flagship carrier of Ethiopia and one of the largest and most successful airlines in Africa. It operates both domestic and international flights and has a strong presence in the global aviation industry.
Commercial Bank of Ethiopia (CBE):
The Commercial Bank of Ethiopia is one of the largest and oldest commercial banks in the country. It plays a crucial role in the Ethiopian financial sector, offering a wide range of banking services.
Ethiopian Electric Power Corporation (EEPCo):
EEPCo is a state-owned utility company responsible for generating, transmitting, and distributing electric power in Ethiopia. It plays a vital role in the country's efforts to expand its electricity infrastructure.
Ethiopian Telecommunications Corporation (Ethio Telecom):
Ethio Telecom is the state-owned telecommunications service provider in Ethiopia. It offers fixed-line, mobile, and internet services to the Ethiopian population.
Derba Cement PLC:
Derba Cement is a subsidiary of the Dangote Group, a Nigerian conglomerate. It is one of Ethiopia's major cement producers and plays a significant role in the construction and infrastructure development sectors.
Five Largest Banks in Ethiopia
Commercial Bank of Ethiopia (CBE):
The Commercial Bank of Ethiopia is the largest and oldest commercial bank in the country. It is state-owned and has an extensive network of branches across Ethiopia. CBE offers a wide range of banking services to individuals and businesses.
Awash Bank is one of the largest private commercial banks in Ethiopia. It provides various banking and financial services, including retail and corporate banking, trade finance, and international banking.
Dashen Bank is another prominent private commercial bank in Ethiopia. It offers a range of banking products and services, including retail and corporate banking, electronic banking, and trade finance.
Bank of Abyssinia:
Bank of Abyssinia is a privately owned commercial bank with a growing presence in the Ethiopian banking sector. It provides banking solutions to retail and corporate customers.
Nib International Bank:
Nib International Bank is a private commercial bank in Ethiopia that focuses on providing financial services to both individuals and businesses. It offers various banking products and has expanded its branch network.
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