Ethiopia is situated in the Horn of Africa between 3 and 15 degrees north latitude and 33 and 48 degrees east longitude. Projections from the 2007 population and housing census estimate the total population for the year 2012 to be 90 million with population growth rate of 3%/year. Ethiopia is the 2nd largest populated country in Africa
Economy – overview:
Ethiopia has shown in the past 10 years economic growth rate of (the government claims double digit economic growth rate, i.e. 10-11%) making the country one of the fastest-growing economy in the world. Ethiopia’s economy is based on agriculture, which accounts for 41% of GDP and 85% of total employment. Coffee has been a major export crop. While GDP growth has remained high, but per capita income is still low. The five-year Growth and Transformation Plan that Ethiopia unveiled in October 2010 presents a government-led effort to achieve the country’s ambitious development goals. The banking, insurance, and micro-credit industries are restricted to domestic investors, but Ethiopia has attracted significant foreign investment and manufacturing. Under Ethiopia’s constitution, the state owns all land and provides long-term leases to the tenants.