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National Bank of Ethiopia Annual Report 2019-2020
The National Bank of Ethiopia publishes its 2019-2020 Annual Report, which presents macroeconomic and social indicators, monetary and financial developments, and financial statements for the year ended June 30, 2020. The document details economic performance metrics including GDP growth, inflation, and sectoral contributions, alongside statistical tables on population, health, and education. It also outlines the bank's governance structure, listing the Board of Directors and senior management members responsible for its operations.
National Bank of Ethiopia
Prepared by: Domestic Economic Analysis and publication Directorate National Bank of Ethiopia
Contact Address: P.O.Box 5550 Tel. (00251) 115 51 74 30 Tel. (00251) 115 51 45 88 Email: nbe.excd@ethionet.et Website: http//www.nbe.gov.et Addis Ababa, Ethiopia
Telegraphic Address: NATIONAL BANK, TELEX21020,CODES USED PETERSON 3rd & 4th ED BENTELY 2ND PHRAS A.B.C....6TH EDITION
This Publication can be acquired by subscription or exchange Place Contact:- National Bank of Ethiopia DEAPD P.O.Box 5550
Tel. +251-11 517 2247 / 11 517 5297 Addis Ababa
2019/20 Annual Report
Currency and Time
| Cureency | Curency Unit: Birr(Br) |
| Exchange Rate: Look at 84 | |
| Time | Fiscal Year: July 8th to july 7th |
| Coffee Year: October to September | |
| Calender Year: September 11 to September 10 |
** There is a difference of about 73/4 Years between the Gergorian and the Ethiopian Calendar
NBE BOARD OF DIRECTORS
- H.E. Mr. Ahmed Shide (Member)
- H.E. Ambassador Girma Birru (Chairman)
- H.E. Dr. Eyob Tekalign (Member)
- H.E Mr. Tekelewold Atnafu (Member)
- H.E. Dr. Yinager Dessie (Governor)
- Mr. Gebreyesus Gunte (Member & Secretary)
EXECUTIVE MANAGEMENT MEMBERS
- H.E. Mr. Fikadu Digafie (Vice Governor & Chief Economist, Monetary Stability Cluster)
- H.E. Dr. Yinager Dessie (Governor & Chairman)
- H.E. Mr. Solomon Desta (Vice Governor Financial Institution Cluster)
- H.E. Mr. Eyob G-Eyesus (Vice Governor, Corporate Service Cluster)
- Mr. Abate Mitiku (Director, Change Management, Planning and Communication Directorate)
- Mr. Gebreyesus Gunte (Member & Secretary)
NBE SENIOR MANAGEMENT MEMBER
- H.E. Dr. Yinager Dessie (Governor & Chairman)
- H.E. Mr. Fikadu Digafie (Vice Governor & Chief Economist, Monetary Stability Cluster)
- H.E. Mr. Eyob G-Eyesus (Vice Governor, Corporate Service Cluster)
- H.E. Mr. Solomon Desta (Vice Governor Financial Institution Cluster)
- Mr. Gebreyesus Gunte (Senior Advisor)
- Mr. Nigusse Aklog (Advisor to Vice Governor, Corporate Services)
- Mr. Mulualem Eshetu (Advisor to Vice Governor & Chief Economist Monetary Stability Cluster)
- Mr. Abate Mitiku (Director, Change Management, Planning and Communication Directorate)
- Mr. Merga Wakweya (Advisor to Vice Governor, Financial Institution Supervision)
NBE SENIOR MANAGEMENT MEMBER
- Mr. Habtamu Wokineh (Director, External Economic Analysis and International Relations Directorate)
- Mr. Fitsum Tsehaye (Director, Domestic Economic Analysis and Publication Directorate)
- Ms. Woyenshet Zeberga (Director, Monetary & Financial Analysis Directorate)
- Mr. Befekadu Gashaw (Director, Economic Modeling & Statistical Analysis Directorate)
- Mr. Wondimench Asrat (Director, Internal Audit & Risk Management Directorate)
- Ms. Yenehassab Tadesse (Director, Foreign Exchange Monitoring & Reserve Management Directorate)
- Mr. Abebe Senbete (Director, Currency Management Directorate)
- Mr. Tebebe H-Giorgis (D-Director, Foreign Exchange Monitoring and Reserve Management Directorate)
- Mr. Mohammed Abdela (D-Director, Change Management, Planning and Communication Directorate)
- Mr. Frezer Ayalew (Director, Bank Supervision Directorate)
- Mr. Belay Tulu (Director, Insurance Supervision Directorate)
- Mr. Asfaw Abera (Director Microfinance Institutions Supervision Directorate)
NBE SENIOR MANAGEMENT MEMBER
- Mr. Temesegen Zeleke (Head, Financial Inclusion Technical Secretariat)
- Zelalem Abera (Director, Procurment and Service Management Directorate)
- Mr. Getachew Sisay (Director, Corporate & Finance Directorate)
- Mr. Gobena Worana (D-Director, Bank Supervision Directorate)
- Ms Kibre Moges (Director, Legal Services Directorate)
- Mr. Kassahun Yohannes (A-Director, Ethiopian Institute of Financial Studies)
- Mr. Wondewosen Tsegaw (Director, Information System Management Directorate)
- Ms. Workabeba Bahiru (Director, Human Resource Management Directorate)
- Ms. Martha Hailemariam (Director, Payment & Setlment Service Directorate)
- Mr. Gebeyaw Takele (Director, Project Managment Office)
- Mr. Eyasu Teshome (Director, Engineering, Transport and Service Management Directorate)
Table of content
- ETHIOPIA:MACRO ECONOMIC & SOCIAL INOICATORS ............. IX
- GOVERNER NOTE ........................................................................... 1
- I.Overall Economic Performance ....................................................... 5
- 1.1 Economic Growth ....................................................................... 5
- 1.2 GDP by Expenditure Component ............................................... 11
- 1.3 Micro and Small-Scale Enterprises ............................................ 13
- 1.4 Access to Water Supply ............................................................. 16
- 1.5 Road Sector Development ......................................................... 18
- 1.6 Developments in Education Sector ............................................ 23
- 1.7 Telecommunication .................................................................... 26
- II. ENERGY PRODUCTION
- 2.1 Electric Power Generation.......................................................... 30
- 2.2 Volume and Value of Petroleum Imports ................................... 31
- III. PRICE DEVELOPMENTS
- 3.1 Developments in Consumer Price at National Level ................. 36
- 3.2 Consumer Price Developments in Regional States ................... 40
- IV. MONETARY AND FINANCIAL DEVELOPMENTS
- 4.1 Monetary Developments and Polic ............................................ 45
- 4.2 Developments in Interest Rate ................................................... 49
- 4.3 Developments in Financial Sector .............................................. 50
- 4.4. Financial Activities of NBE ........................................................ 59
- 4.5. Developments in Financial Markets .......................................... 60
- V. DEVELOPMENTS IN EXTERNAL SECTOR
- 5.1 Overall Balance of Payments ..................................................... 66
- 5.2. Developments in Merchandise Trade ....................................... 69
- 5.3 Services and Transfers .............................................................. 79
- 5.4. Current Account ......................................................................... 81
- 5.5 Capital Account .......................................................................... 81
- 5.6 Changes in Reserve Position ..................................................... 82
- 5.7 External Debt .............................................................................. 82
- 5.8 Developments in Foreign Exchange Markets.............................. 84
- VI. GENERAL GOVERNMENT FINANCE
- 6.1. General ...................................................................................... 90
- 6.2. Revenue and Grants ................................................................. 91
- 6.3.Expenditure ................................................................................ 94
- 6.4 Deficit Financing ........................................................................ 95
- VII. INVESTMENT
- 7.1. Investment by Sector ................................................................ 101
- 7.2 Distribution by Region ............................................................... 103
- VIII. INTERNATIONAL DEVELOPMENTS
- 8.1. International Economic Developments ..................................... 105
- 8.2. Implications of International Economic .................................... 108
- FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020 ... 109
- STATEMENT OF DIRECTOR'S RESPONSIBILITY ........................... 110
- INDEPENDENT AUDITOR'S REPORT .............................................. 111
- STATEMENT OF PROFIT OR LOSS & OTHER COMPREHENSIVE INCOME ........................................................................................... 114
- STATEMENT OF FINANCIAL POSITION ......................................... 115
- STATEMENT OF CHANGE IN EQUITY ............................................ 116
- STATEMENT OF CASH FLOW ......................................................... 117
- NOTES TO THE FINANCIAL STATEMENTS .................................... 119
- STATISTICAL TABLES ..................................................................... 219
Ethiopia: Macroeconomic and Social Indicators
| Indicators | 1999/00 (1992) | 2000/01 (1993) | 2001/02 (1994) | 2002/03 (1995) | 2003/04 (1996) | 2004/05 (1997) | 2005/06 (1998) | 2006/07 (1999) | 2007/08 (2000) | 2008/09 (2001) | 2009/10 (2002) | 2010/11 (2003) | 2011/12 (2004) | 2012/13 (2005) | 2013/14 (2006) | 2014/15 (2007) | 2015/16 (2008) | 2016/17 (2009) | 2017/18 (2010) | 2018/19 (2011) | 2019/20 (2012) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. Country Profile | |||||||||||||||||||||
| Land Area (total, in Sq Km) | 1.14 million | 1.14 million | 1.14 million | 1.14 million | 1.14 million | 1.14 million | 1.14 million | 1.14 million | 1.14 million | 1.14 million | 1.14 million | 1.14 million | 1.14 million | 1.14 million | 1.14 million | 1.14 million | 1.14 million | 1.14 million | 1.14 million | 1.14 million | 1.14 million |
| Arable Land (% of total area) | 45.0 | 45.0 | 45.0 | 45.0 | 45.0 | 45.0 | 45.0 | 45.0 | 45.0 | 45.0 | 45.0 | 45.0 | 45.00 | 45.00 | 45.00 | 45.00 | NA | NA | NA | 15.2 | 10 |
| Irrigated Land (% of total area) | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.0 | 3.00 | 3.00 | 3.00 | 3.00 | NA | NA | 2,900.00 | 3,100.00 | 5.00 |
| Population Density ( person per sq km)* | 85.6 | 88.1 | 90.7 | 93.2 | 95.8 | 99.7 | 101.2 | 99.6 | 102.1 | 104.7 | 107.40 | 110.14 | 112.94 | 115.76 | 118.61 | 121.50 | |||||
| 2. Social Indicators | |||||||||||||||||||||
| Population total, in millions (Mid-year population) | 60.0 | 61.6 | 63.2 | 64.8 | 66.56 | 68.30 | 70.00 | 72.40 | 74.90 | 76.8 | 78.80 | 80.70 | 82.7 | 84.8 | 87.0 | 89.1 | 91.2 | 93.4 | 95.5 | 97.6 | 99.75 |
| (o/w Urban Population, in %) | 14.9 | 15.1 | 15.3 | 15.5 | 15.7 | 15.97 | 16.21 | 16.45 | 16.7 | 16.14 | 16.30 | 16.80 | 18.3 | 18.6 | 19.0 | 19.5 | 19.9 | 20.3 | 20.8 | 21 | 22.8 |
| Working Age Population (In Millions) | |||||||||||||||||||||
| Total | 5.6 | 6.1 | 6.4 | 6.5 | 6.9 | 7.6 | 8.0 | 8.4 | 8.92 | 9.43 | 10.0 | NA | |||||||||
| Male | 28.6 | 28.8 | 30.5 | 31.4 | 32.6 | 33.2 | 32.9 | 31.3 | 33.0 | 33.89 | 34.83 | 35.8 | 36.8 | 37.7 | 38.7 | 39.7 | 40.8 | 49 | 49.8 | NA | |
| Total | 33.6 | 34.9 | 36.2 | 37.0 | 38.4 | 39.6 | 40.7 | 40.6 | 39.3 | 41.4 | 42.82 | 44.26 | 45.7 | 47.3 | 48.8 | 50.4 | 52.0 | 53.6 | 56 | 59.9 | NA |
| Age Dependency Ratio | 87.8 | 87.2 | 86.6 | 85.2 | 84.3 | 83.5 | 83.2 | 83.0 | 83.0 | 83.00 | 83.00 | ||||||||||
| Life Expectancy at Birth ( Male - Female ) | 53.4-53.4 | 53.4-53.4 | 53.4-53.4 | 53.4-53.4 | 53.4-53.4 | 53.4-53.4 | 55.6-57.9 | 53.4-55.4 | 53.4-55.4 | 53.4-55.4 | 53.4-55.4 | 53.4-55.4 | 53.4-55.4 | 53.4-55.4 | 60.2-64.2 | 60.2-64.2 | 60.2-64.2 | 60.2-64.2 | 62.4-66.7 | 62.4-66.7 | 62.4-66.7 |
| Crude Birth Rate | 44.2-1.000 | 39.9-1.000 | 39.9-1.000 | 39.9-1.000 | 39.9-1.000 | 35.7-1.000 | 36.9-1.000 | 36.9-1.000 | 35.7-1.000 | NA | 33.0-1.000 | 30.3-1.000 | 30.3-1.000 | 30.3-1.000 | 30.3-1.000 | 30.3-1.000 | 30.3-1.000 | 27-1000 | 27-1000 | 27-1000 | 27-1000 |
| Crude Death Rate | 15-1.000 | 12.6-1.000 | 12.6-1.000 | 12.6-1.000 | 12.6-1.000 | 10.8-1.000 | 10.8-1.000 | 10.8-1.000 | 10.8-1.000 | NA | 9.2-1.000 | 9.2-1.000 | 7.2-1.000 | 7.2-1.000 | 7.2-1.000 | 7.2-1.000 | 7.2-1.000 | 6.30 | 6 | 6 | 6 |
| Natural Rate of Population Increase (in %) | 2.7 | 2.7 | 2.7 | 2.7 | 2.7 | 2.7 | 2.7 | 2.7 | 2.7 | 2.7 | 2.40 | 2.40 | 2.31 | 2.31 | 2.31 | 2.31 | 2.31 | 2.07 | 2.07 | 2.07 | 2.07 |
| Total Fertility Rate | 5.8child/W | 5.8child/W | 5.8child/W | 5.8child/W | 5.8child/W | 5.8child/W | 5.8child/W | 5.8child/W | 5.8child/W | 5.8child/W | 3.4child/W | 3.4child/W | 3.4child/W | 3.4child/W | 3.4child/W | 3.4child/W | 3.4child/W | 3.4child/W | 3.4child/W | 3.4child/W | 3.4child/W |
| People: Hospital Beds | 5,027.2-1 | 6,086.6-1 | 5,740.8-1 | 6,479.2-1 | 5,721.4-1 | 5,721.4-1 | 5,028.1-1 | 5,298.7-1 | 5,088.8-1 | 5,088.8-1 | 7,815.1 | NA | NA | 2516-1 | NA | NA | 2850-1 | 2850-1 | 2850-1 | 3150-1 | 2750 |
| People: Physician | 50,273.2-1 | 47,836.0-1 | 34,005.1 | 34,005.1 | 36,594.1 | 29,777.1 | 35,493.1 | 49,888.1 | 36,374.1 | 36,175.1 | 56,013.1 | 53,642.1 | 28,847.1 | 32,132.1 | 20,970.1 | 17,160.1 | 14,045.1 | 22,766.1 | 26,635.1 | 2750 | 9977 |
| People: Nurse | 9,458.5-1 | 8,461.0-1 | 5,236.0-1 | 4,879.1 | 4,621.1 | 3,598.6 | 4,206.1 | 4,601.1 | 4,524.1 | 3,070.1 | 3,012.1 | 2,269.1 | 1,884.1 | 1,884.1 | 1,884.1 | 1999:01:00 | 1194:1 | 1780:1 | 1624:1 | 1705 | |
| Infant Mortality Rate | 110.1-1000 | 97.1-1000 | 97.1-1000 | 97.1-1000 | 97.1-1000 | 100.1-1000 | 77.1-1000 | 77.1-1000 | 77.1-1000 | 77.1-1000 | 77.1-1000 | 77.1-1000 | 59.1-1000 | 59.1-1000 | 62.4-1000 | 62.4-1000 | 62.4-1000 | 53.3-1000 | 53.3-1000 | 53.3-1000 | 43.3-1000 |
| Access to Safe Water ( in %) | |||||||||||||||||||||
| Country Level | 30.0 | 30.0 | 30.0 | 30.0 | 35.9 | 45.6 | 47.3 | 52.5 | 59.5 | 66.2 | 68.50 | 73.30 | 58.3 | 68.5 | 76.7 | 84.0 | 61.0 | 66.0 | 71.0 | 76 | 79 |
| Urban Population | 72.0 | 75.7 | 75.7 | NA | NA | 82.0 | 82.0 | 86.2 | 86.2 | 88.6 | 91.50 | 92.50 | 78.7 | 81.3 | 84.2 | 91.0 | 52.5 | 55.0 | 60.0 | 68 | 66.5 |
| Rural Population | 24.0 | 17.1 | 19.9 | NA | 25.2 | 38.4 | 42.2 | 46.4 | 53.9 | 61.5 | 65.80 | 71.30 | 55.2 | 65.5 | 75.5 | 82.0 | 63.1 | 68.0 | 74.0 | 79 | 82.7 |
| Student-School Ratio | |||||||||||||||||||||
| Primary (1-8) | 56.1 | 61.1 | 63.1 | 64.1 | 65.1 | 66.1 | 62.1 | 59.1 | 57.1 | 54.1 | 57.3 | 59.0 | 57.1 | 57.1 | 47.1 | 46.1 | 39.1 | 39 | 39 | ||
| Secondary (9-12) | 43.1 | 43.1 | 34.1 | 48.1 | 48.1 | 51.1 | 51.1 | 43.1 | 43.1 | 41.1 | 41.1 | 36.1 | 31.1 | 29.1 | 24.7 | 27.1 | 26.1 | 26.5 | 22.5 | 24 | |
| Technical & Vocational | 9.1 | 9.1 | 17.1 | 25.1 | 22.1 | 22.1 | 20.1 | 25.1 | 25.1 | 34.1 | 34.1 | 29.1 | 24.7 | 18.1 | 16.5 | 16.5 | 12.6 | 13.3 | 13.3 | ||
| Student-School Ratio | |||||||||||||||||||||
| Primary (1-8) | 563.1 | 617.5 | 674.0 | 724.1 | 690.0 | 654.1 | 677.1 | 657.1 | 619.1 | 573.1 | 590.1 | 576.1 | 571.1 | 571.3 | 744.9 | 931.1 | 528 | 528 | 528 | ||
| Secondary (9-12) | 982.1 | 1331.2 | 1681.0 | 1222.1 | 1312.1 | 1359.0 | 1425.1 | 1440.1 | 1381.1 | 1345.1 | 1270.1 | 1166.0 | 1033.1 | 994.1 | 569.3 | 767.3 | 568 | 568 | 940 | ||
| Technical & Vocational | 267.1 | 271.6 | 271.6 | 353.1 | 552.1 | 534.1 | 468.1 | 493.1 | 501.1 | 673.1 | 788.1 | 735.1 | 654.1 | 544.1 | 545.1 | 383.1 | 246.8 | 246.8 | NA | ||
| 3. Macroeconomic Indicators | |||||||||||||||||||||
| 3.1: Real sector developments | |||||||||||||||||||||
| GDP at Current Market Price (In Ms. Birr) | 65986.0 | 67351.0 | 65895.0 | 72703.0 | 85800.0 | 103334.0 | 130170.0 | 170281.0 | 245836.0 | 332060.0 | 379135.0 | 515078.5 | 747226.5 | 866661.1 | 1060825.4 | 1297961.4 | 1568097.5 | 1717127.2 | 1834066.5 | 1987157.5 | 3373449.0 |
| Nominal GDP Growth Rate (in %) | 9.0 | 2.1 | -2.2 | 10.3 | 18.0 | 20.4 | 25.9 | 30.8 | 44.4 | 35.1 | 14.2 | 35.9 | 45.1 | 16.0 | 22.4 | 22.4 | 18.2 | 17.7 | 21.4 | 23.3 | 25.5 |
| Average Marginal Exchange Rate (Birr per USD) | 8.1 | 8.3 | 8.5 | 8.6 | 8.6300 | 8.6518 | 8.6810 | 8.7943 | 9.2400 | 10.4200 | 12.89 | 16.1 | 15.3 | 18.3 | 19.1 | 20.1 | 21.10 | 22.40 | 26.10 | 28.05 | 31.34 |
| GDP at Current Market Price (in M. USD) | 8106.4 | 8085.4 | 7716.0 | 8473.5 | 9942.1 | 12184.2 | 15013.7 | 19362.7 | 26605.8 | 31867.6 | 29411.3 | 31957.1 | 43314.2 | 47424.6 | 55628.0 | 64572.5 | 74297.0 | 81760.0 | 84318.0 | 98107.0 | 107660.0 |
| Nominal GDP per Capita (In USD) | 135.1 | 131.3 | 122.1 | 130.8 | 149.5 | 178.4 | 214.5 | 267.4 | 355.2 | 415 | 373.26 | 396.1 | 523.7 | 559.3 | 639.4 | 724.8 | 815.0 | 876.0 | 883.0 | 985.0 | 1080.0 |
| Real GDP per Capita (in Birr) | 3313.8 | 3495.7 | 3458.8 | 3300.5 | 3676.2 | 3976.7 | 4300.5 | 4634.2 | 4962.8 | 5266.1 | 5776.60 | 5895.0 | 6947.5 | 7625.2 | 8571.2 | 8864.0 | 18257.5 | 19204.9 | 20360.2 | 21144.1 | 21144.1 |
| Real GDP per Capita Growth Rate (in %) | 4.8 | 5.5 | -1.1 | -4.5 | 11.4 | 8.2 | 8.1 | 7.8 | 7.1 | 6.1 | 9.7 | 2.0 | 17.9 | 9.8 | 12.4 | 3.4 | 8.4 | 5.2 | 6.0 | 4.0 | 3.8 |
| GDP Deflator (% change) | 7.5 | 1.8 | 2.3 | 12.8 | 11.8 | 11.2 | 15.6 | 21.2 | 33.8 | 27.2 | 4.1 | 33.2 | 23.3 | 5.5 | 9.0 | 18.2 | 9.0 | 12.5 | 14.7 | 18.2 | 18.2 |
| Real GDP at constant market price (in Ms. Birr) | 184625.1 | 198210.0 | 201561.9 | 220477.9 | 226477.9 | 248154.7 | 277013.3 | 309688.8 | 344319.8 | 378907.8 | 418445.5 | 475647.5 | 517026.5 | 568432.3 | 626977.4 | 692221.7 | 1449397.5 | 1596481.6 | 1719489.7 | 1874689.2 | 1989519.0 |
| Real GDP at constant market price (in Ms. Birr) | 198827.1 | 215332.6 | 218594.3 | 213870.3 | 242897.6 | 301032.7 | 335319.0 | 371716.7 | 404437.0 | 455196.0 | 515078.8 | 559621.6 | 618842.2 | 682358.5 | 753229.7 | 1568097.5 | 1717127.2 | 1834066.5 | 1987157.5 | 2109122.2 | 2109122.2 |
| Real GDP Growth Rate (in %) | 3.4 | 7.6 | 1.6 | -2.1 | 13.6 | 23.9 | 11.4 | 10.8 | 8.8 | 12.5 | 13.2 | 8.6 | 10.6 | 10.3 | 10.4 | 10.3 | 9.4 | 9.5 | 8.3 | 6.1 | 6.1 |
| Agriculture & Allied Activities(in Billion Birr) | 102.1 | 111.9 | 109.8 | 98.3 | 115.0 | 130.5 | 144.8 | 158.5 | 170.5 | 181.2 | 195.00 | 212.50 | 222.9 | 238.8 | 251.8 | 287.8 | 544.1 | 580.4 | 600.9 | 624 | 650 |
| Industrial Sector (in Billion Birr) | 17.2 | 18.6 | 20.2 | 21.4 | 23.7 | 25.9 | 28.7 | 32.5 | 36.5 | 41.2 | 45.80 | 51.20 | 56.6 | 62.3 | 68.5 | 75.9 | 413.8 | 464.4 | 526.2 | 576.9 | 576.9 |
| Service Sector (in Billion Birr) | 79.4 | 84.8 | 91.6 | 99.1 | 107.6 | 117.6 | 128.6 | 144.1 | 163.9 | 185.10 | 216.60 | 237.4 | 258.8 | 282.3 | 308.5 | 345.5 | 575.9 | 619.3 | 673.9 | 745.7 | 786.8 |
| Agriculture & Allied Activities (% of GDP) | 55.3 | 56.4 | 56.7 | 55.4 | 56.7 | 54.5 | 51.5 | 48.8 | 47.1 | 46.13 | 44.37 | 42.1 | 42.0 | 40.2 | 38.7 | 37.5 | 36.4 | 34.9 | 33.3 | 32.7 | 32.7 |
| Industrial Sector (% of GDP) | 9.5 | 9.5 | 10.3 | 11.3 | 11.6 | 10.8 | 10.2 | 10.0 | 10.1 | 10.50 | 10.42 | 10.1 | 10.7 | 10.5 | 10.5 | 9.9 | 23.7 | 25.9 | 28.1 | 29.0 | 29.0 |
| Service Sector (% of GDP) | 43.1 | 43.1 | 46.3 | 52.6 | 53.1 | 49.1 | 45.7 | 44.4 | 45.3 | 47.10 | 49.30 | 47.0 | 48.8 | 47.6 | 47.4 | 45.0 | 39.7 | 38.8 | 39.2 | 39.8 | 39.5 |
| Private Consumption Expenditure | 45611.0 | 47981.0 | 46336.3 | 60866.8 | 81445.0 | 102537.0 | 130118.0 | 171411.0 | 268802.0 | 309132.00 | 373088.0 | 541556.3 | 616901.2 | 744447.0 | 1042265.0 | 1219386.8 | 174599.0 | 203608.0 | 225523.0 | 247362.0 | 307769.0 |
| Government Consumption Expenditure | 12615.0 | 10543.0 | 10448.0 | 10432.0 | 11973.0 | 13971.0 | 19172.0 | 21554.0 | 31544.0 | 34401.00 | 53147.10 | 62044.5 | 77633.9 | 98121.0 | 116996.0 | 174599.0 | 203608.0 | 225523.0 | 247362.0 | 307769.0 | 307769.0 |
| Investment | 14647.0 | 15870.7 | 12395.0 | 17669.0 | 24492.0 | 35952.0 | 41227.0 | 68250.0 | 85600.0 | 102403.00 | 165580.0 | 277247.3 | 295456.4 | 402422.0 | 511611.6 | 585665.0 | 704596.0 | 756162.0 | 948866.0 | 1037685.0 | 1037685.0 |
| Exports | 8010.0 | 8146.0 | 8389.0 | 9779.0 | 12913.6 | 16079.0 | 21854.2 | 28517.0 | 35233.0 | 52638.00 | 83949.80 | 102877.1 | 123496.0 | 121499.0 | 121532.2 | 122501.0 | 139830.0 | 184282.0 | 213437.0 | 239229.0 | 239229.0 |
| Imports | 15952.8 | 16108.4 | 17708.6 | 20131.3 | 27366.8 | 48092.4 | 55588.7 | 76564.0 | 126319.0 | 146319.00 | 186236.0 | 236384.7 | 251300.6 | 308691.3 | 393189.0 | 424750.4 | 430233.0 | 502113.0 | 561512.0 | 571230.0 | 571230.0 |
| Resource Balance | -7942.8 | -7962.4 | -9319.6 | -10352.3 | -14453.2 | -21699.4 | -33734.5 | -48047.0 | -74151.0 | -75100.00 | -102286.2 | -133498.0 | -127804.6 | -187192.3 | -271656.8 | -302249.0 | -290403.0 | -317831.0 | -348075.0 | -332001.0 | -332001.0 |
| Gross Private Consumption (% of GDP) | 69.1 | 71.2 | 74.8 | 70.9 | 77.3 | 78.7 | 76.4 | 80.7 | 81.54 | 72.43 | 72.5 | 73.5 | 78.5 | 80.2 | 78.5 | 75.7 | 75.7 | 75.7 | 75.7 | 75.7 | 75.7 |
| Gross Government Consumption (% of GDP) | 19.1 | 15.7 | 15.9 | 14.3 | 13.1 | 13.1 | 11.2 | 10.5 | 9.18 | 9.12 | 8.3 | 9.0 | 9.2 | 9.0 | 9.7 | 12.3 | 10.2 | 12.4 | 12.4 | 12.4 | 12.4 |
| Gross Domestic Fixed Investment (% of GDP) | 22.2 | 23.6 | 18.8 | 24.3 | 26.8 | 27.8 | 29.5 | 30.5 | 30.5 | 30.5 | 30.5 | 30.5 | 30.5 | 30.5 | 30.5 | 30.5 | 30.5 | 30.5 | 30.5 | 30.5 | 30.5 |
| Resource Balance (% of GDP) | -12.0 | -11.8 | -14.2 | -14.6 | -16.8 | -22.2 | -25.9 | -28.2 | -30.2 | -29.9 | -19.6 | -14.86 | -13.7 | -15.3 | -17.5 | -17.5 | -17.5 | -17.5 | -17.5 | -17.5 | -17.5 |
Continued....
| Indicators | 1999/00 (1992) | 2000/01 (1993) | 2001/02 (1994) | 2002/03 (1995) | 2003/04 (1996) | 2004/05 (1997) | 2005/06 (1998) | 2006/07 (1999) | 2007/08 (2000) | 2008/09 (2001) | 2009/10 (2002) | 2010/11 (2003) | 2011/12 (2004) | 2012/13 (2005) | 2013/14 (2006) | 2014/15 (2007) | 2015/16 (2008) | 2016/17 (2009) | 2017/18 (2010) | 2018/19 (2011) | 2019/20 (2012) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3.2: Monetary Indicators | |||||||||||||||||||||
| Narrow Money Supply (M1) (In Mn. Birr) | 13050.2 | 13745.8 | 15182.4 | 16646.7 | 19065.9 | 21289.8 | 23811.9 | 29773.4 | 36875.5 | 42112.7 | 52434.6 | 76171.00 | 94849.88 | 114745.69 | 134063.78 | 154706.34 | 178609.66 | 216794.60 | 281154.70 | 308937.1 | 360585.5 |
| Broad Money Supply (M2) (In Mn. Birr) | 22177.8 | 24516.2 | 27322.0 | 30090.1 | 34655.9 | 40212.1 | 46377.4 | 56860.3 | 69918.2 | 82509.8 | 104432.4 | 145376.97 | 189398.78 | 235313.59 | 297746.59 | 371328.91 | 445246.25 | 573408.60 | 740572.50 | 886752.5 | 1,037,646.3 |
| Net Foreign Assets (In Mn. Birr) | 4770.6 | 4800.0 | 7822.5 | 11049.2 | 11766.9 | 13868.0 | 12109.6 | 13927.3 | 12140.6 | 17976.8 | 27189.8 | 55534.68 | 39787.69 | 45648.53 | 45972.30 | 37570.95 | 21524.19 | 39376.20 | 39376.20 | 14505.2 | (22,101.0) |
| Reserve Requirement (CB's) | 924.1 | 1081.8 | 1163.9 | 1320.3 | 1549.35 | 1828.4 | 2120.9 | 2592.5 | 9112.9 | 11183.3 | 14368.0 | 20495.20 | 18080.56 | 11708.82 | 14479.39 | 18250.35 | 21745.43 | 28280.80 | 36385.80 | 44861.8 | 51952.6 |
| Interest Rate (in %) | |||||||||||||||||||||
| Minimum Deposit Rate | 6.0 | 6.0 | 3.0 | 3.0 | 3.0 | 4.0 | 4.0 | 4.0 | 4.0 | 4.0 | 5.0 | 5.0 | 5.0 | 5.0 | 5.0 | 5.0 | 5.0 | 5.0 | 7.0 | 7.0 | 7.0 |
| Lending Rate | 10.5-13.5 | 10.5-15.0 | 10.5-15.0 | 10.5-15.0 | 10.5-15.0 | 10.5-15.0 | 10.5-15.0 | 10.5-15.0 | 10.5-15.0 | 10.5-15.0 | 10.5-15.0 | 10.5-15.0 | 10.5-15.0 | 10.5-15.0 | 10.5-15.0 | 10.5-15.0 | 10.5-15.0 | 10.5-15.0 | 10.5-15.0 | 13.5 | 14.3 |
| Total Net Domestic Credit (in mn. Birr) | 26271.0 | 27553.6 | 27550.2 | 28203.2 | 31138.78 | 40358.5 | 49295.9 | 61585.0 | 80772.6 | 89203.0 | 104413.5 | 135537.87 | 189089.11 | 233404.32 | 300026.58 | 393421.73 | 490230.35 | 631092.70 | 784621.70 | 963699.9 | 1,190,705.1 |
| GOVERNMENT | 14777.7 | 15171.0 | 15985.1 | 17229.8 | 19199.154 | 21663.8 | 25266.2 | 30290.2 | 34169.2 | 32776.5 | 33013.1 | 28661.65 | 21557.41 | 21991.29 | 26929.73 | 47548.36 | 85441.78 | 102002.80 | 109799.20 | 14777.7 | 150861.6 |
| Other Sectors | 11495.3 | 12380.6 | 11565.1 | 10972.6 | 11939.627 | 18642.0 | 24029.6 | 31294.8 | 46603.4 | 56416.5 | 71400.4 | 106902.22 | 167523.40 | 211438.80 | 273096.84 | 362686.44 | 442681.99 | 545650.85 | 682618.90 | 853900.7 | 1,039,843.5 |
| 3.3: Average annual inflation rate (CPI growth rate)² | |||||||||||||||||||||
| Country Level | |||||||||||||||||||||
| -General inflation | 5.4 | -0.3 | -10.6 | 10.9 | 7.3 | 6.1 | 10.6 | 15.8 | 25.3 | 36.4 | 2.8 | 18.1 | 34.1 | 13.5 | 8.1 | 9.7 | 7.4 | 14.6 | 12.6 | 19.9 | |
| -Food inflation | 7.6 | -1.7 | -19.1 | 21.5 | 11.5 | 7.4 | 13.0 | 17.5 | 34.9 | 44.2 | -15.7 | 42.9 | 12.6 | 13.1 | 12.6 | 13.1 | 23.3 | ||||
| -Non-food inflation (core inflation) | 2.5 | 1.4 | 0.3 | 0.2 | 2.2 | 4.4 | 7.1 | 13.5 | 12.5 | 23.5 | 18.2 | 21.8 | 22.7 | 14.8 | 10.6 | 8 | 8.1 | 7.5 | 15.8 | 15.8 | 13.9 |
| Addis Ababa | |||||||||||||||||||||
| -General inflation | 4.2 | -1.4 | -5.5 | 4.6 | 5.6 | 7.2 | 8.4 | 19.2 | 20.8 | 29.4 | 10.1 | 19.4 | 24.8 | 12.6 | 8.5 | 7.6 | 10.3 | 2.3 | 16.5 | 14.6 | 18.8 |
| -Food inflation | 7.2 | -7.8 | -9.4 | 8.6 | 5.7 | 13.0 | 23.4 | 32.1 | 41.5 | 4.1 | 14.8 | 13.6 | 13.1 | 4.6 | 12.2 | 16.6 | 1.6 | 8.7 | 15.0 | 25.9 | |
| -Non-food inflation (core inflation) | 0.6 | 1.1 | -0.5 | 1.3 | 4.6 | 1.4 | 14.0 | 12.7 | 19.2 | 16.0 | 23.5 | 21.1 | 11.8 | 1.4 | 3.8 | 3.2 | 22.6 | 14.0 | 13.9 | ||
| 3.4: External Trade (in Mn.USD) | |||||||||||||||||||||
| Export of goods & services | 984.0 | 979.1 | 982.7 | 1150.6 | 1520.6 | 1895.8 | 2149.8 | 2489.1 | 3127.9 | 3399.5 | 4050.33 | 5431.32 | 5993.41 | 5978.47 | 6451.62 | 6077.3 | 6257.2 | 7096.9 | 7694.9 | 7715.7 | |
| Import of goods & services | 1959.8 | 1936.4 | 2408.7 | 3259.8 | 4439.6 | 5662.7 | 6254.2 | 8326.9 | 9292.3 | 9858.40 | 10160.72 | 13805.17 | 13864.19 | 16397.24 | 19842.8 | 20552.1 | 19714.0 | 19707.4 | 20891.0 | 18822.8 | |
| Net trade in goods & services | -475.8 | -957.3 | -1058.1 | -1739.3 | -2543.8 | -3453.2 | -3756.1 | -5892.8 | -5892.8 | -5892.8 | -4817.8 | -7811.8 | -7885.7 | -9745.6 | -13391.3 | -14474.7 | -13456.9 | -12611.4 | -12899.1 | -11107.1 | |
| Current account balance including official transfers | (334.8) | (242.4) | (151.0) | (401.5) | (771.3) | (1470.9) | (1492.4) | (1634.7) | (1193.2) | (2019.0) | (2778.0) | (2778.0) | (4168.1) | (7406.8) | (6655.1) | (6534.2) | (4834.1) | (4396.4) | |||
| Capital account balance | 151.7 | 258.6 | 509.0 | 368.6 | 491.9 | 614.3 | 760.4 | 1031.5 | 1648 | 2421.02 | 2295.93 | 3281.23 | 4134.57 | 7816.92 | 6578.6 | 6889.4 | 6156.8 | 4839.9 | 4147.3 | ||
| Overall balance of payments | (393.7) | (70.5) | 300.2 | 1381.9 | 389.546387 | 66.4094367 | 37 | 29.98 | -251.693941 | 1648 | 316.68 | 1384.20 | (972.79) | (96.9) | -521.4 | -830.9 | 658.6 | -201.6 | -941.6 | -1227.3 | |
| 3.5: Government Finance (In Mn.Birr) | |||||||||||||||||||||
| Total revenue (excluding grants) | 11222.0 | 12085.0 | 12833.0 | 15703.0 | 20147.0 | 23225.0 | 29381.0 | 39705.0 | 40421.9 | 66237.44 | 85111.00 | 137192.00 | 158076.52 | 199838.11 | 243671.56 | 269105.94 |
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