Ethiopia

The Federal Democratic Republic of Ethiopia (Amharic ኢትዮጵያ Ityopp'ya) is a country situated in the Horn of Africa. It has one of the most extensive known histories as an independent nation on the continent, or indeed in the world. Unique among African countries, Ethiopia maintained independence during the Scramble for Africa, and continued to do so except for a 5 year period when it was under Italian occupation. Ethiopia was historically called Abyssinia. The name "Ethiopia" is sometimes thought by Westerners to derive from a Greek term meaning "burnt visage", but this etymology is problematic. Ethiopian sources state that the name is derived from a son or grandson of Cush, son of Ham.

Economy

Main article: Economy of Ethiopia

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Ethiopia remains one of Africa's poorest states: many Ethiopians rely on food aid from abroad.

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After the 1974 revolution, the economy of Ethiopia was run as a socialist economy: strong state controls were implemented, and a large part of the economy was transferred to the public sector, including most modern industry and large-scale commercial agriculture, all agricultural land and urban rental property, and all financial institutions. Since mid-1991, the economy has evolved toward a decentralized, market-oriented economy, emphasizing individual initiative, designed to reverse a decade of economic decline. In 1993, gradual privatization of business, industry, banking, agriculture, trade, and commerce was underway.

Related Topics:
1974 - Socialist economy - 1991 - Market-oriented economy - 1993

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Agriculture accounts for approximately 40 percent of the gross domestic product (GDP), 80 percent of exports, and 80 percent of the labor force. Many other economic activities depend on agriculture, including marketing, processing, and export of agricultural products. Production is overwhelmingly of a subsistence nature, and a large part of commodity exports are provided by the small agricultural cash-crop sector. Principal crops include coffee, pulses (e.g., beans), oilseeds, cereals, potatoes, sugarcane, and vegetables. Exports are almost entirely agricultural commodities, coffee is the largest foreign exchange earner. Ethiopia's livestock population is believed to be the largest in Africa, and as of 1987 accounted for about 15 percent of the GDP.

Related Topics:
Gross domestic product - Coffee - Pulse - Oilseeds - Cereal - Sugarcane - Livestock - 1987

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