Is Ethiopia the poorest country in the world? How poor is it?

Ethiopia is not the poorest country in the world, but one of the least developed countries, so poor that its economy almost collapsed.

Ethiopia is one of least developed countries in the world. Mainly based on agriculture and animal husbandry, the industrial base is weak. During mengistu's administration, the economy nearly collapsed due to constant civil strife, improper policies and frequent natural disasters.

After EGFP came to power, it implemented the development strategy of taking economic construction as the center and agriculture and infrastructure construction as the guide, and made a transition to a market economy, with rapid economic recovery, with an average annual economic growth of 7% from 1992- 1997.

198 After the border conflict between Egypt and Eritrea broke out, the economic development was frustrated. 200 1 Taking the progress in the peace process between Ethiopia and Eritrea as an opportunity, the Ethiopian government turned its focus to economic construction.

In 2002, the government implemented the plan of sustainable development and poverty reduction, and successively adopted measures such as revising investment and immigration policies, reducing export taxes and bank interest rates, strengthening capacity building and popularizing vocational and technical training, which were affirmed by international financial institutions.

However, due to the severe drought in 2002, the economic growth rate slowed down and resumed in the following year. Since 2005, the government has implemented the industrialization development strategy led by agriculture.

Increase investment in agriculture, vigorously develop emerging industries, export-oriented industries, tourism and aviation industries, attract foreign investment to participate in Ethiopia's energy and mineral resources development, and maintain a high-speed economic growth of over 8%.

The United Nations regards Ethiopia as a model for achieving the Millennium Development Goals. In 20 10, after winning the multi-party parliamentary election, ECF set out to formulate and implement the first five-year economic growth and transformation plan, vigorously strengthen the construction of infrastructure such as hydropower stations and railways, and accelerate the development of manufacturing industry.

Extended data:

Ethiopia's industrial categories are incomplete, its structure is unreasonable, and its spare parts and raw materials depend on imports. The manufacturing industry is mainly engaged in food, beverage, textile and leather processing, and is concentrated in two or three cities such as the capital. Leather is the second largest export product, with an annual export income of about US$ 5,654,380,000.

In recent years, Ethiopia has accelerated the process of industrialization and actively built industrial parks. According to the plan, it is planned to build industrial parks in Addis Ababa, the capital, and four major cities, namely Awasa, Direda Wa, Marquette and Compocha. The construction of Addis Ababa industrial park has begun to take shape, Awasa industrial park has been completed and opened, and the construction of the other two industrial parks is still under planning.

Baidu Encyclopedia-Ethiopia