Ethiopia: Macroeconomic and Social Indicators

2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23

Indicators (2008) (2009) (2010) (2011) (2012) (2013) (2014) (2015)
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
Arable Land (% of total area) NA 12.00 13 14.2 14.32 14.41 16.2 16.2
Agricultural Irrigated Land (% of totalAgricultural area) NA NA 4.0 4.0 4.7 5 6% 6.20%
Population Density (person per sq.km)* 101.00 104.00 106 109 112 115 123 127
2. Social Indicators
Population total, in millions (Mid-Year population) 91.2 93.4 95.5 97.6 99.75 101.9 104.1 105.7
(o/w Urban Poulation, in %) 19.9 20.3 21 22.8 22.8 22.8 22.8 28.2
Working Age Population (In Millions)
Urban 12.2 12.8 12 13.13 14.03 15.01 16.04 31.1
Rural 39.7 40.8 42 43.06 44.28 45.8 46.6 40.4
Total 52.0 53.6 56 56.19 58.31 60.81 62.64 61.7
Age Dependency Ratio 75.0 75 69 69 69 69 69 62
Life Expectancy at Birth (Male - Female) 60.2-64.2 60.2-64.2 62.4-66.6 62.4-66.6 62.4-66.7 65.5 65.5 65.5
Crude Birth Rate 30.3:1000 30.3:1000 27:1000 27:1000 27:1001 27:1002 27:1003 27:1000
Crude Death Rate 7.2:1000 7.2:1000 6 6 6 6:03 6.00 6.30
Natural Rate of Population Increase (In %) 2.31 2.31 2 2 2 2 2 2:07
Total Fertility Rate 3.94chil:W 3.94chil:W 3.5chil:W 3.5chil:W 3.5chil:W 4.6chil:W 4.6chil:W 4.1
People : Hospital Beds 2850:1 2980:1 3617:1 1,312 2750 2720 2900 3225: 1 bed
People : Physician1 14045:1 22766:1 26635:1 10,521:1 9977:1 8448:1 7576 5737
People : Nurse 1 1999:1 1194:1 1780:1 1620:1 1705 1473 1415 983
Infant Mortality Rate 62.4:1000 62.4:1000 53.3:1000 53.3:1000 43.3:1000 47:1001 47:1000 34:1000
Access to Safe Water (In %)
Country Level 61.0 66.0 71 76 79.3 58.5 58.76 67.1
Urban Population 52.5 55.0 60 66 66.5 62.95 71.97 75.7
Rural Population 63.1 68.0 74 79 82.7 57.26 59.76 64.5
Student-Teacher Ratio
Primary (1-8) 46:1 43.00 43 39 39 34.8 34.6 36.4
Secondary (9-12) 26.5:1 43.00 43 22.5 24 27.4 27.7 26.6
Technical & Vocational 12.6፡1 11.00 26 13.3 13.3 1:11 1:11 1:18
Student-School Ratio NA
Primary (1-8) 573፡1 580.00 567 628 528 512.7 526.6 517.6
Secondary (9-12) 767.2፡1 754.00 741 568 940 1017 1063 1009.6
Technical & Vocational 523፡1 329.00 318 246.8:1 246.6:1 177 158 151.5
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Indicators (2008) (2009) (2010) (2011) (2012) (2013) (2014) (2015)
3. Macroeconomic Indicators
3.1. Real sector Development2
GDP at Current Market Price (In Mn. Birr) 1,568,097.45 1,832,553.7 2,202,373 2,696,223.0 3,374,747 4341387.1 6,157,538 8,722,308
Nominal GDP Growth Rate (In %) 17.7 16.9 20.2 22.4 25.5 28.6 41.8 42.4
Average Marginal Exchange Rate (Birr per USD) 21.1 22.4 26.1 28.1 31.3 39.0 48.57 53.283
GDP at Current Market Price (In Mn. USD) 74,296.6 81,760.4 84,355.6 95,951.0 107,673 111271.2 126,783 163,698
Nominal GDP per Capita (In USD) 814.6 875.8 883.3 983.1 1,080 1091.8 1,218 1,549
Real GDP per Capita ( In Birr ) 8,864.0 18,257.5 19,205 20,360.2 21,144.7 21,863.35 22,542.21 22,798,071.26
Real GDP per Capita Growth Rate (In %) 3.4 8.0 5 6 4 3.4 3.1 101035.0
GDP Deflator (% change) 9.5 6.7 12.5 13.2 18.2 21.8 34.7 32.9
Real GDP at constant basic price (In Mn. Birr) 1,449,397.5 1,596,481.6 1,719,491 1,874,689.3 1,989,587.7 2,114,238.3 2,248,571.6 2,439,478,100.7
Real GDP at constant market price (In Mn. Birr) 1,568,097.5 1,717,127.2 1,834,066 1,987,157.5 2,109,180.1 2,228,170.1 2,346,644.1 2,409,921,417.8
Real GDP Growth Rate (In %) 8.0 10.1 7.7 9.0 6.1 6.3 6.1 7.2
Agriculture & Allied Activties(In Billion Birr) 544.1 580.4 600.9 623.8 650.3 686.4 728.4 774.0
Industrial Sector (In Billion Birr) 343.9 413.8 464 526.2 576.9 618.8 649.2 694.2
Service Sector(In Billion Birr) 575.9 619.3 674 745.7 786.8 836.2 899.8 971.3
Agriculture & Allied Activties (% of GDP) 37.5 36.4 34.9 33.3 32.7 32.5 32.4 32.1
Industrial Sector (% of GDP) 23.7 25.9 27.0 28.1 29.0 29.3 28.9 28.8
Service Sector (% of GDP) 39.7 38.8 39.2 39.8 39.5 39.6 40 40.3
Private Consumption Expenditure 1,042,264.6 1,219,365.9 1,441,581.1 1,848,070.0 2,360,896 3,134,994 4,764,429 6882737.9
Government Consumption Expenditure 174,598.8 203,607.9 225,523.2 247,362.0 307,769 383,565 453,263 551106.6
Investment 585,665.0 704,596.0 751,626.2 948,866.0 1,037,685 1,216,585 1,560,325 1,933,863
Exports 122,500.8 139,830.1 184,282.1 213,437.0 239,229 329,634 507,692 575,062
Imports 424,749.9 430,233.2 502,112.9 561,512.0 571,230 723,391 1,128,171 1,220,461
Resource Balance (302,249.0) (290,403.0) (317,831.0) (348,075.0) -329,096 -394,236 -620,479 -645,400
Gross Private Consumption (% of GDP) 66.5 66.5 65.5 68.5 69.96 72 77.4 78.9
Gross Government Cosumption (% of GDP) 11.1 11.1 10.2 9.2 9.1 8.84 7.4 6.3
Gross Domestic Fixed Investment (% of GDP) 37.3 38.4 34.1 35.2 30.7 28.02 25.3 22.2
Resource Balance (% of GDP) (19.3) (15.8) (14.4) (12.9) (9.8) -9.08 -10.1 -7.4
3.2. Monetory Indictors
Narrow Money Supply (M1) (In Mn. Birr) 178,609.66 216,769.62 281,154.66 308,937.13 360,585.50 437,391.97 588,015.82 706,142.20
Broad Money Supply (M2) (In Mn. Birr) 445,266.25 573,384.05 740,572.88 886,752.53 1,037,646.33 1,348,266.15 1,715,310.03 2,170,848.37
Net Foreign Assets (In Mn. Birr) 21,524.19 38,034.79 39,376.20 14,506.19 (8,321.31) (812.32) (111,427.54) (160,097.68)
Reserve Requirement (CBs) 21,745.43 28,278.91 36,385.76 44,861.74 51,952.51 67,732.37 119,022.55 150,325.15
Interest Rate (In %)
Minimum Deposit Rate 5.00 5.00 7 7 7 7 7 7
Lending Rate 12.75 12.75 13.5 13.5 14.25 14.25 14.25 14.25
Total Net Domestic Credit (in mn. Birr) 490,230.35 631,092.73 784,621.73 963,699.91 1,176,926.45 1,481,844.43 1,930,621.80 2,444,435.50
Government 47,524.36 85,441.85 102,002.83 109,799.21 137,082.91 214,275.16 422,864.02 573,675.72
Other Sectors 442,705.99 545,650.89 682,618.90 853,900.70 1,039,843.53 1,267,569.27 1,507,757.78 1,870,759.78
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Indicators (2008) (2009) (2010) (2011) (2012) (2013) (2014) (2015)
3.3. Inflation (CPI growth rate)3
Country Level
-General inflation 9.7 7.4 14.60 12.60 19.90 20.20 33.80 32.60
-Food inflation 11.2 7.2 13.40 13.10 23.30 23.20 40.30 31.70
-Non-Food inflation (core inflation) 8.1 7.5 15.80 11.90 15.80 16.40 25.15 33.90
Addis Ababa
-General inflation 10.3 2.3 16.5 14.6 18.8 19.5 29.8 37.3
-Food inflation 16.6 1.2 8.7 15 25.9 26.2 36.6 35.5
-Non-Food inflation (core inflation) 5.8 3.2 22.6 14 13.9 14.4 24.1 39.0
3.4. External Trade(In Mn.USD)
Export of goods & services 6077.3 6257.2 7095.9 7694.9 7715.7 8498.9 10457.7 10855.8
Import of goods & services 20552.1 19714.0 19707.4 20704.8 18828.3 19177.0 23845.0 23394.5
Net trade in goods & services -14474.7 -13456.9 -12611.4 -13009.9 -11112.6 -10678.0 -13387.3 -12538.6
Current account balance including official transfers -6655.1 -6543.2 -5285.0 -4948.0 -4401.9 -3190.7 -5145.1 -4637.4
Capital account balance 6554.1 6885.3 6184.6 4822.4 4326.5 3785.8 2723.7 3504.9
Overall balance of payments -830.9 658.6 -201.6 -941.6 -833.4 298.7 -2149.8 -752.0
3.5. Government Finance (In Mn .Birr4)
Total Revenue (including grants) 243,671.6 269,105.9 287,562.1 344,936.5 394,965.8 478,888.1 566,753.6 717,586.7
Total Revenue (excluding grants) 230,657.3 256,629.0 269,648.2 311,317.4 354,312.8 444,582.6 540,060.5 685,459.1
o/w Tax-Revenue 189,717.2 210,135.9 235,229.5 268,457.4 311,476.5 388,763.5 477,770.3 593,232.1
Tax-Revenue as % of GDP 14.7 14.0 12.3 11.6 10.5 10.2 8.8 7.9
Total Expenditures 272,930.1 329,286.8 354,205.3 413,105.7 480,143.2 599,006.7 779,099.0 938,771.6
Current Expenditures 131,902.8 176,703.0 210,470.2 238,156.6 275,967.0 363,596.9 517,043.4 582,854.6
Capital Expenditures 141,027.3 152,583.8 143,735.1 174,949.1 204,176.1 235,409.7 262,055.7 355,917.0
Equity Contribution (Sinking Fund)
Special Programs - - - - - -
Total Expenditures as % of GDP 17.4 18.0 16.1 15.4 14.2 13.8 12.7 10.8
Current Surplus/Deficit 111,768.8 92,402.9 77,091.9 106,779.9 118,998.8 115,291.2 49,710.3 134,732.1
Overall Budget Deficit (including grants) (29,258.5) (60,180.9) (66,643.2) (68,169.2) (85,177.4) (120,118.5) (212,345.4) (221,184.9)
Deficit as % of GDP (1.9) (3.3) (3.0) (2.5) (2.5) (2.8) (3.4) (2.6)
Overall Budget Deficit (excluding grants) (42,272.8) (72,657.8) (84,557.1) (101,788.3) (125,830.4) (154,424.0) (239,038.5) (253,312.4)
Deficit as % of GDP (2.7) (4.0) (3.8) (3.8) (3.7) (3.6) (3.9) (2.9)
3.6. Exchange Rate (Birr/ USD)
Inter-Bank Forex Market Rate5
* Period weighted Average 21.1059 22.4137 26.1082 28.0543 31.3427 39.0163 48.5673 53.2830
* End period 21.8004 23.1081 27.2621 28.9109 34.9822 43.6910 51.9938 54.5943
Continued….
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Indicators (2008) (2009) (2010) (2011) (2012) (2013) (2014) (2015)
3.7. Treasury Bill Market (In Mn .Birr)
T-Bills Demanded (Total) 161,575.24 225,321.24 323,991.24 422,633.54 242,155.09 284,783.55 599,478.63 595,231.34
T-Bills Sold 161,475.24 225,321.24 323,991.24 422,633.54 242,155.09 238,799.55 582,268.63 576,081.34
Average Weighted Yield (in %) 1.438 1.424 1.420 1.741 4.808 7.970 9.459 9.70
T-Bills Outstanding by holder 57,252.56 73,271.56 111,213.56 138,054.36 23,724.00 116,559.95 317,169.59 341,869.53
Banks - - - 650.00 5,604.00 52,040.00 195,432.29 146,568.05
Non-Banks 57,252.56 73,271.56 111,213.56 137,404.36 18,120.00 64,519.95 121,737.30 195,301.48
3.8. Inter Bank Money Market Rate5
3.9. Financial Institutions
Number of Commercial Banks 17.00 17.00 17.00 17.00 17.00 18.00 30.00 31.00
(o/w Private banks) 16.00 16.00 16.00 16.00 16.00 17.00 28.00 29.00
Number of Bank Branches 3,301.00 4,257.00 4,757.00 5,564.00 6,511.00 7,344.00 8,944.00 11,281.00
Population : Bank Branch 27,932.00 22,164.00 20,286.50 17,732.20 15,702.00 13,921.00 11,516.00 9,514.00
Number of Insurance Companies 17.00 17.00 17.00 17.00 18.00 18.00 18.00 18.00
(o/w Private Insurance Companies) 16.00 16.00 16.00 16.00 17.00 17.00 17.00 17.00
Number of Insurance Branches 426 492.00 532.00 568.00 605.00 635.00 690.00 741.00
Population : Insurance Branch 216,443.00 191,772.00 181,396.00 173,848.00 168,983.00 160,629.92 149,272.50 144,846.00
Number of Development Banks 1.00 1.00 1 1 1 1 1 1
Number of Development Bank Branches 110 110.00 107 107 93 82 83 83
Number of Micro-financial Institutions 35.00 35.00 38 38 39 39 43 47
Source : Ministries of Agriculture, Finance and Economic Development, Health, and Education, National Bank of Ethiopia, Centeral Statistical Authority, … etc
Note:-
*population is estimated using component method after 2006/2007
1. Excluding manpower out side the Ministry of Health.
2. The GDP data series is revised on basis of 2015/16 =100 base year
3. Inflation data is calculated using the new base year (December 2016=100)
4. Figures for government finance are preliminary estimates from 1999/00 onwards.
5. Inter-bank money market was first introduced in Aug.1998 and Inter-bank forex market started as of September 1998, and the daily trasactions introduced beginning from october 24, 2001.
*Mid year population was obtained from MoFED
 National Bank of Ethiopia Quarterly Bulletin

I. OVERVIEW
1.1. International Economic Developments
According to European Central Bank 0.1 percent, after contracting by a
monthly bulletin of 6-7/2023, global downwardly revised 0.8 percent in the first
economic growth moderated during the quarter. This outcome reflects weakness in
second quarter of the FY 2023/24, as domestic demand which was relatively
monetary policy tightening transmitted to broad-based.
the world economy. Growth in global real
In China, recent activity indicators provide
GDP is estimated to have slowed to 0.8
mixed signals amid an on-going adjustment
percent in the second quarter, down from 1.0
in the residential property market. While
percent in the first quarter of the FY
industrial production growth increased
2023/24. The global composite output
slightly to 6.5 percent in annual terms in
Purchasing Managers’ Index (PMI) points to
December.
a decline in the rate of real GDP growth in
the reporting period. In December 2023 core inflation across
member countries of the Organisation for
In the United States, growth remains robust.
Economic Co-operation and Development
High frequency indicators, such as consumer
(OECD) continued to decline. Annual
confidence and retail sales showed strong
headline consumer price index (CPI)
performance in the second quarter of
inflation across OECD member countries
2023/24.
excluding Türkiye decreased to 3.4 percent
In the United Kingdom, economic activity in November, down from 3.6 percent in
declined again in the second quarter. Real October, owing to some easing in food price
GDP growth surprised to the downside in inflation. Core inflation (headline inflation
the second quarter, standing at -0.3 percent, excluding food and energy) also declined in
down from -0.1 percent in the first quarter November, falling 0.2 percentage points to
4.1 percent, but remains elevated.
In Japan, real GDP unexpectedly declined in
the second quarter of 2023/24. Economic
activity fell again in the second quarter, by

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 National Bank of Ethiopia Quarterly Bulletin

1.2. Macroeconomic Developments in Ethiopia

1.2.1. Inflation

Quarterly average headline inflation rate contributed 54.6 percent and 45.4 percent,
decreased to 5.4 percent in the second respectively, to the headline inflation registered

quarter of 2023/24 from 7.5 percent in the review quarter.

inflation rate recorded in the preceding Compared to the previous year’s same quarter
quarter on account of a 2.9 percentage point inflation of rate of 5.0 percent, inflation in the
decrease in food inflation. Food & non- review quarter has depicted a marginal
alcoholic beverages and non-food inflation increment of 0.4 percentage points.

1.2.2. Monetary Developments

Broad money supply (M2) stood at Birr 70.2 percent contraction in external asset
2.31 trillion at the end of the second quarter (net) and 34.9 percent in other items (net).
of 2023/24 reflecting a 18.7 percent annual Meanwhile, net claims on government and
growth mainly due to a 20.3 percent credit to non-government sector grew by
expansion in domestic credit, offsetting the 33.7 and 16.6 percent, respectively.

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 National Bank of Ethiopia Quarterly Bulletin

During the review period, reserve money money multiplier, measured by the ratio of
reached Birr 448.5 billion, indicating 6.7 broad money to reserve money, increased
percent annual and 1.2 percent quarterly to 5.2 from 4.6 a year earlier reflecting the
growth. Reserve money has registered a fact that more money is being created
lower growth compared to 26.5 percent relatively by commercial banks rather than
annual expansion a year ago due to NBE’s by NBE.
tight monetary policy stance. Regarding the

1.2.3. Interest rate

During the review period, average savings weighted average yield on T-bills for the
deposit rate remained unchanged at 8.0 quarter was 9.51 percent versus 9.59
percent and the simple average lending percent last year same quarter. Considering
interest rate increased to 14.75 percent the 28.7 percent headline inflation in
while weighted average time deposit rate December 2023, real interest rates on
stood at 7.6 percent compared to 7.76 deposit, lending and the T-bills yield
percent a year ago. On the other hand, remained negative.

1.2.4. Financial Sector Developments

a) Banks

By the end of the second quarter of percent were located in Addis Ababa.
2023/24, the number of banks in Ethiopia Meanwhile, total capital of the banking
reached 32, of which 30 were private and 2 system reached Birr 277.8 billion of which
state owned. These banks have opened 306 private banks accounted for 65.9 percent
new bank branches during the review and state owned banks (Commercial Bank
quarter, thereby increasing the total number of Ethiopia and Development Bank of
of bank branches to 11,870. As a result, the Ethiopia) 22.5 percent.
ratio of population to bank branch stood at
The banking sector disbursed Birr 116.2
9,0421. Of the total bank branches, 31.3
billion in new loans during the review
quarter, indicating 36.1 percent decline
1
Total population is 107,331,000 as CSA Estimation for
2023
from last year same period. Of the total

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 National Bank of Ethiopia Quarterly Bulletin

new loans disbursed, the share of state a 17.4 percent annual growth. Of the total
owned banks was 52.9 percent and that of loan collection, 71.9 percent was collected
private banks 47.1 percent. by private banks and 28.1 percent was by
state owned banks.
The major beneficiaries of the fresh loans
were Domestic Trade (Birr 24.7 billion or Total outstanding credit of the banking
21.2 percent), International Trade (Birr system (including corporate bond) went up
17.8 Billion or 15.4 percent), Agriculture by 14.9 percent to reach Birr 2 trillion
(Birr 16.8 billion or 14.4 percent), compared to last year same period. About
Manufacturing (Birr 16.1 billion or 13.9 99.5 percent of the total outstanding credit
percent), Building and Construction (Birr of private banks was claims on
12.3 billion or 10.6 percent), Consumer and cooperatives and private enterprises.
Staff Loans (Birr 11.6 Billion or 10
percent).

In the meantime, the banking system

collected Birr 91.2 billion in loans, showing

b) Insurance Sector

The number of insurance companies capital of insurance companies increased

remained at 18, of which 17 were private to Birr 18.9 billion from 14.4 billion last
and 1 state owned. Their branches year, of which private insurance
increased to 779 from 717 a year ago. Of companies accounted for 79 percent of the
the total branches, about 56.5 percent total capital.
were located in Addis Ababa. The total

c) Microfinance Institutions

During the review quarter, the number of credit of these institutions declined by 1.6
Micro Finance Institutions (MFIs) percent and reached Birr 34.8 billion.
remained at 46 mobilized about Birr 26.2 Similarly, their capital showed a 27.2
billion in saving deposit, showing 11 percent decline and reached Birr 9.6
percent annual growth. Total outstanding billion.

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 National Bank of Ethiopia Quarterly Bulletin

1.2.5. External Sector and Foreign Exchange Developments

a) External Sector Development

Total receipts from export of goods stood at (3.8 percent) and in public transfers (26.5
USD 770.7 million showing a 0.9 percent percent).
annual decline. This was attributed to lower
Likewise, total transfer payments decreased
revenues from coffee (7.0 percent), flower
from USD 75.6 million to USD 27.7 million
(15.7 percent), chat (13.9 percent), fruit & owing to 90.5 percent decline in public transfer
vegetables (58.1 percent), meat & meat payments despite an increase in private transfer
products (39.2 percent), textile & textile payments.
products (45.1 percent), leather & leather
The deficit in the current account balance
products (29.9 percent) and other exports
(including official transfers) widened from
(21.8 percent). Meanwhile, there were
USD 1.5 billion last year same period to
improvements in export receipts from
USD 2.0 billion this quarter due to
pulses (41.5 percent), gold (63.1 percent),
widening merchandise trade deficit, fall in
oilseeds (101.9 percent), live-animals
net services surplus and decline in both
(216.6 percent) and electricity (18.3
private transfers and public transfers (Table
percent).
5.1).
Total merchandise import bills amounted to
Capital account registered a surplus of USD
USD 4.9 billion during the review quarter,
1.5 billion, which was 28.8 percent higher
which was 8.0 percent higher than last year
than USD 1.2 billion surplus recorded a
same period due to higher import values of
year ago. The rise in surplus was mainly
capital goods, fuel, semi-finished goods,
attributed an increase in net surplus of
raw materials and miscellaneous goods
official long term capital, private sector
despite decline in import values of
long term capital and short term capital
consumer goods.
coupled with a shift in other public sector
During the review period, total transfer long-term capital from deficit (USD 44
receipts decreased by 8.4 percent and million) a year ago to surplus (67.5 million)
reached USD 1.9 billion on account of this year. On the other hand, net foreign
slowdown (3.8 percent) in private transfers direct investment decreased by 2.3 percent.

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 National Bank of Ethiopia Quarterly Bulletin

As a result, the overall balance of payments

recorded USD 389.5 million in deficits
compared to USD 328.1 million deficit a
year ago.

b) Exchange Rate Development

In the inter-bank forex market, weighted inflation despite the appreciation of Birr
average official exchange rate of Birr stood at against Ethiopia’s main trading partners’
Birr 55.6146/USD in the second quarter of currencies. On the other hand, the NEERI
2023/24, depicting a 5.0 percent annual
appreciated by 6.9 percent compared with
depreciation. The real effective exchange
last year same quarter due to weakening of
rate index (REERI) depreciated by 9.5
trading partner’s currencies against the US
percent, as a result of lower domestic
dollar.
1.2.6. Federal Government Fiscal Operations
During the second quarter of 2023/24, the increased by 8.4 percent and stood at Birr
total revenue and grants of the Federal 180.1 billion during the review quarter.
government was Birr 139.6 billion, which Hence, the overall fiscal balance (including
exhibited a 26.4 percent annual growth. grants) resulted in a Birr 40.4 billion deficit
Likewise, Federal government expenditure during the review period.

1.2.7. Investment

During the second quarter of 2023/24, 12 quarter, the number of investment projects
investment projects having investment and investment capital slowed down by 25
capital of Birr 846.7 million became and 70.6 percent respectively.
operational. Compared to last year same

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 National Bank of Ethiopia Quarterly Bulletin

II. ENERGY PRODUCTION AND PROCESSING

2.1. Import of Petroleum Products

During the second quarter of 2023/24, Of the total imports during the period, gas
about 1 billion metric tons of petroleum oil constituted 60.1 percent followed by jet
products were imported showing a 16.1 fuel (19.6 percent), regular gasoline (18.5
percent annual growth owing to higher percent) and fuel oil (1.8 percent) (Table
imports except fuel oil. Similarly, the 2.1).
amount of petroleum products imported
were 17.6 percent higher than the preceding
quarter.

Table 2.1: Volume of Petroleum Products Imported

(In Metric Ton)

2022/23 2023/24

Qtr. II Qtr. I Qtr. II Percentage Change

Share
Petroleum Share Share (In
Products A (In %) B (In %) C %) C/A C/B

Regular Gasoline
(MGR) 168,681.6 18.3 154,992.4 17.0 198,679.4 18.5 17.8 28.2

Jet Fuel 129,360.2 14.0 145,961.7 16.0 209,934.2 19.6 62.3 43.8

Fuel Oil 19,500.0 2.1 15,300.0 1.7 19,202.0 1.8 -1.5 25.5

Gas Oil (ADO) 606,671.5 65.6 596,179.7 65.3 645,535.7 60.1 6.4 8.3

Total 924,213.3 100 912,433.8 100 1,073,351.3 100 16.1 17.6

Source: Ethiopian Petroleum Enterprise

7 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Fig.2.1: Trends in the Volume of Petroleum Products Imported

800,000
700,000
600,000
500,000
400,000
300,000
200,000
100,000
-
I II III IV I II III IV I II III IV I II III IV I II

2019/20 2020/21 2021/22 2022/23 2023/24

MGR Jet Fuel Fuel Oil Gas Oil

Source: Ethiopian Petroleum Enterprise

Total petroleum import value at Birr 56 regular gasoline (26.2 percent), fuel oil (26
billion, was 17 percent higher than that of percent), and gas oil (2.5 percent) (Table
the same quarter of last year in response to 2.2).
an increase in volume of petroleum
imports. The annual rise in the value of
petroleum imports was on account of the
increase in values of jet fuel (77 percent),

8 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Table 2.2: Value of Petroleum Products Imported

(In ‘000’ Birr)
2022/23 2023/24
Percentage
Petrole Qtr. II Qtr. I Qtr. II Change
um
Produc Share Share Share
ts A (In %) B (In %) C (In %) C/A C/B
Regular
Gasolin
e
(MGR) 8,622,866.93 18.0 8,908,906.36 18.2 10,881,893.75 19.4 26.2 22.1

Jet Fuel 6,427,551.41 13.4 8,038,817.56 16.4 11,373,912.39 20.3 77.0 41.5

Fuel Oil 510,478.04 1.1 555,946.55 1.1 643,302.88 1.1 26.0 15.7

Gas Oil
(ADO) 32,294,755.23 67.5 31,533,265.57 64.3 33,102,724.00 59.1 2.5 5.0

Total 47,855,651.62 100.0 49,036,936.04 100.0 56,001,833.02 100.0 17.0 14.2

Source: Ethiopian Petroleum Enterprise

Fig.2.2: Trends in the Value of Petroleum Products Imported

45,000
40,000
in 'Million Birr

35,000 MGR
30,000 Jet Fuel
25,000 Fuel Oil
20,000 Gas Oil
15,000
10,000
5,000
0
I II III IV I II III IV I II III I II III IV I II

2019/20 2020/21 2021/22 2022/23 2023/24

Quarter

Source: Ethiopian Petroleum Enterprise

9 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Average FOB price of petroleum products same time, average FOB price of petroleum
went down by 6.9 percent over last year products decreased (7.4 percent) vis - a- vis
same quarter due to lower FOB prices of the previous quarter as a result of
gas oil (14 percent), jet fuel (5.9 percent) slowdown in FOB prices of all petroleum
and regular gasoline (3.8 percent) despite products (Table 2.3).
price rises in fuel oil (19.3 percent). At the

Table 2.3: FOB Price of Petroleum Products Imported

(In USD/ Metric Ton)

2022/23 2023/24
Qtr. II Qtr. I Qtr. II Percentage Change
Petroleum Products A B C C/A C/B
Regular Gasoline
(MGR) 819.9 902.8 788.6 -3.8 -12.6

Jet Fuel 885.6 854.9 833.1 -5.9 -2.5

Fuel Oil 360.6 493.7 430.2 19.3 -12.9

Gas Oil (ADO) 1,798.4 1,635.5 1,546.4 -14.0 -5.5

Average 966.1 971.7 899.6 -6.9 -7.4

Brent Crude Oil
(USD/Barrel) 88.6 86.7 83.7 -5.5 -3.4
Source: Ethiopian Petroleum Enterprise

Fig.2.3: Trends in the FOB Price of Imported Petroleum Products

2500

2000

1500
USD/MT

MGR
Jet Fuel
1000
Fuel Oil
Ga s Oil
500

0
I II III IV I II III IV I II III IV I II III IV I II

2019/20 2020/21 2021/22 2022/23 2023/24

Source: Ethiopian Petroleum Enterprise

10 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

During the second quarter of 2023/24, the

The average retail price of fuel in Addis
average price of Brent crude oil, which is
Ababa during the review period raise in to
used as a point of reference for
Birr 86.3 per litter from Birr 72.7 per litter
international oil price, decreased by 5.5
a year ago; depicting a 18.6 percent
percent and reached USD 83.7 per barrel.
increase as a result of increase in retail
Likewise, when compared with the
price of all petroleum product except jet
preceding quarter it moved down by 3.4
fuel (Table 2.4).
percent (Table 2.3).

Table 2.4: Addis Ababa Average Retail Prices of Fuel

(Birr/Liter)

2022/23 2023/24
Qtr. II Qtr. I Qtr. II Percentage Change

Petroleum Products A B C C/A C/B

Regular Gasoline (MGR) 59.9 74.0 77.7 29.7 4.9

123.5
Fuel Oil 100.7 120.5 22.6 2.5

79.8
Gas Oil (ADO) 64.8 75.7 23.0 5.3

79.8
Kerosene 64.8 75.7 23.0 5.3

Jet fuel 73.4 68.3 70.8 -3.5 3.7

Average
72.7 82.9 86.3 18.6 4.2
Source: Ministry of Trade

11 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Fig.2.4: Trends of Addis Ababa Average Retail Prices

140

120

100

80

60

40

20

0
I II III IV I II III IV I II III IV QI QII QIII IV I II

2019/20 2020/21 2021/22 2022/23 2023/24

MGR Fuel Oil Gas Oil Kerosene Jet Fuel

Source: Ministry of Trade

2.2. Electric Power Generation

About 4.9 billion KWH electric power was production from (1.3 percent) wind sources
generated during the second quarter of (Table 2.5).
2023/24. This was 14.6 percent higher than
last year same quarter mainly attributed to
14.8 percent increase in hydroelectric

Table 2.5: Electricity Generation by Sources

(In '000 of K.W.H)
2022/23 2023/24 Percentage
Qtr. II Qtr. I Qtr. II Change
Power Share Share Share
Source A (In %) B (In %) C (In %) C/A C/B

Hydropower 4,034,999 94.8 4,542,707 97.1 4,633,378 95.0 14.8 2.0

Thermal
Power - - - - - - - -

Geothermal - - - - - - - -

Wind 221,504 5.2 122,199 2.6 224,391 4.6 1.3 83.6

Biomass - - 13,913 0.3 19,168 0.4 - 37.8

Total 4,256,504 100 4,678,819 100 4,876,937 100 14.6 4.2
Source: Ethiopian Electric Power

12 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Of the total energy generated, 95 percent

was from hydropower and 4.6 percent from
wind source (Table 2.5). By system of
generation, virtually all the power was
generated through the interconnected
systems (ICS)2 (Table 2.6).

2
The generated power from different power stations
stored in substations before distribution

13 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Table 2.6: Generation of electricity power in the interconnected system (ICS) and self-
contained system (SCS)
2022/23 2023/24 Percentage
System of Qtr. II Qtr. I Qtr. II Share
Power supply A Share (in B Share (in C Share (In C/A C/B
%) %) %)
ICS
Hydro power 9 1 2
4,034,999.5 94.8 4,542,707.2 97.1 4,633,378 95.0 4.8 .0

Thermal - - - - - 0 - -
Power
Gethermal - - - - - 0 - -

Wind 4 1 8
221,504.5 5.2 122,199.4 2.6 224,391 4.6 .3 3.6

Biomass 0
- - 13,912.59 0.3 19,167.50 0.4 - -

Sub-Total 4,256,504.0 100.0 4,678,819.2 100.0 4,876,936.5 100.0 14.6 4.2

SCS
Hydro power - - - - - - -

Thermal - - - - - - - -
Power
Geothermal - - - - - - - -

Wind - - - - - - - -

Sub-Total - - - - - - - -

Grand Total 4,256,504.0 100.0 4,678,819.2 100.0 4,876,936.5 100.0 14.6 4.2

Source: Ethiopian Electric Power

14 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Fig.2.5: Volume of Electricity Production by Type

5000000

4000000

3000000

2000000

1000000

Hydropower Thermal Power Geo- thermal Wind Biomass

Source: Ethiopian Electric Power

15 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

III. QUARTERLY PRICE DEVELOPMENTS

3.1. Developments in Quarterly Inflation

In the second quarter of 2023/24, average meat (4.1 percentage point), vegetables (1.2
headline inflation rate dropped to 5.4 percent percentage point) and ‘sugar jam, honey &
from 7.5 percent in the preceding quarter chocolate’ (1.3 percentage point) (Table 3.2).
mainly due to 2.9 percentage point decrease
Similarly, quarterly non-food inflation rate
in food inflation. ‘Food & non-alcoholic
declined to 5.3 percent from 6.3 percent in
beverages’ played a major role (54.6 percent)
the preceding quarter (QI) and 8.5 percent a
in the quarterly headline inflation while non-
year earlier mainly due to slowdown in
food inflation contributed 45.4 percent.
quarterly inflation of a
Year-on-year basis, general inflation has Alcoholic beverages and tobacco’ (3.5
slightly increased (0.4 percentage point) percentage points), ‘housing,
compared to 5.0 percent (Table 3.1 & Fig. water, electricity, gas, and other fuel’ (0.6
3.1). percentage points), furnishing
& household equipment (3.0 percentage
Quarterly food inflation rate decreased to 5.5
points), health (9.4 percentage
percent compared to 8.4 percent in the
points), communication (17.4 percentage
preceding quarter owing to lower price of
points), ‘recreation & culture’ (8.7
‘oil and fat’ (14.5 percentage point), ‘bread
percentage points),
& cereals’ (2.4 percentage point), non-
and restaurants & hotels (1.3 percentage
alcoholic beverages (5.0 percentage point),
points) (Table 3.3).
‘milk, cheese & egg’ (2.2 percentage point),

16 | Second Quarter 2023/24

 Fig.3.1: Quarterly Movement in National Inflation
25.0
General Food
20.0
Non-Food Bread & Cereals

15.0
%

10.0

5.0

0.0
QI QII QIII QIV QI QII QIII QIV QI QII QIII QIV QI QII
2020/21 2021/22 2022/23 2023/24

Source: Ethiopian Statistical Service(ESS)

Table 3.1: Quarterly National Inflation Rate (December 2016=100)

2022/23 2023/24 Change in
QII QI QII %age points Contributions in (%) to
QII-2023/24 National
Inflation
Weights Inflation Inflation
in % Change Change
over QII- Over QI-
A B C C-A
C-B 2022/23 2023/24 Absolute Relative
Headline
100 5.0 7.5 5.4 0.4 -2.1 0.4 -2.1 5.4 100
Food &
Non
alcoholic
beverage 54 2.7 8.4 5.5 2.8 -2.9 1.5 -1.6 3.0 54.6
Non-
food 46 8.5 6.3 5.3 -3.2 -0.9 -1.45 -0.4 2.5 45.4
Source: ESS

17 | Second Quarter 2023/24

 Fig.3.1: Contribution of Food and Non-food Inflation to the General Inflation in
QII- 2023/24

Non-food=45.4%

Food = 54.6%

Source: NBE Computation

Table 3.2: Quarterly National Food & Non-alcoholic Beverages CPI Inflation
(December 2016=100)

2022/23 2023/24 Change in

QII QI QII %age points Contribution to
Food Food
Inflation Inflation
Change Change
over QII- over QI-
Items Weights A B C C-A C-B 2022/23 (%) 2023/24 (%)
Food and Non-alcoholic 2.7 8.4 5.5 2.8 -2.9 1.5 -1.6
Beverages 0.54
Bread and Cereals 0.17 3.3 11.1 8.7 5.4 -2.4 0.9 -0.4
Meat 0.04 4.3 7.2 3.1 -1.2 -4.1 -0.1 -0.2
Fish and Sea food 0.0002 9.0 -11.6 1.5 -7.5 13.1 0.0 0.0
Milk, cheese and egg 0.03 2.9 6.3 4.0 1.1 -2.2 0.0 -0.1
Oils & Fats 0.04 0.8 8.5 -6.0 -6.8 -14.5 -0.3 -0.6
Fruit 0.002 12.2 2.6 4.4 -7.7 1.9 0.0 0.0
Vegetables 0.12 0.9 9.5 8.3 7.4 -1.2 0.9 -0.1
Sugar jam, honey, chocolate 0.01 4.5 3.3 2.0 -2.5 -1.3 0.0 0.0
Food products 0.06 2.6 1.8 3.1 0.5 1.3 0.0 0.1
Non-alcoholic beverages 0.05 3.6 4.0 -1.0 -4.5 -5.0 -0.2 -0.3

18 | Second Quarter 2023/24

 Source: ESS and NBE Computation

Table 3.3: Quarterly National Non-food CPI Inflations

(December 2016=100)

2022/23 2023/24 Change in

QII QI QII %age points Contribution to
Non-food Non-Food
Inflation Inflation
Change Change
over QII- over QI
2022/23 2023/24
Item Weights A B C C-A C-B (%) (%)
Non-Food Inflation 0.46 8.5 6.3 5.3 -3.2 -0.9 -1.5 -0.4
Alcoholic Beverages
0.05 10.3 7.8 4.3 -6.0 -3.5 -0.3 -0.2
and Tobacco

Clothing and Footwear 0.06 7.2 0.8 3.5 -3.7 2.6 -0.2 0.1
Housing, Water,
Electricity, Gas and
Other Fuel 0.17 8.7 8.6 8.0 -0.7 -0.6 -0.1 -0.1
Furnishings, Household
Equipment and Routine
0.05
maintenance of houses 10.2 5.4 2.4 -7.8 -3.0 -0.4 -0.1
Health 0.01 4.6 12.6 3.2 -1.4 -9.4 0.0 -0.1
Transport 0.02 5.2 2.4 7.5 2.3 5.1 0.1 0.1
Communication 0.02 -4.6 21.0 3.6 8.2 -17.4 0.2 -0.3
Recreation and Culture 0.004 22.4 0.6 -8.1 -30.5 -8.7 -0.1 0.0
Education 0.002 7.3 -1.5 23.9 16.6 25.4 0.0 0.1
Restaurant & Hotel 0.05 7.2 6.0 4.7 -2.5 -1.3 -0.1 -0.1
Miscellaneous Goods 0.03 13.5 2.5 5.1 -8.5 2.6 -0.2 0.1
Source: ESS and NBE Computation

19 | Second Quarter 2023/24

3.2. Developments in Regional Quarterly Inflation

The regional average quarterly general percentage points margin. The variation in
inflation rate in the second quarter of 2023/24 food & non-alcoholic beverages inflation,
decreased to 4.5 percent from 8.1 percent in measured by standard deviation, declined to
the first quarter and 6.0 percent a year earlier. 2.7 percent from 6.3 percent in the preceding
quarter but it has increased from 1.8 percent
Amhara, Somali, Oromia, Afar and Addis
recorded a year ago (Table 3.4).
Ababa saw higher headline inflation than the
regional average. The highest headline Similarly, the regional average non-food
inflation (7.0 percent) was in Amhara and the inflation dropped to 3.3 percent from 6.2
lowest (0.6 percent) in Harari region. Hence, percent in the previous quarter and 8.9
the margin between the highest and the lowest percent last year same quarter.
headline inflation was 6.4 percentage points. Oromia, Gambela, SNNP, Amhara, Addis
The deviation in the regional headline Ababa and Afar had higher non-food inflation
inflation from the average, as signified by than the regional average. Non-food inflation
standard deviation, decreased to 1.9 percent was the highest in Oromia (7.5 percent) and
from 4.6 percent in the preceding quarter and the lowest in Harari (-4.1 percent), revealing
3.0 percent last year same quarter (Table 3.4). 11.6 percentage point margin. The variation
in regional non-food inflation, measured by
The regional average food & non-alcoholic
the standard deviation, slightly increase to 3.6
beverage inflation rate decreased to 5.7
percent from 3.5 percent in the preceding
percent in the second quarter of 2023/24
quarter (QI) while it went down from 5.4
from 9.7 percent recorded in the preceding
percent a year earlier.
quarter while it increased by 4.1 percent over
last year same quarter.

Food & non-alcoholic beverages inflation rate

in Somali, Amhara, Afar, and Addis Ababa
was higher than the regional average. The
highest food & non-alcoholic beverage
inflation was in Somali (11.5 percent) and the
lowest in SNNP (2.2 percent), signifying 9.3

20 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Table 3.4: Quarterly Regional General, Food & non-alcoholic beverages and Non-food Inflation (December 2016=100)
2022/23 2023/24
QII QI QII Annual Change Quarterly Change
A B C C-A C-B
Food Food Food
& Food & & &
Food & Non- Non- Non- Non-
Non- alcoho alcoholi alcoho alcoho

Non-food

Non-food

Non-food

Non-food

Non-food
alcoholic lic c lic lic
General

General

General

General

General
beverage bever beverag bever bever
Regions s ages es ages ages
SNNP 5.9 3.8 9.6 4.7 2.8 8.0 3.7 2.2 6.0 -2.3 -1.6 -3.6 -1.1 -0.6 -2.0
Harari 3.2 3.9 2.6 4.6 7.5 2.0 0.6 5.7 -4.1 -2.5 1.8 -6.7 -4.0 -1.8 -6.2
Oromia 4.5 2.4 8.1 7.1 8.2 5.3 5.6 4.6 7.5 1.2 2.2 -0.6 -1.5 -3.6 2.2
Gambella 3.5 2.8 4.8 6.1 8.8 1.3 4.5 3.1 7.1 1.0 0.4 2.3 -1.6 -5.6 5.7
Addis 4.7 3.4 5.9 6.6 7.7 5.6 5.1 6.0 4.2 0.4 2.6 -1.7 -1.5 -1.7 -1.4
Ababa
Dire Dawa 11.1 7.4 15.1 5.3 6.3 4.3 2.6 4.7 0.2 -8.5 -2.8 -14.9 -2.7 -1.6 -4.0
Benishangul 5.8 4.2 8.0 20.3 26.2 13.4 3.5 3.9 3.0 -2.3 -0.3 -4.9 -16.8 -22.3 -
Gumuz 10.4
Somali 11.9 5.8 21.1 7.6 7.2 8.1 6.7 11.5 0.3 -5.2 5.6 -20.7 -0.9 4.2 -7.8
Afar 5.7 5.7 5.8 9.0 11.3 5.9 5.4 6.8 3.5 -0.3 1.1 -2.3 -3.6 -4.5 -2.4
Amhara 4.1 1.6 7.7 9.7 11.1 7.8 7.0 8.3 5.2 2.9 6.7 -2.4 -2.7 -2.8 -2.6
Regions 6.0 4.1 8.9 8.1 9.7 6.2 4.5 5.7 3.3
Average
Standard 3.0 1.8 5.4 4.6 6.3 3.5 1.9 2.7 3.6
deviation
Coefficient 0.5 0.4 0.6 0.6 0.6 0.6 0.4 0.5 1.1
of variation
Source: ESS and NBE Computation

21 | Second Quarter 2023/24

 IV. MONETARY DEVELOPMENTS

4.1. Money Supply and Credit

Broad money supply (M2) stood at Birr 2.31 item (net), respectively. Meanwhile, net
trillion at the end of the second quarter of claims on government saw a 33.7 percent
2023/24 reflecting a 18.7 percent annual annual growth and credit 16.6 percent to
growth (Table 4.1) mainly due to a 20.3 non-government sector.
percent expansion in domestic credit,
offsetting 70.2 percent and 34.9 percent
contraction in external asset (net) and other

Table 4.1: Factors Influencing Broad Money (In Millions of Birr)

Contributions
of Each
Percentage
Qtr. II Qtr. I Qtr. II Component to
Change
Particulars Broad Money
growth
(Dec. 22) (Sep. 23) (Dec. 23)
C/A C/B Annual
A B C
1. External Assets (net) (140,023.4) (213,430.1) (238,309.7) -70.2 -11.7 -27.0
2. Domestic Credit 2,156,496.6 2,496,465.5 2,594,360.8 20.3 3.9 120.3
Claims on Central Gov't (net) 469,794.0 620,885.7 628,010.4 33.7 1.1 43.5
Claims on Non-Central Gov't 1,686,702.6 1,875,579.9 1,966,350.4 16.6 4.8 76.8
. Financial Institutions 44,822.7 44,822.7 42,322.7 -5.6 -5.6 -0.7
. Others 1,641,879.9 1,830,757.1 1,924,027.7 17.2 5.1 77.5
3. Other Items (net) 69,719.4 72,613.3 45,376.9 -34.9 -37.5 -6.7
4. Broad Money (M2) 1,946,753.8 2,210,422.1 2,310,674.2 18.7 4.5 100.0
Source: Staff Computation, NBE

22 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Fig.IV.1: Major Determinants of Monetary Expansion (Quarterly Growth in %)

80.0 1,000.0

Net Foreign Assets (NFA)

70.0
60.0 0.0

(in percent)
50.0
40.0 -1,000.0
Other than NFA

30.0
20.0 -2,000.0
10.0
0.0 -3,000.0
-10.0
-20.0 -4,000.0
-30.0
-40.0 -5,000.0
-50.0
-60.0 -6,000.0

Broad Money Domestic Credit Other Items Net Net Foreign Assets

Source: Staff Computation, NBE

Fig.IV.2: Composition of Domestic Credit (Quarterly Growth in %)

Credit to Central Government Credit to Non-Central Government Domestic Credit

40.0

30.0
Growth in Percent

20.0

10.0

0.0

-10.0

-20.0

-30.0

Source: Staff computation, NBE

23 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Component wise, quasi-money supply showed contribution of narrow money to broad money
a 20.1 percent annual and 3.3 percent growth was 28.2 percent and that of quasi
quarterly expansion while narrow money money 71.8 percent primarily reflecting the
exhibited 15.9 percent and 7.3 percent annual boost in savings deposits in the banking
and quarterly increment, respectively. The system.

Table 4.2: Components of Broad Money (In millions of Birr, unless specified)

Contributions
Percentage of Each
Qtr. II Qtr. I Qtr. II
Change Component
Particulars to M2 growth
(Dec. 22) (Sep. 23) (Dec. 23)
C/A C/B Annual
A B C

1. Narrow Money Supply 645,355.8 697,193.4 747,975.1 15.9 7.3 28.2

. Currency outside banks 201,142.9 201,568.9 212,704.2 5.7 5.5 3.2
. Demand Deposits (net) 444,212.9 495,624.5 535,270.9 20.5 8.0 25.0
2. Quasi-Money 1,301,398.0 1,513,228.7 1,562,699.1 20.1 3.3 71.8
. Savings Deposits 1,175,651.2 1,366,264.3 1,397,037.3 18.8 2.3 60.8
. Time Deposits 125,746.8 146,964.4 165,661.7 31.7 12.7 11.0
3. Broad Money Supply 1,946,753.8 2,210,422.1 2,310,674.2 18.7 4.5 100.0
Source: Staff Computation, NBE

Fig.IV.3: Composition of Monetary Stock (Value in Billions of Birr)

1,400.0
1,200.0
In Millions of Birr

1,000.0
800.0
600.0
400.0
200.0
0.0

Time Dep. Currency Outside Banks Demand Dep.(net) Saving Dep.

Source: Staff Computation, NBE

24 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

4.2. Developments in Reserve Money and Monetary Ratio

During the review period, the stock of reserve Regarding the money multiplier, measured by
money stood at Birr 448.5 billion, indicating a the ratio of broad money to reserve money,
6.7 percent annual and 1.2 percent quarterly rose to 5.2 from 4.6 a year ago indicating that
increase. Annual reserve money growth was a year ago more money is being created
lower compared to 26.5 percent last year same commercial banks create more money rather
period due to NBE’s tight monetary policy than the NBE.
stance (Table 4.3).

Table 4.3: Monetary Aggregates and Ratios (In millions of Birr unless otherwise indicated)

Qtr. II Qtr. I Qtr. II Percentage Change

Particulars (Dec. 22) (Sep. 23) (Dec. 23)
C/A C/B
A B C
1. Reserve Requirement (CB's) 135,121.7 153,078.2 159,864.0 18.3 4.4
2. Actual Reserve (CB's) 186,027.9 199,893.0 193,981.7 4.3 -3.0
3. Excess Reserve (CB's) 50,906.2 46,814.9 34,117.7 -33.0 27.1
4. Reserve Money 420,369.6 443,290.2 448,504.3 6.7 1.2
. Currency in Circulation 235,833.6 245,315.1 254,152.7 7.8 3.6
. Banks deposits at NBE 184,536.0 197,975.0 194,351.6 5.3 -1.8
5. Money Multiplier (Ratio):
. Narrow Money to Reserve Money 1.5 1.6 1.7 8.6 6.0
. Broad Money to Reserve Money 4.6 5.0 5.2 11.2 3.3
6. Other Monetary Ratios (%):
. Currency to Narrow Money 36.5 35.2 34.0 -7.0 -3.4
. Currency to Broad Money 12.1 11.1 11.0 -9.2 -0.9
. Narrow Money to Broad Money 33.2 31.5 32.4 -2.4 2.6
. Quasi Money to Broad Money 66.8 68.5 67.6 1.2 -1.2
Source: Staff Computation, NBE

25 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Fig.IV.4: Quarterly Growth of Reserve Money and Its Components

70
60
50
40
Percentage Changes

30
20
10
0
-10 QI QII QIII QIV QI QII QIII QIV QI QII QIII QIV QI QII QIII QIV QI QII QIII QIV QI QII QIII QIV QI QII

-20 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24

-30
Reserve Money Currency in Circulation Bank Deposits

Source: Staff Computation NBE

Fig.IV.5: Monetary Aggregates (Value in Millions of Birr)

250,000.00 Required reserve Actual reserve Excess reserve

200,000.00
In Millions of Birr

150,000.00

100,000.00

50,000.00

-50,000.00

Source: Staff Computation NBE

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 National Bank of Ethiopia Quarterly Bulletin

4.3. Interest Rate Developments average time deposit rate stood at 7.60
percent. On the other hand, weighted
In the second quarter, both minimum and
average yield on T-bills for the quarter was
maximum deposit interest rates were
9.51 percent.
unchanged at 7.0 percent and 9.0 percent.
Accordingly, average savings deposit rate Thus, considering the 28.7 percent headline
remained constant at 8.0 percent. However, inflation in December 2023, real interest
the simple average lending interest was rates on deposit, lending and the T-bills
increased to 14.75 percent while weighted yield remained negative (Table 4.4).

Table 4.4: Interest Rate Structure of Commercial Banks (Percent per annum)

Percentage point
Particulars 2022/23 2023/24 Changes
QII QI QII Annual Quarterly
1. Savings Deposit Rate 1/
Minimum 7.00 7.00 7.00 - -
Maximum 9.00 9.00 9.00 - -
Average Saving Rate 8.00 8.00 8.00 - -
2. Time Deposits
Up to 1yr 7.71 7.55 7.55 (2.08) -
1-2 years 7.76 7.60 7.60 (2.06) -
Over 2 years 7.80 7.64 7.65 (1.92) 0.13
Average Time Dep. Rate (Weighted) 7.76 7.60 7.60 (2.06) -
3. Demand Deposit (Weighted) 0.042 0.052 0.049 16.67 (5.77)
4. Lending Rate 2/
Minimum 7.00 7.00 7.00 - -
Maximum 21.50 22.50 22.50 3.51 -
Average Lending Rate 14.25 14.75 14.75 4.65 -
5. T-bills Rate (Weighted) 9.64 9.76 9.76 (1.24) -
6. GERD Bond Yield 3/
6.1 Maturity within 5 Years 7.50 7.50 7.50 - -
6.1 Maturity above 5 Years 8.00 8.00 8.00 - -
7. Headline Inflation (Year-on-year) 33.8 27.7 28.7 (15.1) 3.6
8. Food Inflation (Year-on-year) 32.9 26.1 30.6 (7.0) 17.2
9. Core/non-food Inflation (Year-on-year) 35.2 30.1 26.1 (25.9) (13.3)
1/ Minimum interest rate on saving deposit is set by NBE, whereas the maximum indicates the highest rate some
banks are paying voluntarily.
2/ NBE has no control on lending rates, hence the minimum & maximum rates presented here are mareket
determined.
3/ GERD stands for Grand Ethiopian Renaissance Dam.

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 National Bank of Ethiopia Quarterly Bulletin

Fig.IV.6: Interest Rate Structure of Commercial Banks (In percent per annum)

16.00
14.00
12.00
10.00
8.00
Value in Percent

6.00
4.00
2.00
0.00

Simple Av. Sav. Dep. Rate Simple Av. Lend. Rate Bond Yield T-bills Yield

Source: NBE and Commercial Banks

Fig.IV.7: Average Lending Rate, Average Saving Deposit Rate, 91-day T-bills Yield & Core Inflation Rate

Av. Saving Dep.Rate Lending Rate

91 day T-bills yield Inflation rate (core)
16.0 40.0

14.0 35.0

12.0 30.0

10.0 25.0

8.0 20.0

6.0 15.0

4.0 10.0

2.0 5.0

0.0 0.0

Source: Staff computation, NBE

28 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

4.4. Developments in the Financial Sector

The number of banks in Ethiopia reached 32, found in Addis Ababa. Total capital of
of which 30 were private and 2 state owned. insurance companies reached Birr 18.9 billion
These banks have opened 306 new bank from Birr 14.4 billion a year ago, of which,
branches during the second quarter 2023/24, private insurance companies accounted for 79
thereby increasing the total number of bank percent (Table 4.6).
branches to 11,870. As a result, population to
During the review quarter, the number of
bank branch ratio stood at 9,0423. State owned
Micro Finance Institutions (MFIs) reached 46.
banks accounted for 19.3 percent of the total
Their savings increased by 11 percent while
bank branches while private banks took a 80.7
their credit declined by 1.6 percent. Their total
percent share. Of the total bank branches, 31.3
asset also went down by 1.4 percent on annual
percent were located in Addis Ababa. About
basis. Their capital saw a 27.2 percent annual
91.2 percent of the new bank branches were
decrease to reach Birr 9.6 billion due to the
opened by private banks (Table 4.5).
transformation of Addis Credit & Savings
Meanwhile, the banking sector’s capital Institution to a bank. Micro-finance
continued to increase and reached Birr 277.8 institutions are known for providing access to
billion of which state owned banks accounted financial services to low income social groups
for 34.1 percent and private banks 65.9 and micro and small-scale enterprises both in
percent. The share of Commercial Bank of rural and urban areas (Table 4.7).
Ethiopia (CBE) in total capital of the banking
system was 22.5 percent (Table 4.5).

In the meantime, the number of insurance

companies stood at 18, of which 17 were
private and 1 state owned. While the number
of insurance companies remained unchanged,
their branch network increased to 779 from
717 a year ago. About 56.5 percent were

3
Total population is 107,331,000 as CSA Estimation for 2023

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 National Bank of Ethiopia Quarterly Bulletin

Table 4.5: Branch Network and Capital of the Banking System

Branch in Number and Capital in Millions of Birr)

Branch Network Capital

2022/23 2023/24 2022/23 2023/24
No Banks Quarter II Quarter I Quarter II
Quarter Quarter Quarter
% % % II I II
Reg A.A Total Share Reg. A.A Total Share Reg. A.A Total Share
1. State own Banks
1 Commercial Bank of Ethiopia 1,650 470 2,120 20.7 1,699 477 2,176 18.8 1,703 478 2,181 18.4 54,170 58,297 62,471
2 Development Bank of Ethiopia 77 6 83 0.8 77 6 83 0.7 99 6 105 0.9 30,116 32,149 32,149
Total State own Banks 1,727 476 2,203 21.6 1,776 483 2,259 19.5 1,802 484 2,286 19.3 84,286.4 90,445.8 94,619.4
2. Private Banks - - - -
3 Awash Bank 563 278 841 8.2 615 298 913 7.9 635 303 938 7.9 17,075.5 20,013.8 26,484.2
4 Dashen Bank 574 240 814 8.0 609 261 870 7.5 619 271 890 7.5 11,479.9 17,943.5 18,934.3
5 Bank of Abyssinia 585 290 875 8.6 656 304 960 8.3 664 309 973 8.2 12,373.8 14,343.2 15,872.7
6 Wegagen Bank 275 149 424 4.1 297 149 446 3.9 299 152 451 3.8 5,653.4 6,038.9 6,828.3
7 Hibret Bank 243 223 466 4.6 261 230 491 4.2 264 233 497 4.2 6,379.9 6,677.9 8,807.0
8 Nib International Bank 226 223 449 4.4 236 225 461 4.0 236 225 461 3.9 7,015.9 8,307.8 8,986.1
9 Cooperative Bank of Oromia 503 152 655 6.4 571 187 758 6.6 576 187 763 6.4 11,003.9 12,294.7 13,859.5
10 Lion International Bank 211 87 298 2.9 213 88 301 2.6 218 90 308 2.6 3,396.4 3,510.8 3,583.2
11 Oromia Bank 286 144 430 4.2 354 172 526 4.5 387 179 566 4.8 6,386.3 7,064.4 8,046.1
12 Zemen Bank 31 58 89 0.9 44 66 110 1.0 45 73 118 1.0 5,962.9 7,081.0 8,972.3
13 Buna Bank 295 169 464 4.5 314 171 485 4.2 314 172 486 4.1 5,015.8 5,373.7 5,533.3
14 Berhan Bank 203 164 367 3.6 224 181 405 3.5 224 182 406 3.4 4,237.1 4,335.5 4,690.4
15 Abay Bank 326 142 468 4.6 365 164 529 4.6 374 167 541 4.6 5,151.9 6,021.1 7,070.1
16 Addis Interational Bank 54 69 123 1.2 62 74 136 1.2 66 77 143 1.2 1,844.5 2,219.0 2,314.0
17 Global Bank 64 74 138 1.4 76 83 159 1.4 79 93 172 1.4 2,055.8 2,483.4 2,989.7
18 Enat Bank 75 53 128 1.3 110 65 175 1.5 120 71 191 1.6 2,743.5 3,044.4 3,352.0
19 Hijra Bank 39 15 54 0.5 56 20 76 0.7 58 22 80 0.7 1,125.6 1,308.5 1,352.3
20 Zamzam Bank 36 33 69 0.7 43 38 81 0.7 45 38 83 0.7 1,461.7 1,814.5 1,875.3
21 Goh Betoch Bank 4 3 7 0.1 4 4 8 0.1 4 4 8 0.1 1,060.4 1,376.4 1,605.5
22 Siinqee Bank 263 29 292 2.9 309 61 370 3.2 322 68 390 3.3 7,643.2 7,757.4 8,133.5
23 Tseday Bank 155 26 181 1.8 383 41 424 3.7 395 51 446 3.8 7,949.6 11,331.3 11,331.3
24 Shebele Bank - - 19 4 23 0.2 22 4 26 0.2 570.0 617.7 688.6
25 Amahara Bank 149 98 247 2.4 192 120 312 2.7 194 127 321 2.7 5,647.4 6,113.0 6,188.4
26 Ahadu Bank 13 23 36 0.4 37 48 85 0.7 46 56 102 0.9 596.3 768.2 958.9
27 Tsehay Bank 40 31 71 0.7 53 37 90 0.8 53 37 90 0.8 888.2 1,334.2 1,337.3
28 Sidama Bank S.C - - 23 1 24 0.2 25 3 28 0.2 680.9 887.4 874.7
29 Omo Bank S.C - - - - - - - - - 712.0 920.4 921.5
30 Gadaa Bank 21 11 32 0.3 49 22 71 0.6 50 29 79 0.7 674.5 1,009.1 999.6
31 Ramis Bank S.C - - - - 13 3 16 22 5 27 0.2 636.1 636.1
Total Private Banks 5,234.0 2,784.0 8,018.0 78.4 6,188.0 3,117.0 9,305.0 80.3 6,356 3,228 9,584 80.7 136,786.1 162,627.1 183,226.1
3. Grand Total Banks 6,961 3,260 10,221 100 7,964 3,600 11,564 100 8,158 3,712 11,870 100 221,072 253,072.9 277,845.4
Source: National Bank of Ethiopia (NBE) Note: ‘Reg’ Stands for Region and ‘A.A’ for Addis Ababa

30 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Fig.IV.8: Share of Branch Network and Capital of Banking System

100%
90%
Percentage share from total

80%
70% 61.9 64.3 65.9
60% 78.4 80.5 80.7
50%
40%
30%
20% 38.1 35.7 34.1
10% 21.6 19.5 19.3
0%
2022/23 Qrt.II 2023/24 Qrt.I 2023/24 Qrt.II 2022/23 Qrt.II 2023/24 Qrt.I 2023/24 Qrt.II
(Branch) (Branch) (Branch) (Capital ) (Capital ) (Capital )

Private Banks State own Banks

Source: NBE

Table 4.6: Branch Network & Capital of Insurance Companies

(Branch in Number & Capital in Millions of Birr)
Branch Capital
2022/23 2023/24 2022/23 2023/24
Insurance Companies Quarter Quarter Quarter
II I II Quarter Quarter Quarter
A.A Reg Total A.A Reg Total A.A Reg Total II I II
1 Ethiopian Insurance Corporation 25 66 91 25 66 91 25 66 91 3,554 3,935 3,964
2 Awash Insurance Company S.C. 32 26 58 32 29 61 32 31 63 2,161 2,802 3,026
3 Africa Insurance Company S.C. 19 14 33 20 15 35 20 15 35 406 448 504
4 National Insurance Company of Ethiopia S.C. 24 17 41 25 17 42 25 17 42 318 385 385
5 United Insurance Company S.C. 34 13 47 34 16 50 34 17 51 1,079 1,497 1,529
6 Global Insurance Company S.C. 13 8 21 13 9 22 13 9 22 299 271 -
7 Nile Insurance Company S.C. 34 24 58 36 24 60 37 24 61 855 1,306 1,410
8 Nyala Insurance S.C. 18 18 36 20 20 40 20 20 40 1,411 1,496 1,716
9 Nib Insurance Company S.C. 30 15 45 31 16 47 31 16 47 845 1,149 1,158
10 Lion Insurance Company S.C. 19 22 41 19 22 41 19 22 41 320 454 564
11 E-Life & General Insurance S.C. 21 8 29 22 8 30 22 8 30 239 331 353
12 Oromia Insurance Company S.C. 26 28 54 27 28 55 29 31 60 1,039 1,459 1,443
13 Abay Insurance S.C. 17 15 32 21 16 37 21 16 37 589 730 821
14 Berhan Insurance S.C. 19 8 27 19 9 28 19 9 28 304 405 483
15 Tsehay Insurance S.C. 23 10 33 24 11 35 24 12 36 405 541 578
16 Lucy Insurance S.C. 18 6 24 26 6 32 27 7 34 175 233 221
17 Bunna Insurance S.C. 18 12 30 21 13 34 22 13 35 249 362 404
18 Zemen Insurance S.C. 14 3 17 18 4 22 20 6 26 159 243 291
TOTAL 404 313 717 433 329 762 440 339 779 14,407 18,047 18,850
Source: NBE

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 National Bank of Ethiopia Quarterly Bulletin

Table 4.7: Microfinance Institutions Performance (In thousands of Birr)

2022/23 2023/24 % Change

Particulars
QII QI QII
A B C D=C/A E=C/B

Total Capital 13,242,802.0 10,984,748.7 9,644,042.9 -27.2 -12.2

Saving 23,569,676.7 24,216,996.2 26,161,394.6 11.0 8.0

Credit 35,375,453.6 32,880,779.6 34,823,349.8 -1.6 5.9

Total Assets 51,508,619.6 49,515,735.2 50,772,359.8 -1.4 2.5

Source: NBE

4.5. Activities of the Banking System

4.5.1. Resource Mobilization
Total resources mobilized by the banking to 47.9 percent slowdown in net deposit and
system (the sum of net change in deposit, 46.5 percent in borrowing, offsetting 13
loans collected and net change in percent increase in collection of loans (Table
borrowings) at the end of the second quarter 4.8).
of 2023/24, showed a 30.3 annual decline due
Table 4.8: Summary of Resource Mobilization & Disbursement of the Banking System
(In Millions of Birr)

State own Banks Private Banks Grand Total

Annual Quarter
1 2 (3) = (1) + (2)
Particulars Qtr.II Qtr.I Qtr.II
Qtr.I Qtr.II Qtr.I Qtr.II Change % change Change % change
2022/23 2023/24 2023/24
2022/23 2023/24 2022/23 2023/24
A B C D=C-A E=D/A*100 F=C-B G=F/B*100

1.Deposits (net change) 7,671.9 59,161.1 28,372.7 38,572.5 187,669.8 36,044.7 97,733.6 -89,936.2 -47.9 61,688.9 171.1
-Demand -27,858.5 42,119.1 6,165.0 5,230.0 55,978.7 -21,693.5 47,349.1 -8,629.5 -15.4 69,042.6 318.3
-Saving 30,548.5 15,023.3 20,266.4 16,821.9 119,506.5 50,814.9 31,845.3 -87,661.3 -73.4 -18,969.6 -37.3
-Time 4,981.9 2,018.7 1,941.3 16,520.5 12,184.6 6,923.3 18,539.2 6,354.6 52.2 11,615.9 167.8
2. Borrowing (net change) 1,158.4 5,877.1 0.0 0.0 10,988.3 1,158.4 5,877.1 -5,111.2 -46.5 4,718.7 407.3
-Local 1,302.4 4,527.6 0.0 0.0 7,592.6 1,302.4 4,527.6 -3,065.0 -40.4 3,225.2 247.6
-Foreign -144.0 1,349.5 0.0 0.0 3,395.7 -144.0 1,349.5 -2,046.2 -60.3 1,493.5 1,037.5
3. Collection of Loans 45,933.6 25,604.4 58,353.9 65,553.7 80,703.1 104,287.5 91,158.1 10,454.9 13.0 -13,129.4 -12.6
4. Total Resources
Mobilized (1+2+3) 54,764.0 90,642.6 86,726.6 104,126.1 279,361.2 141,490.6 194,768.8 -84,592.5 -30.3 53,278.2 37.7
5. Disbursement 43,676.2 61,504.6 58,805.5 54,707.5 181,773.3 102,481.7 116,212.1 -65,561.2 -36.1 13,730.5 13.4
6. Change in Liquidity (4-5) 11,087.9 29,138.0 27,921.1 49,418.7 97,587.9 39,008.9 78,556.7 -19,031.2 -19.5 39,547.7 101.4
Memorandum Item: 0.0 0.0
Outstanding Credit*
952,051.6 998,877.4 1,024,205.0 1,051,813.4
1,784,631.3 1,976,256.6 2,050,690.8 266,059.5
14.9 3.8 74,434.2
Source: Commercial Banks & DBE Notes: *Includes corporate bonds of Commercial Bank of Ethiopia

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 National Bank of Ethiopia Quarterly Bulletin

Fig.IV.9: Trends in Resource Mobilization and Disbursement of Loans

300,000.00

250,000.00
In Millions of Birr

200,000.00

150,000.00

100,000.00

50,000.00

-
III

III

III
I

I
II

II

II

II
IV

IV

IV
2020/21 2021/22 2022/23 2023/24

Total Resource Mobilization Net Deposit Collection of Loans Disbursement of Loans

Source: CBEs and NBE

4.5.1.1. Deposit Mobilization

The total deposit liabilities of the banking 16.7 percent to reach Birr 1.4 trillion and
system reached Birr 2.3 trillion, depicting accounted for 61.2 percent of the total
16.7 percent annual growth. deposits. Time deposits at 7.9 percent of the
total deposit liabilities increased by 31.2
Demand deposits, which accounted for 30.9
percent to Birr 182.1 billion. About half of
percent of the total deposits, reached Birr
the deposits were in state owned banks
711.2 billion showing a 13.6 percent annual
(Table 4.9).
growth. Similarly, saving deposit went up by

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 National Bank of Ethiopia Quarterly Bulletin

Table 4.9: Stock of Deposits Mobilized by the Banking System (In Millions of Birr)

Percentage
Quarter II % Quarter I % Quarter II
Deposit by types % Share Change ( Growth)
2022/23 Share 2023/24 Share 2023/24
A B C C/A C/B
Demand Deposit 626,269.7 31.8 663,801.6 30.2 711,150.8 30.9 13.6 7.1
Saving Deposit 1,204,765.9 61.2 1,374,197.8 62.4 1,406,043.1 61.2 16.7 2.3
Time Deposit 138,782.4 7.0 163,564.4 7.4 182,103.6 7.9 31.2 11.3
Total 1,969,818.1 100.0 2,201,563.8 100.0 2,299,297.4 100.0 16.7 4.4
Share of state own Banks 49.8 48.3 48.8
Share of Private Banks 50.2 51.7 51.2

Source: Commercial Banks and DBE

Fig.IV.10: Quarterly Growth of Banks’ Deposit Liabilities by Ownership

16.0
14.0
12.0
10.0
8.0
In percent

6.0
4.0
2.0
0.0
I II III IV I II III IV I II III IV I II
2020/2021 2021/2022 2022/2023 2023/2024

State owned Banks Private Banks All Banks

Source: CBEs & NBE

4.5.1.2. Collection of Loans

During the review quarter, banks collected collection, private banks had 71.9 percent
Birr 91.2 billion loans (including corporate share while that of state own banks was 28.1
bonds) which showed a 13 percent annual percent (Table 4.12).
growth (Table 4.8). Of the total loan

4.5.1.3. Borrowing
Of the total borrowing, Birr 88.3 billion (76.2
Total outstanding borrowing of the banking
percent) was from domestic and Birr 27.6
system stood at Birr 115.9 billion showing a
billion (23.8 percent) from external sources
17.4 percent annual growth.
(Table4.10)

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Table 4.10: Banks’ Outstanding Borrowing by Source (In Millions of Birr)

2022/23 2023/24
Borrowing By
Quarter II Quarter I Quarter II Percentage change
Types
A B C D=C/B E=C/A
Domestic Borrowing 74,787.8 83,812.0 88,339.6 5.4 18.1
Foreign Borrowing 23,958.5 26,208.4 27,557.9 5.1 15.0
Total 98,746.3 110,020.4 115,897.5 5.3 17.4
Source: Commercial Bank of Ethiopia and Development Bank of Ethiopia

4.5.2. Disbursement of Fresh Loans

During the review quarter, Birr 116.2 billion The major beneficiaries of the fresh loans were
was disbursed in fresh loans(including CBE’s domestic trade (Birr 24.7 billion or 21.2
bond purchase) indicating 36.1 percent annual percent), international trade (Birr 17.8 billion
decrease due to the 14 percent annual growth or 15.4 percent), agriculture (Birr 16.8 billion
cap set by the National Bank of Ethiopia. Of or 14.4 percent), manufacturing (Birr 16.1
the total new loans, the share of state owned billion or 13.9 percent), building and
banks was 52.9 percent and that of private construction (Birr 12.3 billion or 10.6 percent),
banks 47.1 percent (Table 4.8, 4.11 & 4.12). consumer and staff loans (Birr 11.6 billion or
10 percent) (Table 4.11).

Fig.IV.11: Trends in Fresh Loan Disbursement by Ownership

200,000.00
180,000.00
160,000.00
Value in M illion Birr

140,000.00
120,000.00
100,000.00
80,000.00
60,000.00
40,000.00
20,000.00
-
QIII
QIII

QIV

QIII

QIV

QIII
QI

QI

QI

QII
QII

QI

QII

QII

QIV

2020/21 2021/22 2022/23 2023/24

Years/Quarters

Total State owned Banks Private Banks

Source: Commercial Banks and Development Bank of Ethiopia

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 National Bank of Ethiopia Quarterly Bulletin

Table 4.11: Banks’ Loans & Advances by Sectors (Including corporate bond) in QII-2023/24
(In Millions of Birr)

Public Banks Private Banks Total

(1) (2) (3)
Borrowing Sector D* C* O/S* D* C* O/S * D* C* O/S*
Corporate Bonds* 12,000.0 4,365.5 559,049.8 - - - 12,000.0 4,365.5 559,049.8
Agriculture 13,291.9 3,362.4 53,534.2 3,470.4 4,020.0 55,455.6 16,762.3 7,382.4 108,989.8
Manufacturing 12,404.6 5,783.1 220,487.8 3,741.9 7,290.1 153,904.2 16,146.5 13,073.2 374,392.0
Domestic Trade 12,634.8 4,496.7 33,319.4 12,028.2 15,848.0 205,487.8 24,663.0 20,344.7 238,807.2
International Trade 3,001.5 1,189.5 14,175.8 14,845.2 17,315.3 303,725.2 17,846.7 18,504.8 317,901.0
Export 1,587.1 1,100.7 8,939.8 11,261.5 11,048.2 197,911.8 12,848.7 12,148.9 206,851.6
Import 1,414.4 88.7 5,235.9 3,583.7 6,267.1 105,813.4 4,998.0 6,355.9 111,049.3
Hotels and Tourism 773.2 263.3 5,460.9 1,327.1 1,683.0 36,057.6 2,100.3 1,946.3 41,518.5
Building and Construction 6,118.0 5,201.8 66,369.7 6,154.0 7,926.0 127,497.1 12,272.1 13,127.8 193,866.8
Mines, Power and Water resources 7,225.2 469.8 246,254.9 30.7 56.4 532.9 7,255.9 526.2 246,787.7
Financial Institutions 1,832.3 540.1 13,339.5 61.7 229.3 3,368.8 1,894.0 769.5 16,708.3
Transport and Communication 303.9 49.3 1,522.9 2,032.1 2,363.9 33,385.5 2,336.0 2,413.2 34,908.4
Health and Education 118.7 99.7 1,159.9 361.7 309.9 4,837.5 480.4 409.6 5,997.4
Consumer and Staff Loans 3,710.5 4,117.7 62,699.0 7,872.0 5,226.6 106,451.5 11,582.5 9,344.3 169,150.5
Other Sectors 90.0 30.9 280,553.4 2,782.5 3,285.2 21,109.8 2,872.5 3,316.1 301,663.2
Of which LAMC* - - 277,192.5 - - - - - 277,192.5
Total 61,504.6 25,604.4 998,877.4 54,707.5 65,553.7 1,051,813.4 116,212.1 91,158.1 2,050,690.8
D*= Disbursement, C*= Collection, O/S*= Outstanding Credit LAMC*= Liability and Asset Management Corporation

Source: Commercial Banks & DBE

4.5.3. Outstanding Credit

Total outstanding credit of the banking (Birr 317.9 billion or 15.5 percent), other
system (including corporate bond) went up sectors (Birr 301.6 billion or 14.7 percent).
by 14.9 percent to reach Birr 2 trillion Of this sum, Liability and Asset Management
compared to last year same period. About Corporation (LAMC*) holds (Birr 277.2
99.5 percent of the total outstanding credit of billion or 13.5 percent), mines, power and
private banks was claims on cooperatives and water resources (Birr 246.8 billion or 12
private enterprises (Table 4.8 & 4.12). percent), domestic trade (Birr 238.8 billion or
11.6 percent), building & construction (Birr
Sector wise, the major holders of outstanding
193.9 billion or 9.5 percent), and consumer &
credit were ‘manufacturing’ (Birr 374.4
staff loans (Birr 169.2 billion or 8.2 percent)
billion or 18.3 percent), international trade
(Table 4.11).

36 | Second Quarter 2023/24

Table 4.12: Breakdown of Banking System Credit by Clients in QII-2023/24
(In Millions of Birr)

Particulars Loan Loan Outstanding

Disbursement % Share Collection % Share Loan % Share
State Owned Bank 61,504.6 52.9 25,604.4 28.1 998,877.4 48.7
Corporate Bonds* 12,000.0 0.0 4,365.5 0.0 559,049.8 56.0
State Enterprises 27,632.9 44.9 7,664.1 29.9 749,694.1 75.1
Cooperatives 240.9 0.4 106.1 0.4 9,510.4 1.0
Private Enterprises 33,630.8 54.7 17,834.3 69.7 239,673.0 24.0
Private Banks 54,707.5 47.1 65,553.7 71.9 1,051,813.4 51.3
State Enterprises 75.0 0.1 381.5 0.6 5,036.5 0.5
Cooperatives 685.6 1.3 1,101.2 1.7 9,635.4 0.9
Private Enterprises 53,946.9 98.6 64,070.9 97.7 1,037,141.6 98.6
Grand Total 116,212.1 100.0 91,158.1 100.0 2,050,690.8 100.0
Source: Commercial Banks &DBE

Fig.IV.12: Share of Public and Private Banks in Credit Outstanding

70

60

50

40
In P ercent

30

20

10

0
QI

QI

QI

QI
QIII

QIII

QIII
QII

QII

QII

QII
QIV

QIV
QIV

2020/21 2021/22 2022/23 2023/24

Years/Quarters

State own Bank Credit Outstanding Private Bank Credit Outstanding

Source: NBE

37 | Second Quarter 2023/24

 4.6. Financial Activities of NBE

NBE’s gross claim on the central NBE’s deposit liabilities increased by 5.2
government as of end December 2023 percent year-on-year due to 5.4 percent
stood at Birr 600.1 billion, about 26.6 growth in commercial banks’ reserve
percent higher than a year earlier. (Table 4.13).

Table 4.13: Financial Activities of NBE (In Millions of Birr)

2022/23 2023/24
Particulars Qtr.II Qtr.I Qtr.II % Change
A B C D=C/A E=C/B
1.Loans and Advances 518,814.26 624,943.16 642,443.16 23.8 2.8
1.1. To Central Government 473,991.55 580,120.45 600,120.45 26.6 3.4
1.2.To Development Bank of Ethiopia 44,822.71 44,822.71 42,322.71 -5.6 -5.6
2.Deposit Liabilities 225,725.00 257,179.68 237,555.37 5.2 -7.6
2.1. Government 40,798.80 59,099.09 42,609.04 4.4 -27.9
2.2. Financial Institutions 184,926.20 198,080.59 194,946.33 5.4 -1.6
O/W:
-Banks( Reserve) 184,912.61 198,068.91 194,933.48 5.4 -1.6
-Insurance companies 13.6 11.7 12.8 -5.5 10.0
3.Net Claims of NBE(1-2) 293,089.3 367,763.5 404,887.8 38.1 10.1
Source: National Bank of Ethiopia (NBE)

4.7. Developments in Financial Markets

4.7.1. Treasury Bills Market

During the second quarter of 2023/24, the purchased T-bills worth of Birr 70.7 billion.

amount of T-bills supplied to the auction Birr 182.6 billion was redeemed during the

reached Birr 336.9 billion, showing a 6.4 quarter under review.

percent annual decline while demand for T- The total outstanding T-bills at the end of the
bills increased by 6.8 percent (Birr 187.0 quarter reached Birr 371.2 billion, reflecting
billion) (Table 14.4). The total amount of T- a 20.1 percent annual increase. The average
bills sold during the review quarter was Birr weighted T-bills yield stood at 9.506 percent
182.0 billion, about 5.7 percent higher than a which was 0.9 percentage points lower than
year ago. Non-bank institutions bought T- that of a year earlier (Table 4.14).
bills worth Birr 111.4 billion while banks

38 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Table 4.14: Results of Treasury Bills Auction

(In Millions of Birr)

39 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

2022/23 2023/24
% Change
Quarter II Quarter I Quarter II
A B C C/A C/B
Number of Bidders 316 129.00 145.00 -54.11 12.40
Public 63 82.00 81.00 28.57 (1.22)
Private 253 47.00 64.00 0.00 36.17
Number of Bids received 316 129.00 145.00 -54.11 12.40
Public 63 82.00 81.00 28.57 -1.22
Private 253 47.00 64.00 -74.70 36.17
Amount Demanded (Mn. Birr) 175,225.00 168,805.21 187,043.95 6.75 10.80
28-day bill 26,350.00 25,775.00 17,530.00 -33.47 -31.99
91-day bill 39,273.95 47,006.89 61,006.89 55.34 29.78
182-day bill 32,077.00 58,771.57 45,267.00 41.12 (22.98)
364-day bill 77,524.05 37,251.75 63,240.06 - 69.76
Amount Supplied (Mn. Birr) 360,037.94 239,859.60 336,850.46 -6.44 40.44
28-day bill 32,710.00 22,715.00 28,687.92 -12.30 26.30
91-day bill 106,656.89 72,456.89 116,059.87 8.82 60.18
182-day bill 110,017.00 84,671.57 104,035.61 -5.44 22.87
364-day bill 110,654.05 60,016.14 88,067.06 - 46.74
Amount Sold (Mn. Birr) 172,225.00 159,410.21 182,043.95 5.70 14.20
Banks 110,205.11 55,100.00 70,709.26 (35.84) 28.33
Non-Banks 62,019.89 104,310.21 111,334.69 79.51 6.73
Redemption (Mn. Birr) 171,692.18 129,511.38 182,597.95 6.35 40.99

Average Weighted Price for Successful bids (% ) 96.02 95.84 95.94 (0.08) 0.11
28-day bill 99.30 99.29 99.31 0.01 0.02
91-day bill 97.40 97.47 97.59 0.20 0.13
182-day bill 95.33 95.46 95.36 0.03 -0.11
364-day bill 92.04 91.12 91.52 -0.56 0.44

Average Weighted Yield for Successful bids (% ) 9.592 9.760 9.506 -0.89 -2.60
28-day bill 9.164 9.327 9.079 -0.93 -2.66
91-day bill 10.700 10.407 9.893 -7.54 -4.94
182-day bill 9.825 9.534 9.758 -0.68 2.35
364-day bill 8.678 9.772 9.294 7.10 -4.89

Outstanding bills at the end of Period (Mn.Br.) 309,210.35 374,668.35 371,214.36 20.05 -0.92
Banks 152,468.05 159,068.05 131,909.26 (13.48) (17.07)
Non-Banks 156,742.30 215,600.30 239,305.10 52.67 10.99
Source: National Bank of Ethiopia (NBE)

Fig.IV.13: Development in Treasury- bills Markets (In Millions of Birr)

40 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

700,000.00
600,000.00
500,000.00
400,000.00
300,000.00 Supply
200,000.00 Demand
100,000.00
-
III IV I II III IV I II III IV I II III IV I II
2019/20 2020/21 2021/22 2022/23 2023/24

Source: NBE

Fig.IV.14: Developments in Average weighted Yields of T-bills

12.5

10
(In percent)

7.5 28-day
91-day
5 182-day
364-day
2.5

0
III IV I II III IV I II III IV I II III IV I II
2019/20 2020/21 2021/22 2022/23 2023/24

Source: NBE

4.7.2. Inter- Bank Money Market

There has been no inter-bank money market

41 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

transaction during the quarter under review.

4.7.3. Corporate Bond Market

The stock of corporate bonds held by CBE stood
Corporate bond market remained undeveloped
at Birr 559.0 billion, of which, 93.1 percent was
whereby major players being a few public
claims on public enterprises and the remaining
institutions and regional governments. The
balance on regional governments (Table 4.15).
purchaser of these bonds was solely the
EEP held 43.6 percent of the total outstanding
Commercial Bank of Ethiopia (CBE).
corporate bond balance.

During the second quarter of 2023/24, CBE

purchased corporate bonds worth Birr 12.0
billion, of which, Birr 7.0 billion was from
Ethiopian Electric Power (EEP) and Birr 5.0
billion from Addis Ababa City
Administration.

In the meantime, the amount of corporate bond

redeemed stood at Birr 4.4 billion, of which,
Birr 4.4 billion was by Addis Ababa City
Administration and Birr 12.1 million by EEP.

42 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Table 4.15: Corporate Bond Purchase, Redemption and Outstanding (in millions of Birr)
2021/22 2022/23 2023/24
QII QII QII
Issuer of the Bond NP Red O/S NP Red O/S NP Red O/S
1.Puplic Enterprises 25,213.96 - 425,342.09 13,427.72 871.43 465,301.43 7,000.00 12.09 520,723.22
EEP 12,200.00 - 340,941.90 11,000.00 - 368,864.97 7,000.00 12.09 243,530.71
Railway Corporations 13,013.96 - 84,400.19 2,427.72 871.43 96,436.46 - - -
DBE - - - - - - -
Liability & Asset Management Corp. - - 277,192.50
2. Regional Governments 2,500.00 947.21 51,786.02 - 1,521.86 52,213.51 5,000.00 4,353.36 38,326.55
Oromia - 0.12 372.34 - 37.43 228.13 - - -
Amhara - - - - - - - -
Tigray - - 91.54 - - - - - -
SNNPRS - - - - - - - - -
Dire Dawa - - 0.00 - - - - - -
Harari - - 0.00 - - - - - -
Addia Ababa 2,500.00 947.09 51,322.14 - 1,484.43 51,985.38 5,000.00 4,353.36 38,326.55
3.Grand Total(1+2) 27,713.96 947.21 477,128.11 13,427.72 2,393.28 517,514.95 12,000.00 4,365.45 559,049.77
Note: NP= New Purchase, Red. = Redemption, O/S= outstanding

Source: NBE

43 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

V. EXTERNAL SECTOR DEVELOPMENTS

5.1. Balance of Payments from USD 1.5 billion last year to USD 2

During the second quarter, the overall billion during the reporting quarter. This

BOP registered a deficit of USD 389.5 was mainly driven by higher trade deficit

million compared to USD 328.1 million (9.8 percent) coupled with lower net

deficit a year ago. Meanwhile, the service surplus (5.8 percent) and

current account balance (including slowdown in both net private transfers

official transfers) widened (4.9 percent) and net official transfers

(13.2 percent) (Table 5.1).

44 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Table 5.1: Balance of Payments (In Millions of USD)

2022/23 2023/24
S/N Particulars Percentage Change
QII QI QII
A B C D=C/A E=C/B
1 Exports, f.o.b. 778.0 834.0 770.7 -0.9 -7.6
Coffee 234.8 355.1 218.4 -7.0 -38.5
Other 543.2 478.8 552.3 1.7 15.3
2 Imports 4,503.9 4,126.9 4,863.6 8.0 17.9
Fuel 946.1 914.5 1,039.6 9.9 13.7
Cereals 343.2 107.3 175.7 -48.8 63.8
Aircraft 43.9 92.4 229.6 423.3 148.3
Imports excl. fuel, cereals, aircraft 3,170.7 3,012.6 3,418.7 7.8 13.5
3 Trade Balance (1-2) -3,725.9 -3,292.9 -4,092.9 9.8 24.3
4 Services, net 240.9 449.6 226.9 -5.8 -49.5
Non-factor services, net 344.4 519.1 315.5 -8.4 -39.2
Exports of non-factor services 1,841.0 2,042.4 1,896.3 3.0 -7.2
Imports of non-factor services 1,496.5 1,523.3 1,580.8 5.6 3.8
Factor services (Investment income), net -103.5 -69.5 -88.6 -14.4 27.4
Interest, net -103.2 -69.5 -88.6 -14.2 27.4
Dividend, net -0.3 0.0
5 Private transfers, net 1,640.9 1,214.2 1,561.2 -4.9 28.6
o/w: NGO's,(Net) 512.1 202.6 151.7 -70.4 -25.1
Private Individuals 1,128.7 1,011.6 1,409.5 24.9 39.3
6 Current account balance excluding official -1,844.2 -1,629.1 -2,304.8 25.0 41.5
transfers (3+4+5)
7 Official transfers, net 344.9 267.7 299.4 -13.2 11.8
8 Current account balance including official -1,499.2 -1,361.4 -2,005.4 33.8 47.3
transfers(6+7)
9 Capital account 1,197.1 516.8 1,542.1 28.8 198.4
Official Long-term Capital, net 100.2 35.3 219.0 118.6 520.7
Disbursements 215.4 151.7 346.8 61.0 128.5
Amortization 115.2 116.5 127.8 11.0 9.7
Other public long-term capital -44.0 -126.2 67.5 -253.3 -153.5
Private sector, long term 14.9 17.7 41.3 177.6 132.6
Foreign Direct Investment, net 1,083.8 766.1 1,058.7 -2.3 38.2
Short-term Capital 42.3 -176.2 155.6 267.6 -188.3
10 Errors and Omissions [11-(9+8)] -26.0 -98.1 73.8
11 Overall balance (-13) -328.1 -942.6 -389.5
12 Financing (13+16) 328.1 942.6 389.5
13 Reserves [ Increase(-), Decrease (+)] (14+15) 328.1 942.6 389.5
14 Central Bank (NFA) 273.6 604.9 498.4
Asset 44.0 548.7 -1,538.3
Liabilities 229.6 56.2 2,036.6
15 Commercial banks (NFA) 54.5 337.7 -108.9
16 Debt Relief
Principal
Interest
Source: NBE Staff Compilation

45 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Total current receipts amounted to USD USD 6.6 billion due to higher import
4.6 billion showing 2.5 percent annual payments (8 percent), services payments
decline owing to fall in export proceed (4.7 percent) and private transfer
(0.9 percent), private transfers (3.8 payments (from USD 3.8 million last
percent) and public transfers (26.5 year the same period to USD 20.9
percent) despite a rise in services million) in spite of slowdown in public
proceeds (3.4 percent). transfer payments (90.5 percent) (Table
5.2).
On the other hand, total current
payments increased by 6.3 percent to

Table 5.2: Current Receipts and Payments

(In millions of USD)
2022/23 2023/24
Percentage Change
QII QI QII
S/N Particulars
A B C D=C/A E=C/B
1 Current Receipts 4,693.2 4,389.5 4,575.4 -2.5 4.2
Export Proceeds 778.0 834.0 770.7 -0.9 -7.6
Services Proceeds 1,853.8 2,056.4 1,916.4 3.4 -6.8
Private Transfers 1,644.6 1,219.9 1,582.1 -3.8 29.7
Public Transfers 416.8 279.2 306.3 -26.5 9.7
2 Current Payments 6,192.4 5,750.9 6,580.8 6.3 14.4

Import Payments 4,503.9 4,126.9 4,863.6 8.0 17.9

Services Payments 1,612.9 1,606.8 1,689.5 4.7 5.1
Private Transfers 3.8 5.7 20.9 451.7 267.0
Public Transfers 71.8 11.5 6.8 -90.5 -40.6
3 Net (1-2) -1,499.2 -1,361.4 -2,005.4 33.8 47.3
Source: NBE Staff Compilation

46 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Fig.V.1: Trends in Current Receipts and Payments

7,000.0
6,000.0
In Millions of USD

5,000.0
4,000.0
3,000.0
2,000.0
1,000.0
-
Qtr IV

Qtr IV
Qtr II

Qtr II

Qtr II

Qtr II

Qtr II

Qtr II

Qtr II

Qtr II
Qtr I

Qtr I

Qtr IV
Qtr I

Qtr IV
Qtr I

Qtr IV
Qtr I

Qtr IV
Qtr I

Qtr IV
Qtr I

Qtr I
Qtr III

Qtr III

Qtr III

Qtr III

Qtr III

Qtr III

Qtr III
2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24
Current Receipts Current Payments

Source: NBE Staff Compilation

5.2. Balance of Trade

Merchandise trade deficit widened to year ago due to higher merchandise

USD 4.1 billion from USD 3.7 billion a import bills coupled with the decline in
export receipts.

Fig.V.2: Quarterly Movements in Export Proceeds & Import Payments

6000
(In Millions of USD)

5000

4000

3000

2000

1000

0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24

Export Import

Source: Ethiopian Customs Commission

47 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

4500 Fig.V.3: Evolution of Trade Deficit

4000
3500
(In Millions of USD)

3000
2500
2000
1500
1000
500
0
Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2
2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24

Source: Ethiopian Customs Commission

5.2.1. Export of Goods volume. As a result, the share of coffee

Merchandise export earnings declined in total merchandise export earnings
marginally (0.9 percent) on account of declined to 28.3 percent from 30.2
lower revenues from coffee (7.0 percent a year earlier.
percent), flower (15.7 percent), chat
Likewise, export receipts from flower
(13.9 percent), fruits & vegetables (58.1
decreased 15.7 percent on account of
percent), meat & meat products (39.2
lower export volume (5.6 percent) and
percent), textile & textile products (45.1
international price (10.7 percent).
percent), leather & leather products
Accordingly, the share of flower in total
(29.9 percent) and other exports (21.8
merchandise export declined to 14.7
percent). On the other hand, there were
percent from 17.3 percent a year ago.
improvements in export receipts from
pulses (41.5 percent), gold (63.1 Earnings from chat export went down
percent), oilseeds (101.9 percent), live- (13.9 percent) as export volume declined
animals (216.6 percent) and electricity (37.8 percent) in spite of 38.4 percent
(18.3 percent). rise in international price. Therefore, the
share of chat in total merchandise export
receipts from coffee export saw a 7.0
earnings was 6.0 percent relative to 6.9
percent annual drop owing to 16.5
percent a year ago.
percent decline in international price
despite 11.4 percent rise in export

48 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Export receipts from meat & meat percent). Hence, its share in total
products declined by 39.2 percent to merchandise export slightly declined to
USD 15.3 million due to the decline in 0.7 percent from 1.0 percent a year ago.
export volume (12.5 percent) and
On the other hand, proceeds from pulses
international price (30.5 percent). As a
export grew by 41.5 percent over last
result, the share of meat & meat products
year same quarter as a result of higher
in total export earnings stood at 2.0
export volume (36.4 percent) and
percent from 3.2 percent a year earlier.
international price (3.8 percent).
Receipts from fruits & vegetables export Therefore, the share of pulses in total
declined from 58.1 percent to USD 18.7 goods export revenue increased to 11.5
million owing to the fall in international percent from 8.0 percent a year ago.
price (68.9 percent) in spite of higher
Likewise, earnings from oilseeds export
export volume (34.8 percent). Thus, the
surged by 101.9 percent attributed to the
share of fruits & vegetables in total
rise in export volume (84.8 percent) and
merchandise export receipt dropped to
international price (9.2 percent). Thus,
2.4 percent from 5.7 percent a year
the share of oilseeds in total export
earlier.
earnings doubled to 10.2 percent from
Revenue from textile & textile products 5.0 percent a year earlier.
fell by 45.1 percent on account of the
Likewise, export earnings from gold rose
drop in international price (43.1 percent)
63.1 percent mainly due to an increase in
and export volume (4 percent).
international price (59.8 percent) and
Therefore, its share in total merchandise
export volume (2.1 percent). Hence, its
export earnings decreased to 3.7 percent
contribution to the total merchandise
from 6.7 percent a year earlier.
export receipts increased to 11.1 percent
Similarly, receipts from export of leather from 6.7 percent last year same quarter.
& leather products declined by 29.9
Export receipts from live-animals grew
percent vis-à-vis same quarter last year
substantially (by 216.6 percent) owing to
due to lower in international price (7.0
more than five-fold increase in export
percent) and export volume (24.6
volume despite 50.6 percent decrease in

49 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

international price. As a result, the share due to increased export volume (7.6
of live-animals in total merchandise percent) and international price (10.0
export earnings increased to 1.4 percent percent). Hence, the share of electricity
from 0.4 percent a year ago. in total export earnings expanded to 3.3
from 2.7 percent a year ago (Tables 5.3,
Moreover, export receipts from
5.4 and 5.5).
electricity witnessed 18.3 percent growth

Table 5.3: Values of Major Export Items

(In Millions of USD)
Percentage
2022/23 2023/24
Change
Particulars QII QI QII
A %share B %share C %share C/A C/B
Coffee 234.8 30.2 355.1 42.6 218.4 28.3 (7.0) (38.5)
Oilseeds 38.8 5.0 31.6 3.8 78.4 10.2 101.9 148.1
Leather and Leather
Products 7.4 1.0 6.6 0.8 5.2 0.7 (29.9) (20.6)
Pulses 62.5 8.0 85.5 10.3 88.4 11.5 41.5 3.3
Meat & Meat Products 25.2 3.2 13.6 1.6 15.3 2.0 (39.2) 12.4
Fruits & Vegetables 44.6 5.7 17.6 2.1 18.7 2.4 (58.1) 5.9
Textile & Textile
Products 52.1 6.7 31.5 3.8 28.6 3.7 (45.1) (9.3)
Live Animals 3.3 0.4 8.0 1.0 10.5 1.4 216.6 31.8
Chat 53.8 6.9 43.3 5.2 46.3 6.0 (13.9) 7.0
Gold 52.3 6.7 78.8 9.5 85.3 11.1 63.1 8.2
Flower 134.6 17.3 112.1 13.4 113.5 14.7 (15.7) 1.2
Electricity 21.2 2.7 22.0 2.6 25.1 3.3 18.3 13.8
Others 47.4 6.1 28.1 3.4 37.0 4.8 (21.8) 31.8
Total Export 778.0 100.0 834.0 100.0 770.7 100.0 (0.9) (7.6)
Total Export
Excluding Electricity 756.8 812.0 745.6 (1.5) (8.2)
Source: Ethiopian Customs Commission, Ethiopian Electric Utility and Ethiopian Electric Power

50 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Fig.V.4: Export Value of Selected Commodities

600
500
(Millions USD)

400
300
200
100
0
QII
QIII

QII
QIII

QII
QIII

QII
QIII

QII
QIII

QII
QIII

QII
QIII

QII
QI

QIV
QI

QIV
QI

QIV
QI

QIV
QI

QIV
QI

QIV
QI

QIV
QI
2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24
Coffee Oil Seeds Leather and Leather Products Pulses Flower Gold Chat

Source: NBE Staff Compilation

Table 5.4: Volume of Major Export Items

(In millions of Kg)
2022/23 2023/24
Percentage Change
Particulars QII QI QII
A B C C/A C/B
Coffee 45.3 67.8 50.4 11.4 (25.6)
Oilseeds 23.8 17.7 44.0 84.8 148.6
Leather and Leather Products 0.5 0.5 0.3 (24.6) (27.1)
Pulses 80.2 109.8 109.4 36.4 (0.4)
Meat & Meat Products 2.8 2.2 2.4 (12.5) 9.8
Fruits & Vegetables 39.4 49.5 53.1 34.8 7.1
Textile & Textile Products 7.5 8.6 7.3 (4) (15)
Live Animals 1.4 10.8 9.2 541.2 (15.2)
Chat 7.4 4.3 4.6 (37.8) 8.5
Gold(In mn. of grams) 0.9 0.9 1.0 2.1 3.4
Flower 24.7 23.7 23.3 (5.6) (1.6)
Electricity(In mn of kwh) 371.7 359.0 399.8 7.6 11.3
Source: Ethiopian Customs Commission, Ethiopian Electric Utility and Ethiopian Electric Power

51 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Fig.V.5: Export Volume of Selected Commodities

180 0.004
160 0.003

(Gold, Million Kg.)

140
(Millions Kg.)

0.003
120
100 0.002
80 0.002
60
0.001
40
20 0.001
0 0.000
QIII

QIII

QIII

QIII

QIII

QIII

QIII
QI
QII

QI
QII

QII

QII

QII
QIV

QIV
QI

QIV
QI
QII

QIV
QI

QIV
QI

QIV
QI
QII

QIV
QI
QII
2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24
Coffee Oil Seeds Leather & Leather Products
Pulses Flower Chat
Gold (SA)

Source: NBE Staff Computation

Table 5.5: Unit Value of Major Export Items

(In USD/kg)
2022/23 2023/24
Percentage Change
Particulars QII QI QII
A B C C/A C/B
Coffee 5.2 5.2 4.3 (16.5) (17.4)
Oilseeds 1.6 1.8 1.8 9.2 (0.2)
Leather and Leather Products 16.5 14.1 15.3 (7.0) 9.0
Pulses 0.8 0.8 0.8 3.8 3.7
Meat & Meat Products 9.1 6.1 6.3 (30.5) 2.4
Fruits & Vegetables 1.1 0.4 0.4 (68.9) (1.1)
Textile & Textile Products 6.9 3.7 3.9 (43.1) 7.2
Live Animals 2.3 0.7 1.1 (50.6) 55.5
Chat 7.2 10.1 10.0 38.4 (1.4)
Gold (USD/grams) 56.0 85.5 89.5 59.8 4.7
Flower 5.5 4.7 4.9 (10.7) 2.9
Electricity (USD/kwh) 0.1 0.1 0.1 10.0 6.2
Source: Ethiopian Customs Commission, Ethiopian Electric Utility and Ethiopian Electric Power

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 National Bank of Ethiopia Quarterly Bulletin

Fig.V.6: Unit Value of Selected Export Commodities

100 12.0
(USD/kg,, USD/gm(Gold))

90
80 10.0
70 8.0

(USD/Kg)
60
50 6.0
40
30 4.0
20 2.0
10
0 0.0
QIII
QII
QIII

QII

QIII

QIII
QII

QII
QIII

QII
QIII

QII

QII
QIII

QII
QI

QIV
QI

QIV
QI

QIV
QI

QIV
QI

QIV
QI

QIV
QI

QIV
QI
2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24
Leather & Leather Products Gold Coffee (SA)
Oil Seeds (SA) Pulses (SA) Flower (SA)
Chat (SA)
Source: NBE Staff Computation

5.2.2. Import of Goods goods import increased to 31.1 percent

from 22.6 percent a year earlier.
Goods valued at USD 4.9 billion were
imported during the review quarter, Likewise, payments for fuel grew by 9.9
which was 8.0 percent higher than last percent and its share in total import
year same period due to higher import payments slightly rose to 21.4 percent
values of capital goods, fuel, semi- from 21.0 percent a year ago.
finished goods, raw materials and
Payments for semi-finished goods
miscellaneous goods. Import values of
increased by 22.2 percent as import bills
consumer goods, however, tended to
of fertilizer went up by 144.7 percent.
decrease.
Hence, the share of semi-finished goods
Capital goods imported surged 48.8 in total merchandise import bills rose to
percent owing to the rise in import bills 17.2 percent from 15.2 percent a year
of transport capital goods (87.4 percent) earlier.
and industrial capital goods (42.1
Import bill of raw materials increased
percent) despite the fall in agricultural
19.6 percent relative to same quarter of
capital goods (39.9 percent). As a result,
last year while their share in total
the share of capital goods in the total

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 National Bank of Ethiopia Quarterly Bulletin

merchandise import remained at 0.7 percent). Hence, the share of consumer

percent. goods in total import dropped to 28.8
percent from 39.8 percent a year ago.
On the other hand, consumer goods
import bill fell 22.0 percent relative to Meanwhile, total franco-valuta import
last year same period due to lower increased by 5.6 percent and stood at
import value of non-durable goods (24.4 USD 2.0 billion accounting for 40.1
percent) and durable goods (13.7 percent of the total import value.

Table 5.6: Values of Major Import Items

(In Millions of USD)
2022/23 2023/24
Share Share Share Percentage Changes
Particular QII QI QII
(%) (%) (%)
A B C C/A C/B
Raw Materials 29.8 0.7 28.0 0.7 35.7 0.7 19.6 27.6
Semi-finished Goods 686.1 15.2 950.2 23.0 838.6 17.2 22.2 -11.7
Fertilizers 101.4 2.3 341.3 8.3 248.1 5.1 144.7 -27.3
Fuel 946.1 21.0 914.5 22.2 1,039.6 21.4 9.9 13.7
Petroleum Products 903.7 20.1 892.5 21.6 1,007.2 20.7 11.4 12.9
Others 42.3 0.9 22.1 0.5 32.4 0.7 -23.5 46.9
Capital Goods 1,017.3 22.6 1,066.6 25.8 1,513.9 31.1 48.8 41.9
Transport 201.9 4.5 228.7 5.5 378.3 7.8 87.4 65.4
Agricultural 27.8 0.6 19.9 0.5 16.7 0.3 -39.9 -16.2
Industrial 787.7 17.5 817.9 19.8 1,119.0 23.0 42.1 36.8
Consumer Goods 1,793.1 39.8 1,134.4 27.5 1,399.5 28.8 -22.0 23.4
Durables 406.7 9.0 337.8 8.2 350.9 7.2 -13.7 3.9
Non-durables 1,386.5 30.8 796.6 19.3 1,048.6 21.6 -24.4 31.6
Miscellaneous 31.4 0.7 33.2 0.8 36.3 0.7 15.6 9.4
Total Imports 4,503.9 100.0 4,126.9 100.0 4,863.6 100.0 8.0 17.9
Source: Ethiopian Customs Commission

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 National Bank of Ethiopia Quarterly Bulletin

Table 5.7: Value of Franco Valuta Import

(In Millions of USD
2022/23 2023/24
Percentage Change
Commodity Group QII QI QII
A B C C/A C/B
Beverages 0.9 0.2 1.7 98.0 796.0
Chemicals 16.8 10.2 11.0 (34.6) 7.5
Clothing 7.3 5.9 6.3 (13.1) 6.0
Food and live animals 435.5 83.1 135.9 (68.8) 63.4
Textiles 42.6 58.6 63.6 49.4 8.4
Tobacco 0.1 0.1 0.2 224.6 358.9
Soap & polish 13.9 10.1 6.9 (50.4) (31.7)
Fertilizer 74.4 74.2 88.7 19.2 19.5
Paper & paper manufacturing 7.5 13.8 7.3 (3.6) (47.4)
Metal & metal manufacturing 65.8 121.5 130.7 98.7 7.6
Medical and pharmaceuticals
products 0.2 0.3 4.6 1,778.1 1,373.0
Rubber products 22.2 17.6 18.0 (18.9) 2.4
Petroleum Crude 0.0 0.0 - (100.0) (100.0)
Petroleum product 8.9 20.6 10.7 21.1 (47.8)
Glass & glass ware 3.7 2.3 4.0 6.3 76.2
Electrical material 87.9 58.6 80.6 (8.3) 37.6
Machine 214.5 213.8 674.1 214.3 215.3
Road & motor vehicles 5.8 20.9 17.9 207.8 (14.3)
Tele apparatus 1.1 0.7 5.3 399.7 681.0
Cement 0.1 0.0 0.0 (99.1) (1.2)
Others 837.9 519.5 683.5 (18.4) 31.6
Total 1,847.0 1,232.0 1,951.0 5.6 58.4
Source: Ethiopian Customs Commission

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 National Bank of Ethiopia Quarterly Bulletin

5.2.3. Direction of Trade

5.2.3.1. Export of Goods

The major destinations for Ethiopian Kingdom (4.7 percent), Italy (3.1
export were Asia, Europe and Africa. percent), France (2.9 percent), Russia
Asia accounted for 42.9 percent of (1.3 percent) and Norway (0.9 percent).
Ethiopia’s total export revenue, with These European countries together had
Saudi Arabia taking 23.8 percent share, 96.2 percent share in Ethiopia’s total
followed by UAE (14.3 percent), India exports to Europe.
(8.8 percent), China (7.8 percent), Israel
About 14.5 percent of Ethiopia’s export
(7.1 percent), South Korea (6.2 percent),
earnings originated from Africa, mainly
Japan (5.7 percent), Singapore (4.8
Djibouti (27.8 percent), Somalia (27.2
percent), Pakistan (2.7 percent), Yemen
percent), Kenya (18.3 percent), Sudan
(2.1 percent), Hong Kong (1.8 percent),
(15.0 percent), South Africa (1.8
Indonesia (1.6 percent) and Taiwan (1.3
percent) and Egypt (1.6 percent), which
percent). These countries in total had
altogether accounted for 91.7 percent of
87.9 percent share in Ethiopia’s total
the total exports to Africa.
export to Asia.
America had 6.0 percent share in
Europe constituted 34.5 percent of
Ethiopia’s total export earnings, of
Ethiopia’s total export receipts, with the
which, 78.4 percent was from the United
Switzerland being the main destination
States followed by Canada (10.9
accounting for 32.4 percent share
percent). These two countries constituted
followed by Netherlands (29.1 percent),
89.3 percent of Ethiopia’s total exports
Germany (8.6 percent), Belgium (7.8
earnings from America.
percent), Turkey (5.5 percent), United

56 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Fig.V.7: Export By Destination

0.6% 1.4%

14.5%
Africa
Europe
America
Asia
42.9%
Oceania
Unspecified
34.5%

6.0%

Source: NBE Staff Compilation

5.2.3.2. Import of Goods

Asia accounted for 62.8 percent of (24.7 percent), Italy (6.7 percent),
Ethiopia’s total import bills with the Germany (4.5 percent), France (4.3
major import payments made for China percent), Belgium (3.1 percent),
(35.9 percent), Saudi Arabia (20.2 Netherlands (2.6 percent), Russia (2.0
percent), India (13.3 percent), UAE (9.1 percent), Spain (1.7 percent), Poland
percent), Malaysia (5.0 percent), (1.1 percent) and Denmark (1.0 percent).
Indonesia (4.2 percent), Hong Kong (2.0 These countries jointly accounted for
percent) and South Korea (1.2 percent) 83.5 percent of Ethiopia’s total import
whose combined share was 90.9 percent. bills for Europe.

Import payments for Europe constituted Africa’s share in total value of

17.0 percent of Ethiopia’s total import merchandise imports of Ethiopia was
bills with the major countries being 14.2 percent. The major countries of
Turkey (31.7 percent), United Kingdom origin were Egypt (40.1 percent),
Morocco (32.4 percent), Djibouti (12.7

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 National Bank of Ethiopia Quarterly Bulletin

percent), South Africa (9.2 percent) and followed by Brazil (16.2 percent),
Kenya (3.9 percent) which altogether Canada (1.4 percent) and Mexico (1.4
represented 98.2 percent of the total percent). These countries jointly
import bills made for African continent. accounted for 88.6 percent of Ethiopia’s
total import bills for America.
Import bills for America had 5.9 percent
share in total import bills, of which the
share of United States was 69.6 percent

Fig.V.8: Import By Origin

0.1%

14.2%

Africa
Europe
17.0% America
Asia
62.8% Oceania
5.9%

Source: NBE Staff Compilation

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 National Bank of Ethiopia Quarterly Bulletin

5.3. Services and Transfers percent while the deficit in net other
services and investment income declined
5.3.1. Net Services by 11.6 percent and 14.4 percent,

During the review quarter, net services respectively (Table 5.8).

recorded a surplus of USD 226.9 million

which was 5.8 percent lower than USD
240.9 million surplus recorded a year
ago. The slowdown in net services
surplus was attributed to lower in net
travel (40.7 percent) and net government
services (26.4 percent). Net transport
services, however, increased by 3.3

Fig.V.9: Trends in Net Service

600.0
500.0
400.0
(In Million USD)

300.0
200.0
100.0
0.0
QIII
Qtr II

Qtr II

Qtr II

Qtr II

Qtr II

Qtr II
Qtr IV

Qtr IV

Qtr IV

Qtr IV

Qtr IV

Qtr IV
QI
Q II

Qtr IV

Q II
Qtr I

Qtr I

Qtr I

Qtr I

Qtr I

QI
Qtr III

Qtr III

Qtr III

Qtr III

Qtr III

Qtr III

-100.0
-200.0
2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24
-300.0
-400.0
Net Service Net Travel Net Transportation
Net Government (n.i.e) Net Investment Income

Source: NBE Staff Compilation

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 National Bank of Ethiopia Quarterly Bulletin

Table 5.8: Developments in Services Accounts

(In Millions of USD)
2022/23 2023/24
S/N Particulars QII QI QII Percentage Change
A B C D=C/A E=C/B
1 Investment Income (2+5) -103.5 -69.5 -88.6 -14.4 27.4
2 Interest, net (3-4) -103.2 -69.5 -88.6 -14.2 27.4
3 Credit 12.8 14.0 20.1 56.8 44.0
4 Debit 116.1 83.5 108.7 -6.3 30.2
5 Dividend, net -0.3 0.0
6 NON-FACTOR SERVICES, net (7-8) 344.4 519.1 315.5 -8.4 -39.2
7 Exports of non-factor services 1,841.0 2,042.4 1,896.3 3.0 -7.2
8 Travel 307.5 275.6 278.4 -9.5 1.0
9 Transport 1 1,404.6 1,624.0 1,444.1 2.8 -11.1
10 Gov't 2 44.6 23.7 32.9 -26.2 39.1
11 Other 3 84.3 119.2 140.9 67.2 18.2
12 Imports of non-factor services 1,496.5 1,523.3 1,580.8 5.6 3.8
13 Travel 187.4 169.7 207.2 10.5 22.0
14 Transport 1 1,053.5 1,090.8 1,081.3 2.6 -0.9
15 Gov't 2 0.1 0.1 0.2 20.4 24.1
16 Other 3 255.4 262.6 292.2 14.4 11.3
17 Net Services (18+19+20+21+22) 240.9 449.6 226.9 -5.8 -49.5
18 Travel (8-13) 120.0 105.8 71.2 -40.7 -32.7
19 Transport (9-14) 351.1 533.2 362.8 3.3 -32.0
20 Gov't (10-15) 44.5 23.5 32.7 -26.4 39.2
21 Other (11-16) -171.2 -143.4 -151.2 -11.6 5.5
22 Investment Income (2+5) -103.5 -69.5 -88.6 -14.4 27.4
Source: MoF, Transport and Telecommunication Companies, NBE- FEMRMD and Staff Compilation
1/ Includes Ethiopian Airlines receipts and payments
2/ Includes transactions with Embassies and international organizations such as UN-ECA, AU, EU, IMF and WB
3/ Includes communication, construction, insurance, financial, information, other business

5.3.2. Transfers
During the review period, total transfer from USD 75.6 million as a result of lower

receipts decreased by 8.4 percent and official transfer payments (90.5 percent) in

reached USD 1.9 billion due to 3.8 percent spite of rise in private transfer payments

decline in private transfers and 26.5 percent (from USD 3.8 million to USD 20.9

in official transfers. Likewise, total transfer million). Hence, net transfers declined by

payments decreased to USD 27.7 million 6.3 percent and reached USD 1.9 billion
from USD 2 billion last year same period
(Table 5).

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 National Bank of Ethiopia Quarterly Bulletin

Table 5.9: Developments in Transfer Accounts

(In Millions of USD)

2022/23 2023/24 Percentage

Change
QII Share QI Share QII Share
S/N Particulars (In %) (In %) (In %)
A B C D=C/A E=C/B

1 Private transfers, net 1,640.9 82.6 1,214.2 81.9 1,561.2 83.9 -4.9 28.6
2 (2-5) (3+4)
Credit 1,644.6 79.8 1,219.9 81.4 1582.1 83.8 -3.8 29.7
3 NGO's 515.9 25.0 208.3 13.9 172.6 9.1 -66.5 -17.2
4 Private individuals 1,128.7 54.8 1,011.6 67.5 1,409.5 74.6 24.9 39.3
5 Debit 3.8 5.0 5.7 33.1 20.9 75.3 451.7 267.0
6 Official transfers, net 344.9 17.4 267.7 18.1 299.4 16.1 -13.2 11.8
7 Credit
(7-8) 416.8 20.2 279.2 18.6 306.3 16.2 -26.5 9.7
8 Debit 71.8 95.0 11.5 66.9 6.8 24.7 -90.5 -40.6
9 Total Receipts 2,061.4 100.0 1,499.1 100.0 1,888.3 100.0 -8.4 26.0
10 Total Payments 75.6 100.0 17.2 100.0 27.7 100.0 -63.4 61.1
11 Net Transfers 1,985.8 100.0 1,481.9 100.0 1,860.6 100.0 -6.3 25.6

Source: NBE Staff Computation

Fig.V.10: Trends in Private and Official Transfers, (Receipts)

2500

2000
(In Millions of USD)

1500

1000

500

0
Qtr II

QIII
Qtr I
Qtr II

Qtr II

Qtr II

QII
Qtr IV
Qtr I
Qtr II

Qtr IV
Qtr I

Qtr IV
Qtr I

Qtr IV
Qtr I
Qtr II

Qtr IV
Qtr I

Qtr IV
Qtr I
Qtr II

Qtr IV
QI
Qtr III
Qtr III

Qtr III

Qtr III

Qtr III

Qtr III

2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24

Private Transfers Official Transfers
Source: NBE Staff Compilation

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 National Bank of Ethiopia Quarterly Bulletin

5.4. Current Account Balance

Current account balance (including trade deficit, fall in net services surplus
official transfers) widened to USD 2 and decline in both private transfers and
billion from USD 1.5 billion last year public transfers (Table 5.1).
same period due to higher merchandise

5.5. Capital Account

Capital account registered a surplus of USD capital and short term capital (267.6)
1.5 billion, which is 28.8 percent higher than coupled with a shift in other public sector
USD 1.2 billion surplus recorded a year ago. long-term capital from deficit of USD 44
The rise in surplus was mainly attributed to million a year ago to surplus of 67.5 million
increase in net surplus of official long term this year. On the other hand, net foreign
capital from USD 100.2 million to USD 219 direct investment decreased by 2.3 percent.
million this year, private sector long term

5.6. Changes in Reserve Position

The overall balance of payments during the National Bank of Ethiopia showed USD
second quarter of the FY 2023/24 exhibited 498.4 million drawdown while net foreign
USD 389.5 million in deficit compared to asset of commercial banks showed USD
USD 328.1 million deficit a year earlier. 108.9 million build up (Table 5.1).
Consequently, net foreign asset of the

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 National Bank of Ethiopia Quarterly Bulletin

5.7. Developments in the Foreign Exchange Market

5.7.1. Exchange Rate Movements

In the inter-bank forex market, depreciation. The end period exchange

weighted average official exchange rate rate of the Birr was 55.9969/USD,
of Birr stood at Birr 55.6146/USD in indicating a 5.0 percent annual
the second quarter of 2023/24, depreciation of the Birr against USD.
depicting a 5.0 percent annual

Table 5.10: Developments of Inter-bank Market Forex Traded and Exchange Rates
(USD/ETB)

Official Market
Amount Traded in
End Period Average Millions of USD
Period Weighted Rate Weighted Rate Among
Total
CBs
2022/23 54.5943 53.2830 12.7 0.00
Qtr. II C 53.3387 52.9654 3.25 0.00
October 52.8777 52.7413 1.05 0.00
November 53.0339 52.9601 1.10 0.00
December 53.3387 53.1947 1.10 0.00
2023/24
Qtr. I B 55.2224 54.9259 3.10 0.00
July 54.7611 54.6826 1.05 0.00
August 55.0944 54.9330 1.15 0.00
September 55.2224 55.1620 0.90 0.00
Qtr. II A 55.9969 55.6146 3.25 0.00
October 55.5230 55.3722 1.10 0.00
November 55.6998 55.6229 1.10 0.00
December 55.9969 55.8488 1.05 0.00
Percentage A/B 1.40 1.25 4.84
Changes A/C 4.98 5.00 0.00
Source: National Bank of Ethiopia

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 National Bank of Ethiopia Quarterly Bulletin

In retail foreign exchange market, the Therefore, the average spread between the
average buying rate in the forex bureau of buying and the selling rates remained at 2.0
commercial banks stood at Birr percent (Table 5.11).
55.7014/USD, showing 4.8 percent annual
depreciation, while the selling rate (at Birr
56.8042/USD), depreciated 4.7 percent.

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 National Bank of Ethiopia Quarterly Bulletin

Table 5.11: Amount of Foreign Exchange Purchased and Sold by Forex Bureau of Commercial Banks (In ‘000 of USD)
2022/23 2023/24
Percentage change
Quarter II Quarter I Quarter II
A B C C/B C/A
No. Name of Forex Bureaux Purchases Sales Purchases Sales Purchases Sales Purchases Sales Purchases Sales
1 Commercial Bank of Ethiopia 35,986.4 32,341.2 49,926.6 42,819.4 39,396.8 36,714.4 (21.1) (14.3) 9.5 13.5
2 Bank of Abyssinia 348.9 6,508.9 120.1 4,282.9 97.1 5,244.3 (19.1) 22.4 (72.2) (19.4)
3 Dashen Bank 3,916.5 4,437.4 3,556.1 3,321.0 7,285.8 5,382.1 104.9 62.1 86.0 21.3
4 Awash International Bank 546.5 8,124.8 200.4 8,341.5 312.6 4,746.6 56.0 (43.1) (42.8) (41.6)
5 Wegagen Bank 180.1 1,626.8 80.9 1,176.1 34.5 530.3 (57.4) (54.9) (80.9) (67.4)
6 United Bank 560.5 826.6 326.7 861.6 228.9 959.3 (29.9) 11.3 (59.2) 16.1
7 Development Bank 34.4 27.3 3.9 98.5 - 8.3 (100.0) (91.6) (100.0) (69.6)
8 Nib International Bank 800.6 1,076.1 63.7 598.9 50.6 414.9 (20.6) (30.7) (93.7) (61.4)
9 Lion International Bank 53.7 45.0 406.1 300.9 243.9 130.5 (39.9) (56.6) 354.0 189.9
10 Oromia International Bank 3,825.8 1,513.8 1,789.8 1,293.2 1,751.4 1,782.4 (2.1) 37.8 (54.2) 17.7
11 Zemen Bank 68.0 947.9 39.3 475.0 26.3 675.2 (33.1) 42.2 (61.3) (28.8)
12 Cooperative Bank of Oromia 152.1 1,067.1 75.5 320.2 61.9 603.8 (18.0) 88.6 (59.3) (43.4)
13 Buna International Bank 225.9 265.9 88.7 314.8 136.8 205.1 54.3 (34.8) (39.4) (22.9)
14 Birhan International Bank 110.4 565.6 30.1 483.0 21.4 778.2 (29.0) 61.1 (80.6) 37.6
15 Abay Bank 214.1 256.7 18.5 331.6 20.6 312.8 11.3 (5.7) (90.4) 21.9
16 Addis International Bank 524.8 369.0 201.3 203.1 44.6 232.4 (77.8) 14.4 (91.5) (37.0)
17 Debub Global Bank 206.6 169.4 140.9 133.8 102.5 59.0 (27.2) (55.9) (50.4) (65.2)
18 Enat Bank 274.8 232.1 149.6 192.0 168.8 144.3 12.9 (24.8) (38.6) (37.8)
19 Zamzam Bank 4.9 95.6 0.2 150.7 1.7 183.4 695.9 21.7 (65.6) 91.9
20 Gohe Betoch Bank 0.4 67.1 6.9 33.3 - 25.1 (100.0) (24.6) (62.6)
21 Hijera Bank 25.6 48.5 540.6 52.3 83.2 32.9 (84.6) (37.0) 225.2 (32.2)
22 Amhara Bank 14.2 93.6 0.3 165.9 5.0 127.9 1,615.2 (22.9) (65.1) 36.6
23 Tsehay Bank 0.2 - 20.1 48.2 41.2 23.5 104.5 (51.3) -
24 Siinqee Bank 7.2 0.5 284.7 211.0 30.3 46.9 (89.3) (77.8) 319.7 -
25 Geda Bank - - 41.5 24.2 10.0 27.9 (76.0) 15.0
26 Ahadu Bank - - 3.1 55.2 1.5 32.3 (52.2) (41.5)
27 Tseday Bank - - 1.5 23.9 1.1 28.6 (26.6) 19.9
28 Sidama Bank - - 0.1 - 4.4 - - -
Total 48,082.5 60,706.9 58,117.2 66,312.3 50,162.9 59,452.4 (13.7) (10.3) 4.3 (2.1)
Average Exchange Rate 53.1549 54.2324 54.9813 56.1051 55.7014 56.8042 1.3 1.2 4.8 4.7
Spread 2.0 2.0 2.0
Source: National Bank of Ethiopia
Note: * Refers the percentage spread between forex bureaus average buying and selling exchange rate in a given quarter.

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 National Bank of Ethiopia Quarterly Bulletin

Fig.V.11: Average Buying, Selling Rates and Spread of Forex Bureau of Commercial Banks

60 2.2
2.1
50
2.1
(Birr per USD)

40

(Spread, %)
2.0
30 2.0
1.9
20
1.9
10 Buying Rate Selling Rate Spread
1.8
0 1.8
QIII
QIII
QI
QII

QII
QIII

QII
QIII

QII
QIII

QIII
QIV
QI

QIV
QI
QII

QIV
QI
QII
QIII
QIV
QI

QIV
QI

QIV
QI
QII

QI
QII
QIV
2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24

Source: NBE Staff Compilation

In the official forex market, US dollar On annual basis, USD depreciated against
fluctuated against major currencies. On Swiss Franc (8.7 percent), Euro (5.5
quarterly basis, it appreciated against Euro percent), SDR (1.4 percent) and Pound
(1.3 percent), Japanese Yen (1.1 percent), Sterling (0.4 percent), while it appreciated
Pound Sterling (0.8 percent), SDR (0.8 against Japanese Yen by 9.3 percent (Table
percent) and Swiss Franc (0.6 percent). 5.12).

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Table 5.12: Average Official Exchange Rates (USD per Major International Currencies)

EURO JAPANESE YEN SDR POUNDSTELING SWISS FRANK

Mid- Mid- Mid- Mid- Mid-
Period Buying Selling Rate Buying Selling Rate Buying Selling Rate Buying Selling Rate Buying Selling Rate

2022/23

QII C 1.0188 1.0188 1.0188 0.0069 0.0069 0.0069 1.3038 1.3038 1.3038 1.1498 1.1498 1.1498 1.0364 1.0364 1.0364

October 0.9818 0.9818 0.9818 0.0069 0.0069 0.0069 1.2805 1.2805 1.2805 1.1471 1.1471 1.1471 1.0045 1.0045 1.0045

November 1.0175 1.0175 1.0175 0.0069 0.0069 0.0069 1.2985 1.2985 1.2985 1.1511 1.1511 1.1511 1.0334 1.0334 1.0334

December 1.0571 1.0571 1.0571 0.0070 0.0070 0.0070 1.3325 1.3325 1.3325 1.1513 1.1513 1.1513 1.0713 1.0713 1.0713

2023/24

QI B 1.0894 1.0893 1.0894 0.0064 0.0064 0.0064 1.3331 1.3331 1.3331 1.1634 1.1634 1.1634 1.1328 1.1328 1.1328

July 1.1050 1.1050 1.1050 0.0064 0.0064 0.0064 1.3441 1.3441 1.3441 1.1647 1.1647 1.1647 1.1426 1.1426 1.1426

August 1.0919 1.0917 1.0918 0.0063 0.0063 0.0063 1.3344 1.3344 1.3344 1.1642 1.1642 1.1642 1.1386 1.1386 1.1386

September 1.0712 1.0712 1.0712 0.0063 0.0063 0.0063 1.3208 1.3208 1.3208 1.1614 1.1614 1.1614 1.1173 1.1173 1.1173

QII A 1.0751 1.0751 1.0751 0.0063 0.0063 0.0063 1.3226 1.3226 1.3226 1.1538 1.1538 1.1538 1.1263 1.1263 1.1263

October 1.0557 1.0558 1.0558 0.0063 0.0063 0.0063 1.3115 1.3115 1.3115 1.1527 1.1526 1.1526 1.1055 1.1055 1.1055

November 1.0791 1.0791 1.0791 0.0062 0.0062 0.0062 1.3218 1.3218 1.3218 1.1483 1.1483 1.1483 1.1197 1.1197 1.1197

December 1.0905 1.0905 1.0905 0.0064 0.0064 0.0064 1.3346 1.3346 1.3346 1.1604 1.1604 1.1604 1.1536 1.1536 1.1536

A/B -1.31 -1.30 -1.31 -1.08 -1.07 -1.08 -0.78 -0.78 -0.78 -0.83 -0.83 -0.83 -0.58 -0.58 -0.58
Percentage
Changes A/C 5.53 5.53 5.53 -9.33 -9.33 -9.33 1.44 1.44 1.44 0.35 0.35 0.35 8.67 8.67 8.67
Source: National Bank of Ethiopia

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On the other hand, the Birr exchange rate Moreover, the Birr depreciated against USD
weakened against major currencies both on (1.3 percent), Swiss Franc (0.7 percent), and
quarterly and annual bases. On annual terms, SDR (0.5 percent), whereas it appreciated
it depreciated against Swiss Franc (14.1 against Japanese Yen (1.1 percent), Pound
percent), Pound Sterling (11.2 percent), Sterling (0.9 percent) and Euro (0.1 percent)
Euro (10.8 percent), SDR (6.5 percent), (Table5.13).
USD (5.0 percent) and Japanese Yen (0.4
percent).

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Table 5.13: Period Average Exchange Rates (Birr per Major Currencies)

Currency

USD EURO JAPANESE YEN SDR POUNDSTERLING SWISS FRANK

Mid- Mid- Mid- Mid- Mid- Mid-
Period Buying Selling Rate Buying Selling Rate Buying Selling Rate Buying Selling Rate Buying Selling Rate Buying Selling Rate

2022/23

QII C 52.9654 53.4950 53.2302 53.9676 54.5072 54.2374 0.3745 0.3782 0.3763 69.0627 69.7533 69.4080 62.0535 62.6741 62.3638 54.8980 55.4470 55.1725

October 52.7413 53.2687 53.0050 51.7832 52.3010 52.0421 0.3586 0.3622 0.3604 67.5329 68.2083 67.8706 59.4007 59.9947 59.6977 52.9777 53.5075 53.2426

November 52.9601 53.4897 53.2249 53.8870 54.4259 54.1565 0.3712 0.3749 0.3731 68.7711 69.4588 69.1149 62.0265 62.6467 62.3366 54.7287 55.2760 55.0023

December 53.1947 53.7267 53.4607 56.2326 56.7945 56.5136 0.3936 0.3975 0.3955 70.8840 71.5928 71.2384 64.7335 65.3808 65.0572 56.9877 57.5576 57.2727

2023/24

QI B 54.9259 55.4751 55.2005 59.8292 60.4275 60.1283 0.3804 0.3842 0.3823 73.2186 73.9508 73.5847 69.6080 70.3041 69.9560 62.2187 62.8409 62.5298

July 54.6826 55.2294 54.9560 60.4270 61.0313 60.7292 0.3873 0.3912 0.3892 73.4988 74.2338 73.8663 70.3776 71.0814 70.7295 62.4787 63.1034 62.7911

August 54.9330 55.4823 55.2077 59.9710 60.5707 60.2709 0.3798 0.3836 0.3817 73.3017 74.0348 73.6683 69.8156 70.5138 70.1647 62.5475 63.1730 62.8603

September 55.1620 55.7136 55.4378 59.0896 59.6805 59.3850 0.3742 0.3779 0.3761 72.8552 73.5838 73.2195 68.6308 69.3171 68.9739 61.6299 62.2462 61.9380

QII A 55.6146 56.1708 55.8927 59.7947 60.3931 60.0939 0.3761 0.3799 0.3780 73.5597 74.2953 73.9275 68.9917 69.6813 69.3365 62.6414 63.2678 62.9546

October 55.3722 55.9259 55.6490 58.4590 59.0450 58.7520 0.3703 0.3740 0.3721 72.6221 73.3484 72.9852 67.3831 68.0559 67.7195 61.2129 61.8250 61.5189

November 55.6229 56.1791 55.9010 60.0210 60.6212 60.3211 0.3710 0.3747 0.3728 73.5215 74.2567 73.8891 68.9251 69.6143 69.2697 62.2805 62.9032 62.5919

December 55.8488 56.4073 56.1281 60.9041 61.5131 61.2086 0.3871 0.3910 0.3890 74.5356 75.2810 74.9083 70.6669 71.3736 71.0202 64.4308 65.0751 64.7529

A/B 1.25 1.25 1.25 -0.06 -0.06 -0.06 -1.14 -1.14 -1.14 0.47 0.47 0.47 -0.89 -0.89 -0.89 0.68 0.68 0.68
Percentage
Change A/C 5.00 5.00 5.00 10.80 10.80 10.80 0.44 0.44 0.44 6.51 6.51 6.51 11.18 11.18 11.18 14.10 14.10 14.10

Source: National Bank of Ethiopia

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Table 5.14: Birr per Unit of Currency End Period Mid-Market Rate

December September December Percentage

31, 2022 30, 2023 31, 2023 Change

Currency A B C C/B C/A

USD 53.6054 54.8673 56.2769 2.6 5.0

Pound 64.5034 69.4565 71.7755 3.3 11.3

Swedish Kroner 5.1114 5.0805 5.6612 11.4 10.8

Djibouti Frank 0.3008 0.3104 0.3183 2.6 5.8

Swiss Frank 57.9080 61.3180 67.2364 9.7 16.1

Saudi Riyal 14.2587 14.6290 15.0072 2.6 5.2

UAE Dirhams 14.5953 14.9364 15.3214 2.6 5.0

Canadian Dollar 39.4331 41.3812 42.5599 2.8 7.9

Japanese Yen 0.4006 0.3804 0.3687 -3.1 -8.0

Euro 57.0094 60.0029 62.5293 4.2 9.7

SDR 72.0188 73.3192 75.5067 3.0 4.8

Source: NBE Staff Compilation

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5.7.2. Movements in the Real Effective Exchange Rate

During the second quarter of the FY On the other hand, NEERI has appreciated
2023/24, REER depreciated by 9.5 percent by 6.9 percent on annual basis due to
as result of lower domestic inflation relative weakening of trading partner’s currencies
to that of trading partners against US dollar, particularly Turkish Lira
(53.2 percent), Egyptian Pound (33.6
percent) and Israel Shekel (9.2 percent)
(Table 5.15).

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Table 5.15: Trends in the Real and Nominal Effective Exchange Rates

2022/23 2023/24
Percentage Change
Item QII QI QII
A B C C/B C/A
REERI 126.9 114.7 114.8 0.1 -9.5
NEERI 78.9 84.3 84.3 0.0 6.9
Source: NBE Staff Compilation
NB:

- REERI = Real Effective Exchange Rate Index, NEERI = Nominal Effective Exchange Rate Index
- A decrease in the REERI and NEERI implies depreciation and vice versa.
- Sudan inflation for QII 2023/24 is estimate

Fig.V.12: Movements in the Real and Nominal Effective Exchange Rate

250

200

150

100 REERI NEERI

50

0
QIII

QIII

QIII
QI
QII

QII
QIII

QII
QIII
QIV
QI

QIV
QI
QII

QIV
QI
QII
QIII
QIV
QI

QIV
QI
QII

QII
QIII
QIV
QI

QIV
QI
QII
2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24

Source: NBE Staff Compilation

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5.7.3. Volume of Transactions

The volume of foreign exchange traded in supplied exclusively by the National Bank
the inter-bank foreign exchange market of Ethiopia with a view to collect an
during the second quarter of the FY 2023/24 indicative rate in the foreign exchange inter-
reached USD 3.3 million which remained bank market (Table 5:10 & fig. v.13).
unchanged compared with last year same
quarter. All the foreign exchange was

Fig.V.13: Foreign Exchange Trade in the Interbank Foreign Exchange Market

3.5
3.0
2.5
(In Mn USD)

2.0
1.5
1.0
0.5
0.0
QII
QIII

QII
QIII

QII
QIII

QII
QIII

QII
QIII

QII
QIII

QII
QIII
QIV

QIV

QIV

QIV

QIV

QIV

QIV

QII
QI

QI

QI

QI

QI

QI

QI

QI
2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24
Total Amount Traded Amount Traded among CBs

Source: NBE Staff Compilation

In the same period, forex bureaus of

commercial banks purchased USD 50.2
million and sold USD 59.5 million. Hence,
the amount of forex purchased rose 4.3
percent, while the amount sold declined (2.1
percent) (Table 5.11).

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VI. FEDERAL GOVERNMENT FINANCE

Total revenue and grants of the federal showed 8.4 percent yearly growth. The
government was Birr 139.6 billion and performance was 25.5 percent against the
depicted 26.4 percent annual growth during annual plan.
the second quarter of 2023/24. Its
Consequently, the fiscal balance (including
performance was 28.7 percent of the annual
grants) was Birr 40.4 billion deficits (Table
plan (Table 6.1).
6.1).
Similarly, Federal government expenditure

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Table 6.1: Summary of Quarterly Federal Government Finance [In millions of Birr]

performance
2022/23 2023/24 Percentage changes rate

QII QI Budget QII

No Finer points A B C D D/A D/B D/C

1 Revenue and Grants 110,459.4 100,068.9 485,836.2 139,617.0 26.4 39.5 28.7

1.1 Total Revenue 110,459.4 100,068.9 479,486.8 139,617.0 26.4 39.5 29.1
Tax Revenue 105,222.1 95,125.1 440,825.7 132,605.7 26.0 39.4 30.1

Direct tax 44,450.1 25,850.8 141,481.5 61,655.4 38.7 138.5 43.6

Indirect tax 60,772.1 69,274.3 299,344.2 70,950.3 16.7 2.4 23.7

Non-Tax Revenue 5,237.3 4,943.7 38,661.1 7,011.3 33.9 41.8 18.1
1.2 Grant & Relief - - 6,349.4 - -
2 Current Expenditure 80,585.1 62,295.9 316,406.5 69,079.3 (14.3) 10.9 21.8
3 Current Surplus/Deficit

(Including Grants) 29,874.3 37,772.9 169,429.7 70,537.7 136.1 86.7 41.6

(Excluding Grants) 29,874.3 37,772.9 163,080.3 70,537.7 136.1 86.7 43.3

4 Capital Expenditure 50,239.0 26,370.9 171,833.7 55,932.6 11.3 112.1 32.6

5 Regional Transfers 35,217.1 52,641.5 219,041.0 55,053.2 56.3 4.6 25.1

6 Total Expenditure 166,041.2 141,308.3 707,281.2 180,065.1 8.4 27.4 25.5

7 Overall Surplus/Deficit

(Including Grants) (55,581.8) (41,239.5) (221,445.0) (40,448.0) (27.2) (1.9) 18.3

(Excluding Grants) (55,581.8) (41,239.5) (227,794.4) (40,448.0) (27.2) (1.9) 17.8

8 Total Financing 55,581.8 41,239.5 221,445.0 40,448.0 (27.2) (1.9) 18.3

8.1 Net External Borrowings 2,864.3 3,696.1 (17,248.4) 16,377.8 471.8 343.1 (95.0)

External Borrowing 9,054.0 6,259.2 25,699.3 21,284.0 135.1 240.0 82.8

Amortization 6,189.6 2,563.1 50,384.0 4,906.3 (20.7) 91.4 9.7

8.2 Net Domestic Borrowings 69,425.3 64,062.7 238,693.4 28,042.2 (59.6) (56.2) 11.7

Banking System 55,078.3 38,433.9 11,067.4 (79.9) (71.2) -

Non-Bank Sources 14,347.0 25,628.8 16,974.8 18.3 (33.8) -

8.3 Privatization receipts

8.4 Others and Residuals (16,707.8) (26,519.3) (0.0) (3,971.9) (76.2) (85.0)
Source: Ministry of Finance

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6.1. Revenue and Grants

Total revenue (excluding grants) during the

second quarter of the current fiscal year
reached Birr 139.6 billion. There were no
grants during the review period. Of the total
domestic revenue, Birr 86.9 billion (95.0
percent) was from taxes and Birr 7.0 billion
(5.0 percent) from non-tax sources. The
quarterly performance of total revenue was
28.7 percent of the annual plan (Table 6.2).

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Table 6.2: Summary of Federal Government Revenue by Component

(In Millions of Birr)

Percentage Performance
2022/23 2023/24 Change Rate
Particulars
QII QI Budget QII
No A B C D D/A D/B D/C
Total Revenue and
Grants 110,459.4 100,068.9 485,836.2 139,617.0 26.4 39.5 28.7

Total Domestic Revenue 110,459.4 100,068.9 479,486.8 139,617.0 26.4 39.5 29.1

1 Tax Revenue 105,222.1 95,125.1 440,825.7 132,605.7 26.0 39.4 30.1

1.1 Direct Tax Revenue 44,450.1 25,850.8 141,481.5 61,655.4 38.7 138.5 43.6

1.1.1 Income Taxes 43,373.2 22,691.0 118,955.7 58,767.0 35.5 159.0 49.4

- Personal 8,181.6 8,188.9 29,853.4 9,635.6 17.8 17.7 32.3

- Business 35,191.6 14,502.1 89,102.3 49,131.4 39.6 238.8 55.1

1.1.2 Others1 1,076.9 3,159.8 22,525.7 2,888.4 168.2 (8.6) 12.8

1.2 Indirect Taxes 60,772.1 69,274.3 299,344.2 70,950.3 16.7 2.4 23.7

1.2.1 Domestic Taxes 17,539.4 22,694.6 111,755.5 27,452.1 56.5 21.0 24.6

1.2.2 Foreign Trade Taxes 43,232.6 46,579.8 187,588.7 43,498.2 0.6 (6.6) 23.2

- Import 43,232.6 46,579.8 187,588.7 43,498.2 0.6 (6.6) 23.2

2 Non-Tax Revenue 5,237.3 4,943.7 38,661.1 7,011.3 33.9 41.8 18.1

3 Privatization - - - - - -

4 Grants and Relief - - 6,349.4 - - - -

Source ministry of finance
1
includes Withholding tax on import, tax on dividend, royalty and interest income

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Fig.VI.1: Quarterly Developments in Major Components of Domestic Revenue of the Federal

Government

120000

100000

80000
(In Millions of Birr)

60000

40000

20000

0
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2018/19 2019/20 2020/21 2021/22 2022/23 2023/24

Total Domestic Revenue Tax Revenue Direct Tax Revenue Indirect Taxes Non -Tax Revenue

Indirect taxes accounted for 53.3 percent trade taxes. Direct tax surged by about
of total tax revenue. Revenue from 38.7 percent compared to last year same
indirect taxes went up by 16.7 percent period stood at Birr 61.66 billion.
compared to a year ago. About 61.3
percent of indirect tax was on foreign

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Fig.VI.2: Domestic Revenue of federal government by Major Components during the Second Quarter of
2023/24

Non-Tax Revenue
5.0
Direct Tax Revenue
44.2

Indirect Taxes
50.8

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6.2 Expenditure
Total Federal government expenditure Looking at the structure of expenditure,
(including regional transfers) reached current expenditure with Birr 69.0
Birr 180.0 billion under the review billion accounted for 38.4 percent of the
period showing a 8.4 percent annual and total expenditure while capital
27.4 percent quarterly growth. expenditure at Birr 55.9 billion
(constituted 31.0 percent). The
The growth in annual expenditure was
remaining Birr 55.0 billion or 30.6
attributed to higher capital expenditure
percent was regional transfer (Table
and regional transfers.
6.3).

Tale 6.3: Summary of Federal Government Expenditure by components

(In Millions of Birr)
Percentage Performance
2022/23 2023/24 Change Rate
QII QI Budget QII
No Particulars A B C D D/A D/B D/C
Total Expenditure 166,041.2 141,308.3 707,281.2 180,065.1 8.4 27.4 25.5
1 Current Expenditure 80,585.1 62,295.9 316,406.5 69,079.3 (14.3) 10.9 21.8
- General Services 29,737.5 26,728.2 80,613.3 28,848.8 (3.0) 7.9 35.8
- Economic Services 2,591.1 1,771.1 6,896.8 2,110.6 (18.5) 19.2 30.6
- Social Services 13,919.4 21,162.2 54,236.1 10,742.9 (22.8) (49.2) 19.8
- Others expenditure 16,274.1 602.2 69,190.2 10,139.9 (37.7) 1,583.9 14.7
- Debt Service 18,063.0 12,032.3 105,470.0 17,237.1 (4.6) 43.3 16.3
2 Capital Expenditure 50,239.0 26,370.9 171,833.7 55,932.6 11.3 112.1 32.6
- Economic Development 32,908.7 18,080.5 116,015.6 36,306.9 10.3 100.8 31.3
- Social Development 15,103.1 6,860.0 24,403.5 12,550.8 (16.9) 83.0 51.4
- General Development 2,227.2 1,430.4 31,414.6 7,074.8 217.7 394.6 22.5

3 Regional Transfers 35,217.1 52,641.5 219,041.0 55,053.2 56.3 4.6 25.1

Source: Ministry of Finance

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Fig.VI.3: Major Components of Federal Governments Expenditure during the Second Quarter of
2023/24

Regional Transfer Current

30.6% Expenditure
38.4%

Capital
Expenditure
31.0%

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Fig.VI.4: Quarterly Development in Federal Government Expenditure by Components Second

Quarter of 2023/24
200000

180000

160000

140000

120000

100000
(In Millions of Birr)

80000

60000

40000

20000

2018/19 2019/20 2020/21 2021/22 2022/23 2023/24

Quarters/Years
Total Expenditure Current Expenditure Capital Expenditure Regional Transfers

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6.3. Deficit Financing

The Federal government budget operation
resulted in overall deficit (including grant)
of Birr 40.4 billion, which was lower than
Birr 55.5 billion deficit a year ago. The
deficit was financed from net external and
domestic borrowing.

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Fig.VI.5: Federal Government Finance during Second Quarter of F.Y 2023/24

250000
200000
150000
(In Millions of Birr)

100000
50000
0
-50000
2018/19 2019/20 2020/21 2021/22 2022/23 2023/24

Quarters/Years
Expenditure Deficit Revenue Including Grants

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VII. DEVELOPMENTS IN INVESTMENT

During the second quarter of 2023/24, 12 investment projects was Birr 61 million or
investment projects having investment 7.2 percent. There was no public investment
capital of Birr 846.7 million became projects reported during the period under
operational. Compared to last year same review.
quarter, the number of investment projects These investment projects have generated
and investment capital slowed down by 25 employment opportunities for 1,034
and 70.6 percent respectively. employees which was 64.3 percent lower
than the same quarter of last year. Of the
Virtually, all investment projects were total employment created during the period,
private, of which 50 percent were domestic 82.4 percent was permanent and 17.6
and 50 percent foreign. Domestic investment percent casual (Table 7.1).
projects had investment capital of Birr 785.7
million or 92.8 percent while that of foreign

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Table 7.1: Performance of Operational Investment Projects

Capital (In millions of Birr)
2022/23 2023/24
Type of QII QI QII Percentage Changes
Projects Items A B C Share C/A C/B

Number of projects 16 19 12 100 -25.0 -36.8

1. Total Capital 2,879.6 1,677.2 846.7 100 -70.6 -49.5

Investment
Permanent Employment 438 1567 852 100 94.5 -45.6

Temporary Employment 2461 639 182 100 -92.6 -71.5

Number of projects 16 19 12 100 -25.0 -36.8

2. Private Capital 2,879.6 1,677.2 846.7 100 -70.6 -49.5

Investment
Permanent Employment 438 1567 852 100 94.5 -45.6
Temporary Employment 2461 639 182 100 -92.6 -71.5
Number of projects 9 4 6 50.0 -33.3 50.0
2.1 Domestic Capital 2,179.2 267.6 785.7 92.8 -63.9 193.7
Investment Permanent Employment 223 46 5.4 -79.4 0.0
Temporary Employment 2377 11 6.0 -99.5 0.0
Number of projects 7 15 6 50.0 -14.3 -60.0
2.2. Foreign
Investment Capital 700.4 1,409.6 61.0 7.2 -91.3 -95.7
Permanent Employment 215 1567 806 94.6 274.9 -48.6

Temporary Employment 84 639 171 94.0 103.6 -73.2

Number of projects - - - - - -
3. Public Capital - - - - - -
Investment
Permanent Employment - - - - - -
Temporary Employment - - - - - -
Source: Ethiopian Investment Commission.

As for sectoral distribution, manufacturing Birr 846.7 million capital invested,

and real estate, renting and business manufacturing received 62.8 percent, hotels
activities constituted the largest share by and restaurants 17.4 percent, health and
accounting 33.3 percent each of total social work 13.9 percent, real estate, renting
investment projects while that of and business activities 5 percent and the
construction, health & social work, hotels & remaining 0.8 percent constituted by
restaurants, and other* sector on their parts construction and others* sectors.
constitute 8.3 percent each. Out of the total

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About 75.6 percent of the permanent by accounting 80.2 percent of temporary

employment was created by manufacturing, employment followed by manufacturing
22.5 percent by real estate, renting and (15.4 percent), others* (2.7 percent) and
business activities, 1.6 percent by other* health and social work (1.6 percent) (Table
sectors and 0.2 percent by health and social 7.2).
work. On the other hand, real estate, renting
and business activities are the leading sector

Table 7.2: Investment Distribution by Sector during the Second Quarter of 2023/24
Sectors No. of Share Capital (in Share Perm. Share Temp. Share
Proj. (%) Million Birr) (%) Emp. (%) Emp. (%)

Agriculture, hunting
and forestry - - - - - - - -
Construction 1 8.3 2.0 0.2 0
Education - - - - - - - -
Electricity, gas, steam
and water supply - - - - - - - -
Health and social work 1 8.3 118.0 13.9 2 0.2 3 1.6
Hotels and restaurants 1 8.3 147.2 17.4 0 - - -
Manufacturing
4 33.3 531.4 62.8 644 75.6 28 15.4
Mining and quarrying - - - - - - - -
Other community,
social and personal
service activities - - - - - - - -
Real estate, renting
and business activities 4 33.3 42.6 5.0 192 22.5 146 80.2
Tour operation,
transport, and
communication - - - - - - - -
Wholesale, retail trade
& repair service - - - - - - - -
Others* 1 8.3 5.5 0.6 14 1.6 5 2.7
Grand Total
12 100 846.7 100 852 100 182 100
Source: Ethiopian Investment Commission.
*Export of flowers, spices, cotton and cotton product, clay spots, wooden handicrafts, souvenirs and flower baskets,
data center services.

87 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

In terms of regional distribution, Addis multiregional projects accounted for 94.6

Ababa account about 50 percent of the total and 94 percent of the total permanent and
projects with 92.8 percent of total temporary employments respectively while
investment capital while multiregional Addis Ababa on its part constituted 5.4 and
projects constitute 50 percent of the total 6 percent of total permanent and temporary
projects with 7.2 percent of total investment employment respectively (Table 7.3).
capital. In terms of job creation

88 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

Table 7.3: Performance of Operational Investment Projects by Region

2022/23 2023/24 Growth Rate

QII QI QII
C/A C/B
A B C Share in (%)
Region
No of Proj

No of Proj

No of Proj

No of Proj

No of Proj

No of Proj
Temp emp

Temp emp

Temp emp

Temp emp

Temp emp

Temp emp
Perm emp

Perm emp

Perm emp

Perm emp

Perm emp

Perm emp
Capital.

Capital.
Capital

Capital

Capital

Capital
Addis Ababa 9 2,179 223 2,377 4 267.6 - - 6 785.7 46 11 50.0 92.8 5.4 6.0 -33.3 -63.9 -79.4 -99.5 50.0 193.7 - -

Afar - - - - - - - - - - - - - - - - - - - - - - - -

Amhara - - - - - - - - - - - - - - - - - - - - - - - -

B.Gumuz - - - - - - - - - - - - - - - - - - - - - - - -
Dire Dawa - - - - - - - - - - - - - - - - - - - - - - - -

Oromia - - - - - - - - - - - - - - - - - - - - - - - -

SNNPR - - - - - - - - - - - - - - - - - - - - - - - -

Gamb - - - - - - - - - - - - - - - - - - - - - - - -

Somali - - - - - - - - - - - - - - - - - - - - - - - -

Harari - - - - - - - - - - - - - - - - - - - - - - - -

Tigray - - - - - - - - - - - - - - - - - - - - - - - -
Multi-
regional 7 700 215 84 15 1409.6 1567 639 6 61.0 806 171 50.0 7.2 94.6 94.0 -14.3 -91.3 274.9 103.6 -60.0 -95.7 -48.6 -73.2

Grand
Total 16 2,880 438 2,461 19 1,677 1,567 639 12 846.7 852 182 100 100 100 100 (25.0) (70.6) 94.5 (92.6) (36.8 (49.5) (45.6) (71.5)
Source: Ethiopian Investment Commission

89 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

VIII. INTERNATIONAL ECONOMIC DEVELOPMENTS

8.1. Overview of the World Economy4 downwardly revised 0.8 percent in the first
quarter. This outcome reflects weakness in
Global economic growth moderated during
domestic demand which was relatively
the second quarter of the FY 2023/24, as
broad-based.
monetary policy tightening transmitted to
the world economy. Growth in global real In China, recent activity indicators provide
GDP is estimated to have slowed to 0.8 mixed signals amid an ongoing adjustment
percent in the second quarter, down from 1.0 in the residential property market. While
percent in the first quarter of the FY industrial production growth increased
2023/24. The global composite output slightly to 6.5 percent in annual terms in
Purchasing Managers’ Index (PMI) points to December.
a decline in the rate of real GDP growth in
the reporting period.

In the United States, growth remains robust.

High frequency indicators, such as consumer
confidence and retail sales showed strong
performance in the second quarter of
2023/24.

In the United Kingdom, economic activity

declined again in the second quarter. Real
GDP growth surprised to the downside in
the second quarter, standing at -0.3 percent,
down from -0.1 percent in the first quarter.

In Japan, real GDP unexpectedly declined in

the second quarter of 2023/24. Economic
activity fell again in the second quarter, by
0.1 percent, after contracting by a

4
Sections 8.1 - 8.3 are excerpted from European Central
Bank monthly bulletin of 6-7/2023.Bulletin Issue 1-2/ 2024

90 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

8.2. Inflation Developments services inflation continued to move back,

albeit slowly.
In December 2023 core inflation across
member countries of the Organisation for
In the United Kingdom, headline CPI
Economic Co-operation and Development
inflation surprised mildly on the upside in
(OECD) continued to decline. Annual
December, rising by 0.1 percentage points
headline consumer price index (CPI)
year on year, up to 4.0 percent, having fallen
inflation across OECD member countries
sharply in previous months. Inflation is
excluding Türkiye decreased to 3.4 percent
expected to continue to decline in the
in November, down from 3.6 percent in
months ahead, albeit more slowly, as
October, owing to some easing in food price
pressures stemming from still elevated wage
inflation. Core inflation (headline inflation
growth are expected to persist, reflecting
excluding food and energy) also declined in
continued tightness in the labour market.
November, falling 0.2 percentage points to
4.1 percent, but remains elevated. The PMI
In the Japan, headline consumer price
input and output price indices, which have
inflation slowed in December to 2.6 percent,
strong leading indicator properties for global
down from 2.8 percent in the previous
core goods and services inflation, point to
month. At the same time, core inflation
core services inflation continuing to be
picked up slightly by 0.1 percentage points,
persistent and slow to return to its long-term
to reach 2.8 percent in December, signalling
average. This partly reflects easing, albeit
persistent underlying price pressures.
still tight, labour markets.

In the China, annual headline CPI inflation

In the United State, in December 2023 US
rates remained in negative territory in the
headline CPI inflation rose by 0.3
second quarter, with prices falling by 0.3
percentage points, up to 3.4 percent, as the
percent in December, owing primarily to
contribution of energy prices became less
lower food prices. By contrast, annual core
negative. Core inflation fell by 0.1
inflation remained positive at 0.6 percent in
percentage points to 3.9 percent, as core
the same month.

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 National Bank of Ethiopia Quarterly Bulletin

8.3. Commodity Price

Developments in energy commodity prices prices have increased by 1 percent, driven

have been mixed since the Governing mainly by higher prices for tin, lead and
Council’s meeting in December 2023, amid aluminium. Some volatility was seen in
higher oil prices and lower gas prices. Oil aluminium prices owing to worries about
prices in US dollars raised by 10.4 percent growing tightness in the aluminium market
amid concerns that attacks on ships in the as the UK government imposed sanctions on
Red Sea could affect shipments of oil Russian metals trading, and an explosion at
through the Suez Canal, which serves as a a fuel depot in Guinea in December raised
key passage for global oil traded by sea. fears of a bauxite shortage that could affect
aluminium production in China. Food
Non-energy commodity prices have been
commodity prices have declined by 1.7
stable amid slightly higher metal prices, but
percent on the back of falling soybean and
lower food prices. Since the December
grain prices.
meeting of the Governing Council, metal

8.4. Exchange Rate Developments

In foreign exchange markets, the euro expectations for lower US rates were partly
appreciated slightly in trade-weighted terms. dialled back from the start of the year
The nominal effective exchange rate of the following the Federal Open Market
euro as measured against the currencies of Committee meeting in December 2023. In
41 of the euro area’s most important trading terms of bilateral exchange rate movements
partners appreciated by 0.4 percent over the against other major currencies, the euro
review period. Expected monetary policy appreciated against the Turkish lira (by 3.9
developments remained a major driver of percent) and the Japanese yen (by 3.7
exchange rate fluctuations and generated percent), while it depreciated against the
some volatility. That said, the euro was Swiss franc (by 0.8 percent) and the Pound
fairly stable against the US dollar, sterling (by 0.5 percent).
depreciating by only 0.1 percent as

92 | Second Quarter 2023/24

 National Bank of Ethiopia Quarterly Bulletin

8.5. Impact of Global Economic Development on Ethiopian Economy

Global economic growth is moderating in

the second quarter of 2023/24, while annual
headline consumer price index (CPI)
inflation across OECD member countries
excluding Türkiye decreased in November
compare to October, owing to some easing
in food price inflation. On the other hand,
higher oil price while non-energy
commodity prices have been stable.

This decline in price of food items played its

own role for inadequate performance of the
Ethiopia’s export sector. Moreover, the high
oil price had negative effect for Ethiopia in
raising its forex payment for fuel import
which partly explaining the widening of the
merchandise trade deficit observed in
Ethiopia’s current account balance during
the reporting period.

93 | Second Quarter 2023/24

STATISTICAL ANNEXES
Table 1(a): Statement of Condition of National Bank of Ethipia:
Assets (In Millions of Birr)
Foreign Assets Claims on Government
End of Advance Silver Other
Period Reserve Foreign Direct
Total Gold Others Total Bond Others to DBE Coins Assets
Tranche Exchange Advance
2022/23 Qtr.I 64,408.6 32.7 726.0 55,744.7 7,905.1 416,991.5 197,491.5 219,500.0 0.0 44,822.7 0.0 163,805.3
July 65,152.1 1,039.7 748.2 55,325.5 8,038.7 397,427.1 197,927.1 199,500.0 0.0 44,822.7 0.0 164,150.2
August 65,676.2 32.7 744.3 57,046.3 7,852.9 396,991.5 197,491.5 199,500.0 0.0 44,822.7 0.0 163,597.1
September 64,408.6 32.7 726.0 55,744.7 7,905.1 416,991.5 197,491.5 219,500.0 0.0 44,822.7 0.0 163,805.3
Qtr.II 62,948.1 2.2 780.9 56,164.2 6,000.8 473,991.5 433,991.5 40,000.0 0.0 44,822.7 0.0 161,398.3
October 62,910.8 777.2 743.6 53,077.9 8,312.2 443,991.5 433,991.5 10,000.0 0.0 44,822.7 0.0 161,566.3
November 63,456.5 8.1 761.2 57,170.3 5,516.9 463,991.5 433,991.5 30,000.0 0.0 44,822.7 0.0 157,703.8
December 62,948.1 2.2 780.9 56,164.2 6,000.8 473,991.5 433,991.5 40,000.0 0.0 44,822.7 0.0 161,398.3
Qtr.III 48,984.7 43.7 789.9 44,826.2 3,325.0 513,991.5 433,991.5 80,000.0 0.0 44,822.7 0.0 173,214.8
January 65,641.5 25.3 787.3 58,213.2 6,615.8 493,991.5 433,991.5 60,000.0 0.0 44,822.7 0.0 163,231.0
February 63,155.7 38.8 777.6 56,328.4 6,010.8 503,991.5 433,991.5 70,000.0 0.0 44,822.7 0.0 168,808.3
March 48,984.7 43.7 789.9 44,826.2 3,325.0 513,991.5 433,991.5 80,000.0 0.0 44,822.7 0.0 173,214.8
Qtr.IV 56,154.3 129.2 795.0 51,803.0 3,427.2 563,991.5 433,991.5 130,000.0 0.0 44,822.7 0.0 162,596.3
April 49,221.1 572.9 797.7 43,841.0 4,009.6 533,991.5 433,991.5 100,000.0 0.0 44,822.7 0.0 165,718.0
May 57,379.3 166.5 785.6 53,130.9 3,296.4 543,991.5 433,991.5 110,000.0 0.0 44,822.7 0.0 169,602.8
June 56,154.3 129.2 795.0 51,803.0 3,427.2 563,991.5 433,991.5 130,000.0 0.0 44,822.7 0.0 162,596.3
2023/24 Qtr.I 27,100.6 730.6 791.7 22,146.4 3,431.9 580,120.4 433,120.4 147,000.0 0.0 44,822.7 0.0 166,980.1
July 37,921.9 143.6 804.9 32,776.2 4,197.1 573,120.4 433,120.4 140,000.0 0.0 44,822.7 0.0 161,970.1
August 30,839.0 144.1 796.1 26,499.1 3,399.7 580,120.4 433,120.4 147,000.0 0.0 44,822.7 0.0 161,723.9
September 27,100.6 730.6 791.7 22,146.4 3,431.9 580,120.4 433,120.4 147,000.0 0.0 44,822.7 0.0 166,980.1
QII 113,504.5 627.2 818.7 108,516.7 3,541.8 600,120.4 433,120.4 167,000.0 0.0 42,322.7 0.0 169,473.1
October 128,456.2 28.8 792.8 123,400.5 4,234.1 580,120.4 433,120.4 147,000.0 0.0 44,822.7 0.0 162,081.6
November 111,216.2 188.5 809.4 106,775.6 3,442.7 590,120.4 433,120.4 157,000.0 0.0 42,322.7 0.0 172,391.9
December 113,504.5 627.2 818.7 108,516.7 3,541.8 600,120.4 433,120.4 167,000.0 0.0 42,322.7 0.0 169,473.1
Table 1(b): Statement of Condition of National Bank of Ethipia:
Liabilities (In Millions of Birr)

Total Currency Deposits Foreign Liabilities

End of Capital Other
Liab.= (Notes
Period Fund Account Liab.
Assets + Coins) Total Gov't Banker Total Others
Credit
2022/23 Qtr.I 690,028.13 207,614.79 215,401.88 48,571.29 166,830.59 219,918.06 12,569.76 207,348.30 4,389.91 42,703.50
July 671,552.14 206,426.87 203,094.01 39,751.92 163,342.10 216,349.04 12,843.22 203,505.82 4,389.91 41,292.31
August 671,087.54 200,685.59 206,636.08 29,922.58 176,713.50 219,176.85 12,794.66 206,382.19 4,389.91 40,199.11
September 690,028.13 207,614.79 215,401.88 48,571.29 166,830.59 219,918.06 12,569.76 207,348.30 4,389.91 42,703.50
Qtr.II 743,160.62 235,833.63 225,334.80 40,798.80 184,536.00 235,296.22 13,246.02 222,050.20 4,830.82 41,865.15
October 713,291.36 209,958.64 236,108.79 59,156.84 176,951.95 219,777.94 12,785.73 206,992.21 4,389.91 43,056.08
November 729,974.49 221,907.10 234,505.06 43,583.44 190,921.62 223,458.22 13,002.98 210,455.24 4,830.82 45,273.29
December 743,160.62 235,833.63 225,334.80 40,798.80 184,536.00 235,296.22 13,246.02 222,050.20 4,830.82 41,865.15
Qtr.III 781,013.84 258,331.60 234,682.34 44,121.49 190,560.85 234,984.60 13,356.48 221,628.12 4,830.82 48,184.47
January 767,686.77 247,929.23 231,275.46 45,869.39 185,406.07 239,029.99 13,324.58 225,705.41 4,830.82 44,621.27
February 780,778.33 253,774.35 230,632.32 62,006.82 168,625.50 244,281.94 13,205.92 231,076.02 4,830.82 47,258.91
March 781,013.84 258,331.60 234,682.34 44,121.49 190,560.85 234,984.60 13,356.48 221,628.12 4,830.82 48,184.47
QIV 827,564.90 254,316.05 266,847.22 42,691.56 224,155.66 247,577.45 13,419.79 234,157.66 4,830.82 53,993.35
April 793,753.42 269,451.04 230,650.83 50,711.81 179,939.03 239,472.44 13,452.70 226,019.74 4,830.82 49,348.29
May 815,796.33 259,711.46 250,742.68 52,806.30 197,936.38 245,944.85 13,304.26 232,640.59 4,830.82 54,566.52
June 827,564.90 254,316.05 266,847.22 42,691.56 224,155.66 247,577.45 13,419.79 234,157.66 4,830.82 53,993.35
2023/24 Qtr.I 819,023.79 245,315.14 257,074.12 59,099.09 197,975.03 253,530.32 13,378.99 240,151.33 4,830.82 58,273.39
July 817,835.15 250,442.05 264,324.54 53,124.06 211,200.48 242,398.22 13,542.40 228,855.82 4,830.82 55,839.52
August 817,506.04 241,058.04 265,771.05 51,034.83 214,736.22 249,093.67 13,433.34 235,660.33 4,830.82 56,752.47
September 819,023.79 245,315.14 257,074.12 59,099.09 197,975.03 253,530.32 13,378.99 240,151.33 4,830.82 58,273.39
QII 925,420.74 254,152.67 236,960.68 42,609.04 194,351.63 371,129.65 13,712.14 357,417.51 4,830.82 58,346.92
October 915,480.94 239,233.38 239,184.22 64,898.44 174,285.78 372,777.64 13,392.58 359,385.07 4,830.82 59,454.87
November 916,051.18 243,788.50 236,438.74 47,781.81 188,656.93 371,182.82 13,597.26 357,585.56 4,830.82 59,810.31
December 925,420.74 254,152.67 236,960.68 42,609.04 194,351.63 371,129.65 13,712.14 357,417.51 4,830.82 58,346.92
Table 2(a): Statement of Condition of Commercial Banks:
Assets
(In Millions of Birr)
Reserves Foreign Claims Total
Deposits Assets On Gov't Claims on Non-Central Gov't Other
Total Cash in Loans & Invest- Commercial Assets
End of with
Hand Adv. ment Banks
Period NBE
(2+3) (7+8+9)
1 2 3 4 5 6 7 8 9 10
2022/23 QI 208830.0 39088.3 169741.7 75823.9 193191.5 1554554.0 998971.4 519483.2 36099.5 477130.1
July 203201.4 36173.2 167028.2 62201.0 189596.8 1502214.3 958443.3 513542.5 30228.5 452786.1
August 210301.0 34669.7 175631.3 65216.2 192382.0 1519582.1 974906.6 513402.7 31272.8 529796.8
September 208830.0 39088.3 169741.7 75823.9 193191.5 1554554.0 998971.4 519483.2 36099.5 477130.1
QII 221911.4 35883.6 186027.9 73187.5 189712.8 1677302.6 1108587.3 533292.6 35422.7 481804.4
October 211300.8 39544.0 171756.7 71093.3 184217.9 1598573.3 1038837.3 524946.2 34789.8 483649.7
November 229064.6 38113.0 190951.6 70417.0 175226.4 1627096.4 1070428.8 525999.3 30668.3 479570.3
December 221911.4 35883.6 186027.9 73187.5 189712.8 1677302.6 1108587.3 533292.6 35422.7 481804.4
QIII 237841.3 43043.0 194798.3 63462.1 183196.8 1748913.9 1167755.7 545454.3 35704.0 509569.6
January 228297.5 42098.3 186199.1 71608.4 192953.2 1685183.5 1119382.0 532337.2 33464.3 507779.3
February 216253.0 42855.1 173397.9 60412.1 192573.7 1717093.1 1136959.5 545863.2 34270.4 510295.7
March 237841.3 43043.0 194798.3 63462.1 183196.8 1748913.9 1167755.7 545454.3 35704.0 509569.6
QIV 266011.2 44173.5 221837.7 74213.2 204362.1 1827480.8 1195992.2 593345.6 38143.0 494029.5
April 226142.2 43996.6 182145.6 73563.6 184917.6 1749261.7 1172304.3 544242.5 32714.9 511983.7
May 236964.5 44361.3 192603.2 71212.6 187729.0 1750804.6 1178641.3 538618.6 33544.7 531036.9
June 266011.2 44173.5 221837.7 74213.2 204362.1 1827480.8 1195992.2 593345.6 38143.0 494029.5
2023/24 QI 246478.7 46585.6 199893.0 55343.2 228852.7 1887071.5 1268551.0 574926.6 43593.8 560394.1
July 257216.0 46450.7 210765.4 69241.4 216308.4 1859345.0 1236222.7 578584.9 44537.4 518550.1
August 257925.9 42671.2 215254.8 59143.1 222578.1 1875537.4 1253955.0 578647.0 42935.4 557458.7
September 246478.7 46585.6 199893.0 55343.2 228852.7 1887071.5 1268551.0 574926.6 43593.8 560394.1
QII 237396.3 43414.6 193981.7 61645.0 219930.2 1973681.4 1332795.5 591232.2 49653.6 613509.2
October 219565.2 45358.0 174207.2 57977.2 220328.9 1901734.0 1282531.6 573646.8 45555.5 561826.9
November 240515.0 44920.6 195594.4 66307.2 214625.3 1915067.0 1296432.5 573163.6 45471.0 601363.4
December 237396.3 43414.6 193981.7 61645.0 219930.2 1973681.4 1332795.5 591232.2 49653.6 613509.2
Table 2(b): Statement of Condition of Commercial Banks:
Liabilities
(In Millions of Birr)
Total Non-Central Gov't Deposits Capital Account
(Liab.= Gov't Foreign Other
End of Assets) Depos. Liab. Legal Liab.
Total Demand Time Saving Total Capital Others
Period Reserve
(3+4+5) (9+10+11)
1 2 3 4 5 6 7 8 9 10 11 12
2022/23 QI 2509609.6 1629988.4 427123.7 118190.3 1084674.4 110362.7 41086.3 244300.4 132259.8 34557.8 77,482.8 483871.9
July 2408949.9 1555553.0 413489.9 113173.1 1028889.9 98870.2 39931.9 236042.0 129825.4 34450.7 71,765.9 478552.8
August 2516843.7 1586649.1 413649.6 116003.3 1056996.3 110024.2 41790.9 240688.4 130564.0 34454.9 75,669.5 537691.1
September 2509609.6 1629988.4 427123.7 118190.3 1084674.4 110362.7 41086.3 244300.4 132259.8 34557.8 77,482.8 483871.9
QII 2644193.3 1745608.0 444210.1 125746.8 1175651.2 148937.7 40862.8 242852.9 139347.5 39262.0 64,243.4 465931.9
October 2549024.2 1659692.7 434118.5 119822.0 1105752.3 127673.6 40655.1 246159.0 131909.1 35473.3 78,776.6 474843.7
November 2581703.6 1683543.3 428546.6 120046.9 1134949.8 151582.6 40740.9 241313.6 134393.0 38788.9 68,131.7 464523.3
December 2644193.3 1745608.0 444210.1 125746.8 1175651.2 148937.7 40862.8 242852.9 139347.5 39262.0 64,243.4 465931.9
QIII 2742922.1 1839212.3 468943.3 139043.6 1231225.4 138227.6 39043.8 262260.7 148684.9 39262.0 74,313.8 464177.7
January 2685814.7 1766334.0 443363.0 131695.1 1191275.9 147875.9 41389.3 250792.8 142250.6 39262.0 69,280.3 479422.7
February 2696811.6 1777099.0 441651.8 135482.9 1199964.4 145460.5 39232.9 256529.8 143870.8 39262.0 73,397.0 478489.4
March 2742922.1 1839212.3 468943.3 139043.6 1231225.4 138227.6 39043.8 262260.7 148684.9 39262.0 74,313.8 464177.7
QIV 2866975.1 1925617.9 494090.5 149218.6 1282308.8 151589.1 42887.7 261497.6 153210.8 43427.3 64,859.6 485382.7
April 2745368.4 1830998.5 455639.7 140289.2 1235069.7 144920.9 47626.5 267112.0 149466.5 39262.0 78,383.6 454710.4
May 2777677.2 1861478.2 469962.1 144921.0 1246595.1 134889.0 39717.0 251892.7 151752.1 43427.3 56,713.3 489700.3
June 2866975.1 1925617.9 494090.5 149218.6 1282308.8 151589.1 42887.7 261497.6 153210.8 43427.3 64,859.6 485382.7
2023/24 QI 2973999.9 2008851.5 495622.8 146964.4 1366264.3 141708.9 42343.5 270263.2 166890.7 45439.1 57933.4 510832.8
July 2917508.8 1958115.3 487447.2 144297.2 1326370.9 147938.6 41996.3 280778.3 164018.9 45905.5 70853.8 488680.3
August 2969860.6 1983993.2 487276.9 146927.2 1349789.0 151344.2 42083.1 286867.0 166199.6 45931.1 74736.3 505573.0
September 2973999.9 2008851.5 495622.8 146964.4 1366264.3 141708.9 42343.5 270263.2 166890.7 45439.1 57933.4 510832.8
QII 3101064.3 2097966.9 535267.9 165661.7 1397037.3 149431.2 42329.5 271127.7 179242.5 56049.7 35835.5 540208.9
October 2957145.7 2019447.1 492067.6 149601.9 1377777.6 139003.1 42068.4 268344.6 168117.9 46096.3 54130.4 488282.6
November 3033222.6 2035534.2 501460.3 155071.2 1379002.7 155695.7 44742.9 267740.0 173336.1 54883.0 39520.8 529509.9
December 3101064.3 2097966.9 535267.9 165661.7 1397037.3 149431.2 42329.5 271127.7 179242.5 56049.7 35835.5 540208.9
Table 3(a): Consolidated Statement of Condition of Development Bank of Ethipia:
Assets
(In Millions of Birr)
Claims on Non-Central Gov't
Claims
End of Cash Foreign Private Other
on Central Public Cooper-
Period & Banks Assets Total & Assets Total
Gov't Enterprise atives
Individuals Assets
2022/23 Qtr.I 12,296.0 3,617.4 54,028.6 47,331.8 4,120.6 273.8 42,937.4 19,466.8 136,740.6
July 9,721.3 3,121.4 53,772.0 44,119.0 5,595.6 270.0 38,253.4 23,594.8 134,328.4
August 10,832.1 5,194.5 53,900.3 46,753.6 5,627.5 276.2 40,849.8 21,124.0 137,804.6
September 12,296.0 3,617.4 54,028.6 47,331.8 4,120.6 273.8 42,937.4 19,466.8 136,740.6
Qtr.II 21,431.4 4,984.4 53,647.8 51,920.3 8,389.3 292.0 43,238.9 17,458.0 149,441.9
October 12,303.7 3,594.1 54,152.8 51,714.1 8,079.1 286.9 43,348.1 15,709.5 137,474.2
November 18,452.3 5,150.4 54,281.1 52,132.1 7,994.1 290.3 43,847.6 15,018.0 145,033.9
December 21,431.4 4,984.4 53,647.8 51,920.3 8,389.3 292.0 43,238.9 17,458.0 149,441.9
Qtr.III 29,037.2 4,048.4 54,022.6 48,051.8 4,144.8 276.6 43,630.4 24,473.1 159,633.1
January 23,694.4 4,579.5 53,776.1 53,727.3 4,139.1 340.9 49,247.4 17,466.0 153,243.3
February 27,203.1 3,964.6 53,906.7 48,522.4 4,126.7 276.8 44,118.9 20,717.1 154,313.9
March 29,037.2 4,048.4 54,022.6 48,051.8 4,144.8 276.6 43,630.4 24,473.1 159,633.1
Qtr.IV 29,215.4 3,311.4 54,420.0 56,235.6 0.0 211.5 56,024.2 21,745.8 164,928.3
April 29,481.1 5,139.1 54,146.8 53,650.7 4,164.2 276.6 49,209.9 18,395.4 160,813.1
May 29,268.9 4,408.8 54,271.0 51,293.9 0.0 271.2 51,022.7 21,579.5 160,822.0
June 29,215.4 3,311.4 54,420.0 56,235.6 0.0 211.5 56,024.2 21,745.8 164,928.3
2023/24 Qtr.I 32,673.4 2,871.3 53,987.3 62,302.1 0.0 164.2 62,137.9 17,215.9 169,050.0
July 30,717.6 3,149.5 53,589.5 61,930.4 0.0 247.4 61,683.0 18,604.1 167,991.2
August 32,607.8 2,917.8 53,589.5 58,742.2 0.0 163.9 58,578.2 19,542.1 167,399.4
September 32,673.4 2,871.3 53,987.3 62,302.1 0.0 164.2 62,137.9 17,215.9 169,050.0
Qtr.II 32,864.2 2,453.2 53,458.5 74,363.2 0.0 160.3 74,203.0 10,902.9 174,042.0
October 30,218.7 3,526.5 54,163.5 70,991.2 0.0 164.9 70,826.3 11,063.2 169,963.1
November 26,175.1 3,442.2 54,339.8 71,585.5 0.0 515.4 71,070.1 11,192.1 166,734.8
December 32,864.2 2,453.2 53,458.5 74,363.2 0.0 160.3 74,203.0 10,902.9 174,042.0
Table 3(b): Consolidated Statement of Condition of Development Bank of Ethiopia:
Liablities
(In Millions of Birr)

Total Time & Credit from Banks Credit Foreign Other

End of Demand Capital
Assets Savings from Advance Liability
Period Deposits Accounts
=Liab. Deposits Gov't & Loan Items
Total N.B.E Others
2022/23 Qrt.I 136,740.6 673.2 37.7 34,982.3 67,195.2 56,512.3 10,683.0 0.0 20,562.7 13,289.4
July 134,328.4 633.6 34.7 34,901.9 66,319.0 55,953.6 10,365.4 0.0 19,729.2 12,710.1
August 137,804.6 2,251.1 33.8 35,180.5 66,816.1 56,210.4 10,605.7 0.0 20,512.9 13,010.2
September 136,740.6 673.2 37.7 34,982.3 67,195.2 56,512.3 10,683.0 0.0 20,562.7 13,289.4
Qrt.II 149,441.9 883.3 43.7 35,618.5 74,787.8 56,510.9 18,276.9 0.0 23,958.5 14,150.2
October 137,474.2 1,061.6 47.0 35,134.9 67,182.1 56,345.4 10,836.7 0.0 20,938.8 13,109.8
November 145,033.9 930.9 40.5 35,414.8 71,095.6 56,301.2 14,794.4 0.0 22,779.5 14,772.6
December 149,441.9 883.3 43.7 35,618.5 74,787.8 56,510.9 18,276.9 0.0 23,958.5 14,150.2
Qrt.III 159,633.1 3,087.4 47.0 36,085.2 81,550.4 56,702.0 24,848.3 0.0 24,530.7 14,332.5
January 153,243.3 952.3 42.7 35,663.1 78,095.9 56,598.1 21,497.8 0.0 23,785.3 14,704.1
February 154,313.9 935.6 48.0 35,929.3 79,238.3 56,471.1 22,767.2 0.0 23,655.2 14,507.5
March 159,633.1 3,087.4 47.0 36,085.2 81,550.4 56,702.0 24,848.3 0.0 24,530.7 14,332.5
Qrt.IV 164,928.3 1,543.8 40.5 38,935.3 82,509.6 56,054.6 26,455.0 0.0 26,352.3 15,546.7
April 160,813.1 1,017.9 46.3 36,440.4 81,775.3 56,752.5 25,022.8 0.0 26,138.9 15,394.4
May 160,822.0 1,008.9 42.7 36,882.7 81,770.3 56,573.9 25,196.4 0.0 26,167.5 14,950.0
June 164,928.3 1,543.8 40.5 38,935.3 82,509.6 56,054.6 26,455.0 0.0 26,352.3 15,546.7
2023/24 Qrt.I 169,050.0 2,011.7 50.3 37,169.1 83,812.0 57,065.6 26,746.4 0.0 26,208.4 19,798.4
July 167,991.2 1,566.0 39.7 36,917.7 81,300.8 56,195.2 25,105.6 0.0 26,295.5 21,871.6
August 167,399.4 1,344.9 56.9 39,608.7 82,939.2 56,393.3 26,545.9 0.0 26,304.0 17,145.6
September 169,050.0 2,011.7 50.3 37,169.1 83,812.0 57,065.6 26,746.4 0.0 26,208.4 19,798.4
Qrt.II 174,042.0 1,718.2 58.1 38,424.5 88,339.6 53,231.4 35,108.2 0.0 27,557.9 17,943.7
October 169,963.1 2,468.3 54.9 37,896.7 83,958.8 56,966.4 26,992.4 0.0 27,914.4 17,670.1
November 166,734.8 1,679.3 52.0 38,105.6 81,149.1 53,965.8 27,183.3 0.0 27,949.2 17,799.7
December 174,042.0 1,718.2 58.1 38,424.5 88,339.6 53,231.4 35,108.2 0.0 27,557.9 17,943.7
Table 4: Money Supply and its Determinants
(In Millions of Birr)
Money and Quasi-Money Domestic Credit
Currency Net Foreign Assets
Net Total Net Claims on Gov't Claims on Other
Outside
End of Demand Money Quasi- Total Credit Total Non-Cen Total Items
Banks
Period Deposit Supply Money Volume Nat. Comm. Gov't Nat. Comm. Net
Bank Banks Bank Banks
(1+2) (3+4) (7+10) (8+9) (13+12)
1.0 2.0 3 4.0 5 6 7 8.0 9.0 10.0 11 12.0 13.0 14.0
2022/23 QI 168526.5 427123.7 595650.2 1202864.7 1798514.9 2014526.3 451249.1 368420.3 82828.8 1,563,277.3 2,099.4 -32638.2 34737.7 218110.9
July 170253.7 413489.9 583743.5 1142063.1 1725806.6 1965210.3 448401.8 357675.2 90726.7 1,516,808.5 -16,391.0 -38660.1 22269.1 223012.7
August 166015.8 413649.5 579665.4 1172999.6 1752665.0 1982558.8 449426.8 367069.0 82357.8 1,533,132.0 -12,080.3 -35505.6 23425.3 217813.6
September 168526.5 427123.7 595650.2 1202864.7 1798514.9 2014526.3 451249.1 368420.3 82828.8 1,563,277.3 2,099.4 -32638.2 34737.7 218110.9
QII 199950.1 444210.1 644160.1 1301398.0 1945558.1 2160670.5 473967.9 433192.7 40775.2 1,686,702.6 -313.5 -32638.2 32324.7 214798.9
October 170414.6 434118.5 604533.1 1225574.2 1830107.4 2049985.3 441379.0 384834.7 56544.3 1,608,606.2 -8,222.0 -38660.1 30438.1 211656.0
November 183794.1 428546.6 612340.7 1254996.7 1867337.4 2085302.8 444051.9 420408.1 23643.8 1,641,250.8 -5,829.5 -35505.6 29676.1 212135.9
December 199950.1 444210.1 644160.1 1301398.0 1945558.1 2160670.5 473967.9 433192.7 40775.2 1,686,702.6 -313.5 -32638.2 32324.7 214798.9
QIII 215288.6 468943.3 684231.9 1370269.0 2054500.9 2272872.0 514839.3 469870.1 44969.3 1,758,032.7 -8,219.9 -32638.2 24418.3 210151.2
January 205830.9 443363.0 649193.9 1322971.0 1972164.9 2189741.5 493199.5 448122.2 45077.4 1,696,541.9 -8,441.1 -38660.1 30219.0 209135.5
February 210919.3 441651.8 652571.0 1335447.3 1988018.3 2216743.3 489097.9 441984.7 47113.2 1,727,645.4 -14,326.4 -35505.6 21179.2 214398.6
March 215288.6 468943.3 684231.9 1370269.0 2054500.9 2272872.0 514839.3 469870.1 44969.3 1,758,032.7 -8,219.9 -32638.2 24418.3 210151.2
QIV 210142.6 494090.5 704233.0 1431527.4 2135760.5 2408233.5 574072.9 521300.0 52772.9 1,834,160.6 -1,312.8 -32638.2 31325.5 271160.3
April 225454.4 455639.6 681094.1 1375358.8 2056452.9 2284646.0 523276.4 483279.7 39996.7 1,761,369.6 -12,723.0 -38660.1 25937.1 215470.1
May 215350.2 469962.0 685312.2 1391516.1 2076828.3 2306107.9 544025.3 491185.3 52840.1 1,762,082.6 -4,010.0 -35505.6 31495.6 225269.6
June 210142.6 494090.5 704233.0 1431527.4 2135760.5 2408233.5 574072.9 521300.0 52772.9 1,834,160.6 -1,312.8 -32638.2 31325.5 271160.3
2023/24 QI 198729.5 495622.8 694352.3 1513228.7 2207581.0 2496465.5 608165.1 521021.4 87143.8 1888300.4 -213430.1 -226429.8 12999.7 75454.5
July 203991.4 487447.2 691438.6 1470668.1 2162106.7 2447996.6 588366.2 519996.4 68369.9 1859630.3 -177231.2 -204476.3 27245.1 108658.7
August 198386.9 487276.9 685663.8 1496716.3 2182380.1 2477744.2 600319.5 529085.6 71233.9 1877424.7 -201194.6 -218254.7 17060.1 94169.5
September 198729.5 495622.8 694352.3 1513228.7 2207581.0 2496465.5 608165.1 521021.4 87143.8 1888300.4 -213430.1 -226429.8 12999.7 75454.5
QII 210738.0 535267.9 746005.9 1562699.1 2308705.0 2594360.8 628010.4 557511.4 70499.0 1966350.4 -238309.7 -257625.2 19315.5 47346.1
October 193875.4 492067.6 685943.0 1527379.5 2213322.5 2497549.0 596547.9 515222.0 81325.9 1901001.2 -228412.6 -244321.4 15908.9 55814.0
November 198867.9 501460.3 700328.2 1534073.8 2234402.0 2513186.9 601268.2 542338.6 58929.6 1911918.7 -238402.4 -259966.7 21564.3 40382.5
December 210738.0 535267.9 746005.9 1562699.1 2308705.0 2594360.8 628010.4 557511.4 70499.0 1966350.4 -238309.7 -257625.2 19315.5 47346.1
Table 5: Seasonally adjusted data of Monetary Variables (1)
(In Millions of Birr)
Money and Quasi-Money Domestic Credit
End of Currency Net Central Foreign
Money Quasi Total Non-Cent.
Period Outside Demand Gov't Assets
Supply Money Volume Gov't
Banks Deposit (Net) (Net)
2022/23 QI 177795.4 415591.3 593386.8 1241356.4 1834743.2 1939988.9 1682086.3 2021.7
July 180128.4 412249.4 592377.8 1166046.4 1758424.2 1912149.6 1939998.1 -15948.4
August 175478.7 406203.9 581682.6 1204670.6 1786353.2 1913169.3 1778433.2 -11657.5
September 177795.4 415591.3 593386.8 1241356.4 1834743.2 1939988.9 1682086.3 2021.7
QII 158900.3 437991.1 596891.4 1275370.0 1872261.5 2162831.2 1180691.8 -313.8
October 174334.2 415017.3 589351.4 1209641.8 1798993.2 1972085.8 1824159.5 -7909.5
November 179015.4 412690.4 591705.9 1229896.7 1821602.6 2060279.1 1396704.5 -5759.5
December 158900.3 437991.1 596891.4 1275370.0 1872261.5 2162831.2 1180691.8 -313.8
QIII 171089.9 462378.1 633468.0 1342863.6 1976331.6 2275144.9 1230622.9 -8228.1
January 210565.0 423855.0 634420.0 1305772.4 1940192.4 2106531.3 1923878.6 -8120.3
February 205435.4 425310.7 630746.0 1308738.3 1939484.3 2190142.4 1470226.2 -14154.5
March 171089.9 462378.1 633468.0 1342863.6 1976331.6 2275144.9 1230622.9 -8228.1
QIV 244458.8 506017.8 750476.7 1431527.4 2182004.1 2442045.1 2545814.9 -162345.5
April 215534.4 472042.7 687577.1 1373983.5 2061560.6 2392024.4 1717335.3 -172037.0
May 222241.4 476541.5 698782.9 1391516.1 2090299.0 2315332.4 2206127.4 -157698.2
June 244458.8 506017.8 750476.7 1431527.4 2182004.1 2442045.1 2545814.9 -162345.5
2023/24 QI 209659.6 482241.0 691900.6 1561652.0 2253552.6 2404096.3 2031811.2 -205533.2
July 215822.9 485984.9 701807.7 1501552.1 2203359.8 2381900.7 2378467.2 -172446.0
August 209694.9 478505.9 688200.9 1537127.6 2225328.5 2391023.2 2177812.7 -194152.8
September 209659.6 482241.0 691900.6 1561652.0 2253552.6 2404096.3 2031811.2 -205533.2
QII 167473.5 527774.1 695247.6 1531445.1 2226692.7 2596955.1 1376445.3 -238548.0
October 198334.5 470416.6 668751.1 1507523.6 2176274.7 2402642.2 2155735.3 -219732.9
November 193697.3 482906.3 676603.6 1503392.4 2179996.0 2483028.7 1627042.8 -235541.6
December 167473.5 527774.1 695247.6 1531445.1 2226692.7 2596955.1 1376445.3 -238548.0
1/ Obtained by multiplying each original observation by appropriate index for the month
Table 6: International Reserves and Net Foreign Assets of National Bank & Commercial Banks
(In Millions of Birr)
Gross Reserve
National Bank of Ethiopia International Foreign Liabilities Net Foreign Assets
Reserves Comm.
End of Reserve Banks
Period Reserve Total Comm. Comm.
Gross NBE Foreign Tranche NBE Total NBE
Liab. Banks Banks
Reserve Total Gold Exc. Others Posi.

1=2+6 2=3 to 5 3 4 5 6.00 7=8+9 8 9 10=11+12 11=2-9 12=6-8

2022/23 QI 140232.5 64408.6 32.7 55744.7 7905.1 726.0 75823.9 261004.3 41,086.3 219918.1 -120771.8 -155509.5 34737.7
July 127353.1 65152.1 1039.7 55325.5 8038.7 748.2 62201.0 256281.0 39,931.9 216349.0 -128927.8 -151196.9 22269.1
August 130892.4 65676.2 32.7 57046.3 7852.9 744.3 65216.2 260967.7 41,790.9 219176.8 -130075.3 -153500.7 23425.3
September 140232.5 64408.6 32.7 55744.7 7905.1 726.0 75823.9 261004.3 41,086.3 219918.1 -120771.8 -155509.5 34737.7
QII 136135.6 62948.1 2.2 56164.2 6000.8 780.9 73187.5 276159.0 40,862.8 235296.2 -140023.4 -172348.2 32324.7
October 134004.1 62910.8 777.2 53077.9 8312.2 743.6 71093.3 260433.1 40,655.1 219777.9 -126429.0 -156867.2 30438.1
November 133873.4 63456.5 8.1 57170.3 5516.9 761.2 70417.0 264199.1 40,740.9 223458.2 -130325.6 -160001.8 29676.1
December 136135.6 62948.1 2.2 56164.2 6000.8 780.9 73187.5 276159.0 40,862.8 235296.2 -140023.4 -172348.2 32324.7
QIII 112446.9 48984.7 43.7 44826.2 3325.0 789.9 63462.1 274028.4 39,043.8 234984.6 -161581.5 -185999.8 24418.3
January 137249.9 65641.5 25.3 58213.2 6615.8 787.3 71608.4 280419.3 41,389.3 239030.0 -143169.4 -173388.5 30219.0
Febraury 123567.8 63155.7 38.8 56328.4 6010.8 777.6 60412.1 283514.8 39,232.9 244281.9 -159947.0 -181126.2 21179.2
March 112446.9 48984.7 43.7 44826.2 3325.0 789.9 63462.1 274028.4 39,043.8 234984.6 -161581.5 -185999.8 24418.3
QIV 130367.5 56154.3 129.2 51803.0 3427.2 795.0 74213.2 290465.2 42,887.7 247577.5 -160097.7 -191423.1 31325.5
April 122784.8 49221.1 572.9 43841.0 4009.6 797.7 73563.6 287099.0 47,626.5 239472.4 -164314.2 -190251.3 25937.1
May 128591.9 57379.3 166.5 53130.9 3296.4 785.6 71212.6 285661.9 39,717.0 245944.9 -157070.0 -188565.5 31495.6
June 130367.5 56154.3 129.2 51803.0 3427.2 795.0 74213.2 290465.2 42,887.7 247577.5 -160097.7 -191423.1 31325.5
2023/24 QI 82443.8 27100.6 730.6 22146.4 3431.9 791.7 55343.2 295873.8 42343.5 253530.3 -213430.1 -226429.8 12999.7
July 107163.3 37921.9 143.6 32776.2 4197.1 804.9 69241.4 284394.5 41996.3 242398.2 -177231.2 -204476.3 27245.1
August 89982.1 30839.0 144.1 26499.1 3399.7 796.1 59143.1 291176.7 42083.1 249093.7 -201194.6 -218254.7 17060.1
September 82443.8 27100.6 730.6 22146.4 3431.9 791.7 55343.2 295873.8 42343.5 253530.3 -213430.1 -226429.8 12999.7
QII 175149.5 113504.5 627.2 108516.7 3541.8 818.7 61645.0 413459.1 42329.5 371129.6 -238309.7 -257625.2 19315.5
October 186433.5 128456.2 28.8 123400.5 4234.1 792.8 57977.2 414846.0 42068.4 372777.6 -228412.6 -244321.4 15908.9
November 177523.3 111216.2 188.5 106775.6 3442.7 809.4 66307.2 415925.7 44742.9 371182.8 -238402.4 -259966.7 21564.3
December 175149.5 113504.5 627.2 108516.7 3541.8 818.7 61645.0 413459.1 42329.5 371129.6 -238309.7 -257625.2 19315.5
Table 7: Domestic Credit by Sector
(In Millions of Birr)
Gross
Claims on Central Gov't Claims on Non-Central Gov't
End of Domestic
Credit Comm. Loans & Invest-
Period Total NBE Total
Banks Advances ments
2022/23 QI 2,173,460.3 610,183.1 416,991.5 193,191.5 1,563,277.3 1,043,794.1 519,483.2
July 2,103,832.4 587,023.9 397,427.1 189,596.8 1,516,808.5 1,003,266.0 513,542.5
August 2,122,505.6 589,373.6 396,991.5 192,382.0 1,533,132.0 1,019,729.3 513,402.7
September 2,173,460.3 610,183.1 416,991.5 193,191.5 1,563,277.3 1,043,794.1 519,483.2
QII 2,350,407.0 663,704.4 473,991.5 189,712.8 1,686,702.6 1,153,410.0 533,292.6
October 2,236,815.7 628,209.5 443,991.5 184,217.9 1,608,606.2 1,083,660.0 524,946.2
November 2,280,468.8 639,218.0 463,991.5 175,226.4 1,641,250.8 1,115,251.5 525,999.3
December 2,350,407.0 663,704.4 473,991.5 189,712.8 1,686,702.6 1,153,410.0 533,292.6
QIII 2,455,221.1 697,188.4 513,991.5 183,196.8 1,758,032.7 1,212,578.4 545,454.3
January 2,383,486.7 686,944.8 493,991.5 192,953.2 1,696,541.9 1,164,204.7 532,337.2
Febraury 2,424,210.6 696,565.2 503,991.5 192,573.7 1,727,645.4 1,181,782.2 545,863.2
March 2,455,221.1 697,188.4 513,991.5 183,196.8 1,758,032.7 1,212,578.4 545,454.3
QIV 2,602,514.2 768,353.6 563,991.5 204,362.1 1,834,160.6 1,240,814.9 593,345.6
April 2,480,278.8 718,909.2 533,991.5 184,917.6 1,761,369.6 1,217,127.0 544,242.5
May 2,493,803.2 731,720.6 543,991.5 187,729.0 1,762,082.6 1,223,464.0 538,618.6
June 2,602,514.2 768,353.6 563,991.5 204,362.1 1,834,160.6 1,240,814.9 593,345.6
2023/24 QI 2,697,273.5 808,973.1 580,120.4 228,852.7 1,888,300.4 1,313,373.8 574,926.6
July 2,649,059.2 789,428.9 573,120.4 216,308.4 1,859,630.3 1,281,045.4 578,584.9
August 2,680,123.3 802,698.5 580,120.4 222,578.1 1,877,424.7 1,298,777.7 578,647.0
September 2,697,273.5 808,973.1 580,120.4 228,852.7 1,888,300.4 1,313,373.8 574,926.6
QII 2,786,401.0 820,050.6 600,120.4 219,930.2 1,966,350.4 1,375,118.3 591,232.2
October 2,701,450.5 800,449.4 580,120.4 220,328.9 1,901,001.2 1,327,354.3 573,646.8
November 2,716,664.4 804,745.7 590,120.4 214,625.3 1,911,918.7 1,338,755.2 573,163.6
December 2,786,401.0 820,050.6 600,120.4 219,930.2 1,966,350.4 1,375,118.3 591,232.2
Table 8: Deposits by Type and Sector
(In Millions of Birr)
Non-Central Gov't Deposits with CBs Central Gov't Dep. with
Net Time Dep. Comm.
End of Total Savings National
Demand (30 days Banks
Period Deposits Total Deposit Total Bank
Deposit & over)
1=2+6 2=3 to 5 3 4 5 6=7+8 7 8
2022/23 QI 1789469.7 1630535.7 427123.7 1085221.7 118190.3 158934.0 48571.3 110362.7
July 1694761.7 1556139.6 413489.9 1029476.6 113173.1 138622.1 39751.9 98870.2
August 1727178.4 1587231.6 413649.5 1057578.8 116003.3 139946.8 29922.6 110024.2
September 1789469.7 1630535.7 427123.7 1085221.7 118190.3 158934.0 48571.3 110362.7
QII 1935969.4 1746232.9 444210.1 1176276.0 125746.8 189736.5 40798.8 148937.7
October 1847045.7 1660215.3 434118.5 1106274.8 119822.0 186830.4 59156.8 127673.6
November 1880660.4 1685494.3 428546.6 1136900.8 120046.9 195166.1 43583.4 151582.6
December 1935969.4 1746232.9 444210.1 1176276.0 125746.8 189736.5 40798.8 148937.7
QIII 2022319.0 1839969.9 468943.3 1231983.0 139043.6 182349.0 44121.5 138227.6
January 1962387.6 1768642.3 443363.0 1193584.3 131695.1 193745.2 45869.4 147875.9
Febraury 1985364.0 1777896.7 441651.8 1200762.0 135482.9 207467.3 62006.8 145460.5
March 2022319.0 1839969.9 468943.3 1231983.0 139043.6 182349.0 44121.5 138227.6
QIV 2122285.8 1928005.2 494090.5 1284696.1 149218.6 194280.7 42691.6 151589.1
April 2029667.2 1834034.5 455639.6 1238105.7 140289.2 195632.8 50711.8 144920.9
May 2050611.6 1862916.3 469962.0 1248033.3 144921.0 187695.3 52806.3 134889.0
June 2122285.8 1928005.2 494090.5 1284696.1 149218.6 194280.7 42691.6 151589.1
2023/24 QI 2212339.8 2011531.8 495622.8 1368944.7 146964.4 200808.0 59099.1 141708.9
July 2161864.2 1960801.6 487447.2 1329057.2 144297.2 201062.7 53124.1 147938.6
August 2192374.5 1989995.5 487276.9 1355791.3 146927.2 202379.1 51034.8 151344.2
September 2212339.8 2011531.8 495622.8 1368944.7 146964.4 200808.0 59099.1 141708.9
QII 2292822.5 2100782.2 535267.8 1399852.6 165661.7 192040.2 42609.0 149431.2
October 2226059.3 2022157.8 492067.6 1380488.3 149601.9 203901.5 64898.4 139003.1
November 2241373.8 2037896.3 501460.3 1381364.8 155071.2 203477.5 47781.8 155695.7
December 2292822.5 2100782.2 535267.8 1399852.6 165661.7 192040.2 42609.0 149431.2
Table 9: Reserve and Liquidity Position of the Commercial Banks, and Turnover of Deposits
(In Millions of Birr)

Foreign Liabilities Actual Ratio:

Liqui- Debit Turn-
Reserve Actual Foreign Short Long Reserve+ Loans
Excess dity Bal- Over of
End of Requir- Rese. Assets Total Term Term Net For. Ratio Adv. to
Rese. ance Deposit
Period ments Assets Dep.

1 2 3=2-1 4 5=6+7 6 7 7=2+4-5 8 9 10 11

2022/23 QI 84862.8 207769.1 122906.3 75823.9 41086.3 41086.3 0.0 242,506.7 15.3 60.1 -33346.6 -0.1
July 87044.9 201755.8 114710.8 62201.0 39931.9 39931.9 0.0 224,024.9 13.7 60.0 2211693.1 3.8
August 82750.5 209231.7 126481.2 65216.2 41790.9 41790.9 0.0 232,657.0 15.0 60.6 2309939.7 4.2
September 84862.8 207769.1 122906.3 75823.9 41086.3 41086.3 0.0 242,506.7 15.3 60.1 -33346.6 -0.1
QII 91853.8 220718.6 128864.7 73187.5 40862.8 40862.8 0.0 253,043.3 15.0 60.7 -70872.4 -0.1
October 94758.5 210168.0 115409.5 71093.3 40655.1 40655.1 0.0 240,606.1 13.8 60.9 2342477.7 3.7
November 89394.4 227924.7 138530.3 70417.0 40740.9 40740.9 0.0 257,600.9 15.5 60.6 2360083.7 3.8
December 91853.8 220718.6 128864.7 73187.5 40862.8 40862.8 0.0 253,043.3 15.0 60.7 -70872.4 -0.1
QIII 96167.9 235879.5 139711.7 63462.1 39043.8 39043.8 0.0 260,297.8 14.6 61.4 -81400.4 -0.1
January 98909.9 226696.1 127786.2 71608.4 41389.3 41389.3 0.0 256,915.1 14.0 61.3 2466151.3 3.8
Febraury 95825.9 214744.4 118918.5 60412.1 39232.9 39232.9 0.0 235,923.6 13.3 60.7 2489143.3 3.9
March 96167.9 235879.5 139711.7 63462.1 39043.8 39043.8 0.0 260,297.8 14.6 61.4 -81400.4 -0.1
QIV 99890.3 263875.8 163985.5 74213.2 42887.7 42887.7 0.0 295,201.2 15.8 61.2 -90194.4 -0.1
April 103979.7 223806.8 119827.1 73563.6 47626.5 47626.5 0.0 249,743.9 13.0 59.7 2530508.0 3.7
May 98947.8 234711.1 135763.3 71212.6 39717.0 39717.0 0.0 266,206.6 14.5 61.5 2551529.3 3.9
June 99890.3 263875.8 163985.5 74213.2 42887.7 42887.7 0.0 295,201.2 15.8 61.2 -90194.4 -0.1
2023/24 QI 107067.0 243639.3 136572.3 55343.2 42343.5 42343.5 0.0 256639.0 12.9 60.7 -73695.8 -0.1
July 107662.0 254829.4 147167.4 69241.4 41996.3 41996.3 0.0 282074.6 14.0 61.0 2662206.0 3.8
August 105437.0 255326.8 149889.8 59143.1 42083.1 42083.1 0.0 272386.9 13.9 60.7 2711670.4 3.9
September 107067.0 243639.3 136572.3 55343.2 42343.5 42343.5 0.0 256639.0 12.9 60.7 -73695.8 -0.1
QII 109679.6 235430.2 125750.6 61645.0 42329.5 42329.5 0.0 254745.7 12.5 61.0 -56489.3 -0.1
October 112510.7 218034.3 105523.6 57977.2 42068.4 42068.4 0.0 233943.2 11.1 61.1 2737383.0 3.8
November 108058.0 238924.6 130866.6 66307.2 44742.9 44742.9 0.0 260488.9 12.9 61.4 2792157.2 4.0
December 109679.6 235430.2 125750.6 61645.0 42329.5 42329.5 0.0 254745.7 12.5 61.0 -56489.3 -0.1
Note:
Actual Reserve: Reserves with the National Bank of Ethiopia Plus Cash in Hand (Local Currency).
Liquidity Ratio: Actual Reserves + Foreign Asset, net of short term liabilities, divided by Demand Deposits, net.
Ratio of Loans and Advances to Deposits: Gross Commercial Bank Loans and discounts plus credit to Central
Government divided by Gross Demand Deposits (of private and others) + Demand Deposits of domestic banks + Time
and Savings Deposits + Government Deposits with commercial banks.
Debit Balance: Total Debit Balance less debit against the deposits of the commercial banks.
Turnover of Deposits: Debit Balances divided by Gross Demand Deposits of private and others + Government Deposits.
Table 10: Circulating Notes and Coins by Denomination
Denomination of Notes: Birr Denominations of Coins: Cents
Value of Total Total
End of Notes & Value Value
Period Coins (Notes) 1 5 10 50 100 200 (Coins) 1 5 10 25 50 100(coin)
2022/23 Qtr.I 207,706.7 206,402.2 372.4 1,637.8 6,075.6 15,406.7 64,926.0 117,983.8 1,304.5 0.8 41.4 99.4 73.3 126.3 963.2
July 206,519.1 205,223.7 372.5 1,654.0 6,128.0 15,490.1 65,783.2 115,795.9 1,295.4 0.8 41.4 99.4 73.3 126.2 954.3
August 200,777.8 199,477.5 372.4 1,637.4 6,041.4 14,687.1 63,681.5 113,057.7 1,300.3 0.8 41.4 99.4 73.3 126.3 959.1
September 207,706.7 206,402.2 372.4 1,637.8 6,075.6 15,406.7 64,926.0 117,983.8 1,304.5 0.8 41.4 99.4 73.3 126.3 963.2
Qtr.II 235,831.2 234,512.0 369.3 1,669.4 6,356.9 17,775.5 70,868.3 137,472.6 1,319.2 0.8 41.5 99.5 73.3 126.5 977.7
October 209,959.3 208,649.3 369.3 1,636.9 6,036.8 15,370.2 65,279.2 119,956.8 1,310.0 0.8 41.5 99.5 73.3 126.4 968.5
November 221,904.6 220,591.6 369.3 1,649.6 6,188.2 16,413.8 68,188.1 127,782.7 1,313.0 0.8 41.5 99.5 73.3 126.4 971.6
December 235,831.2 234,512.0 369.3 1,669.4 6,356.9 17,775.5 70,868.3 137,472.6 1,319.2 0.8 41.5 99.5 73.3 126.5 977.7
Qtr.III 258,421.6 257,085.3 372.1 1,729.6 6,376.1 19,216.4 68,774.5 160,616.6 1,336.3 0.8 41.4 99.4 73.2 126.5 994.9
January 247,929.9 246,606.9 369.3 1,693.9 6,311.9 18,755.9 69,672.4 149,803.6 1,323.0 0.8 41.5 99.5 73.3 126.5 981.5
February 253,771.1 252,440.5 368.5 1,702.0 6,362.1 19,087.9 69,223.5 155,696.5 1,330.6 0.8 41.5 99.5 73.3 126.5 989.1
March 258,421.6 257,085.3 372.1 1,729.6 6,376.1 19,216.4 68,774.5 160,616.6 1,336.3 0.8 41.4 99.4 73.2 126.5 994.9
Qtr.IV 254,405.6 253,061.4 371.9 1,716.0 6,020.3 17,686.4 67,838.2 159,428.7 1,344.2 0.8 41.5 99.5 73.2 126.5 1,002.7
April 269,541.1 268,201.5 371.9 1,730.2 6,387.2 19,762.0 71,086.3 168,863.8 1,339.6 0.8 41.5 99.5 73.2 126.5 998.1
May 259,801.5 258,458.5 371.9 1,703.6 6,124.1 18,340.0 68,595.3 163,323.5 1,343.0 0.8 41.5 99.5 73.2 126.5 1,001.5
June 254,405.6 253,061.4 371.9 1,716.0 6,020.3 17,686.4 67,838.2 159,428.7 1,344.2 0.8 41.5 99.5 73.2 126.5 1,002.7
2023/24 Qtr.I 245,397.8 244,053.6 371.6 1,706.3 5,796.9 16,462.3 65,554.3 154,162.2 1,344.3 0.8 41.5 99.6 73.3 126.5 1,002.7
July 250,531.6 249,185.1 371.8 1,718.0 5,947.8 17,347.9 67,093.6 156,706.1 1,346.5 0.8 41.5 99.5 73.3 126.5 1,004.9
August 241,147.5 239,798.7 371.8 1,714.7 5,808.6 16,385.3 64,479.5 151,038.8 1,348.8 0.8 41.5 99.6 73.3 126.5 1,007.1
September 245,397.8 244,053.6 371.6 1,706.3 5,796.9 16,462.3 65,554.3 154,162.2 1,344.3 0.8 41.5 99.6 73.3 126.5 1,002.7
Qtr.II 254,241.5 252,884.5 372.1 1,709.7 5,805.4 16,547.4 69,629.8 158,820.0 1,357.0 0.8 41.5 99.5 73.2 126.4 1,015.6
October 239,233.4 237,882.0 368.7 1,701.9 5,732.4 15,276.5 63,438.8 151,363.8 1,351.4 0.8 41.5 99.6 73.2 126.5 1,009.7
November 243,788.5 242,434.1 368.6 1,702.4 5,780.6 15,796.1 65,665.8 153,120.6 1,354.4 0.8 41.5 99.5 73.2 126.5 1,012.8
December 254,241.5 252,884.5 372.1 1,709.7 5,805.4 16,547.4 69,629.8 158,820.0 1,357.0 0.8 41.5 99.5 73.2 126.4 1,015.6
 Table 11: Interest Rate Structures
A. Lending rates (by CBE and specialized banks)
Through September 30, 1992
Oct. 1, 1992- Sept.1,1994-
Aug 31, 1994 Jan. 1, 1995
Sector Cooperatives State Private
Agriculture 5 6 7 11.0-12 Lending to all sectors 14-15
Industry, mining, power, and water resources 6 8 9 13.0-14
Domestic trade 6 8 9.5 14.0-15 Lending to the Central Gov't 12-13
Transport and communications 6 8 8 13.0-14
Export trade 6 6 6 13.0-14 NBE Lending to: 10.5
Import trade (agricultural inputs) 5 6 7 14.0-15 CBEs/ Discount Rate/
Import trade (other) 6 8 9.5 14.0-15
Hotels and tourism 6 8 9 14.0-15 Other Financial Inst. 10.5
Construction 6 8 9 11.0-12
Housing (1) purchase 6 6 8 11.0-12 Interbank Rate 10
(2) construction 4.5 4.5 7 11.0-12
Central Government -- 3.0-5.0 -- 12.0-13
Banks and financial institutions -- 2.5-4.5 -- 10.0
Personal loans -- -- 10 14.0-15

B. Deposit rates
Through Oct. 1, 1992-
September 30, Aug 31, 1994 Sept.1,1994-
Deposit rates 1992 Jan. 1, 1995
1.Time deposits
30 days notice -- 10.5 10.5
3 months to less than 6 months -- 10.5 10.5
6 months to less than 12 months -- 11 11
1 year to less than 2 years Differed by 11.5 11.5
2 years and above ownership 12 12
and maturity
Memorandum Items:
Rate differentials for 1 year and over
Financial institutions (1 year): 1.0
Gov'nt-owned under takings (1 year): 1.0
Individuals, savings and credit
cooperatives;self-help organizations:
1 year 6.0
2 years 6.5
3 years 7.0
5 years 7.5
Others:1 year 4.0
2 years 0.8
3 years 5.0
5 years 5.5

Differed by 10 10
2.Savings deposits ownership
and maturity
Rate differentials:
Individuals, savings and credit cooperatives;
self-help organizations:
Up to Br. 100,000 6.0
In excess of Br. 100,000 2.0

C. Minimum and Maximum Interest Rates

Jan. 2, 1995- Dec. 1, 1995- June 1, 1996- Sep.16,1996- Jan. 1,1998- Aug. 2002 to 08/02/2005 04/07/2007 11/10/2017
Nov. 30, 1995 May 30, 1996 Sep. 15, 1996 Dec. 31,1997 Mar. 3, 2002 Mar. 4,2002- 07/02/2005 04/07/2007 30/11/2010 01/12/2010 to todate
Minimum and Maximum Interest Rates 01/08/2002 to 10-Oct-2017
Minimum interest rates on Time
and Savings Deposits 10 11 10 7 6 3 3 3 4 5 7
Maximum lending rate by commercial
banks & other financial institutions, 15 16 15 10.5 Market Market Market Market Market Market Market
except for central government loan determined determined determined determined determined determined determined
Central Government loan 12 12 12 12 6 6 5 3 3 3 3
Table 12: Government Internal Debt by Holder
(In Millions of Birr)

Total National Bank of Ethiopia

Gov't Gov't Bonds Commercial Banks Others
NBE Direct Non- Comm.
End of Indebt- Interest Gov't Others Gov't Treasury
Total Advance interest Banks Treasury
Period edness bearing Bonds Total Bonds Bills
bearing Total Bills

1=2+6+9 2=3 to 5 3 4 5 6=7+8 7 8 9=10+11 10 11

2022/23 Qtr.I 752596.5 416991.5 219500.0 5226.6 192264.9 193191.5 26621.4 166,570.1 142,413.4 18.1 142395.3
July 718855.3 397427.1 199500.0 5662.2 192264.9 189596.8 26580.0 163,016.9 131,831.4 18.1 131813.3
August 728670.0 396991.5 199500.0 5226.6 192264.9 192382.0 26607.4 165,774.6 139,296.4 18.1 139278.3
Sebtember 752596.5 416991.5 219500.0 5226.6 192264.9 193191.5 26621.4 166,570.1 142,413.4 18.1 142395.3
Qtr.II 816290.9 473991.5 40000.0 5226.6 428764.9 185538.9 31999.1 153,539.8 156,760.4 18.1 156742.3
October 773897.9 443991.5 10000.0 5226.6 428764.9 184217.9 27487.3 156,730.7 145,688.4 18.1 145670.3
November 789349.4 463991.5 30000.0 5226.6 428764.9 175226.4 29062.5 146,164.0 150,131.4 18.1 150113.3
December 816290.9 473991.5 40000.0 5226.6 428764.9 185538.9 31999.1 153,539.8 156,760.4 18.1 156742.3
Qtr.III 848646.7 513991.5 80000.0 5226.6 428764.9 159934.9 24644.0 135,290.9 174,720.2 18.1 174702.1
January 834923.0 493991.5 60000.0 5226.6 428764.9 177440.5 34142.3 143,298.2 163,491.0 18.1 163472.9
February 849089.7 503991.5 70000.0 5226.6 428764.9 172547.5 24470.1 148,077.4 172,550.7 18.1 172532.6
March 848646.7 513991.5 80000.0 5226.6 428764.9 159934.9 24644.0 135,290.9 174,720.2 18.1 174702.1
Qtr.IV 923913.3 563991.5 130000.0 5226.6 428764.9 165652.2 24989.9 140,662.3 194,269.6 18.1 194251.5
April 870422.3 533991.5 100000.0 5226.6 428764.9 154903.2 24674.2 130,229.0 181,527.6 18.1 181509.5
May 886361.1 543991.5 110000.0 5226.6 428764.9 153130.0 24345.6 128,784.4 189,239.6 18.1 189221.5
June 923913.3 563991.5 130000.0 5226.6 428764.9 165652.2 24989.9 140,662.3 194,269.6 18.1 194251.5
2023/24 Qtr.I 975835.0 580120.4 147000.0 4355.5 428764.9 176238.8 22304.1 153934.7 219475.8 18.1 219457.7
July 947938.0 573120.4 140000.0 4355.5 428764.9 172068.8 22298.3 149770.5 202748.8 18.1 202730.7
August 969878.6 580120.4 147000.0 4355.5 428764.9 174717.4 22301.3 152416.1 215040.8 18.1 215022.7
Sebtember 975835.0 580120.4 147000.0 4355.5 428764.9 176238.8 22304.1 153934.7 219475.8 18.1 219457.7
Qtr.II 990553.2 600120.4 167000.0 4355.5 428764.9 153459.6 23623.2 129836.4 236973.2 18.1 236955.1
October 967153.3 580120.4 147000.0 4355.5 428764.9 163673.7 22307.1 141366.6 223359.2 18.1 223341.1
November 972068.4 590120.4 157000.0 4355.5 428764.9 153262.8 22309.9 130952.8 228685.2 18.1 228667.1
December 990553.2 600120.4 167000.0 4355.5 428764.9 153459.6 23623.2 129836.4 236973.2 18.1 236955.1
* Since December 2019, Gov't Treasury bills to others includes Both Treasury bills and Notes
Table 13: General Government Quarterly Revenue (In million Birr)
Ethiopian fiscal year 2015 2016
Fiscal year ending July 7 2022/23 2023/24
Revised Revised Revised 6 Pre-Actual
Revised Pre actual
Budget Budget 3Mon(QI) Month (QII) 9Month (QIII) 12Month (QIV) Budget 3mon(QI) 6months (QII)
Tax revenue 593,695.1 614,207.3 127,517.5 296,377.7 168,860.2 429,935.5 133,557.8 593,232.1 163,296.6 774,416.4 147,537.4 366,512.3 218,974.9
Direct taxes 257,572.6 267,470.3 57,170.1 144,020.0 86,849.9 189,835.1 45,815.1 263,958.6 74,123.5 353,003.3 59,366.8 180,833.8 121,467.0
Income and profits tax 248,870.9 258,230.6 55,712.6 141,335.5 85,623.0 186,269.6 44,934.0 254,984.3 68,714.7 337,876.4 57,544.0 176,634.8 119,090.8
Personal income 98,435.1 102,025.3 24,245.2 49,947.1 25,701.9 71,944.6 21,997.6 108,234.1 36,289.5 130,979.5 27,295.2 61,527.6 34,232.4
Rental income tax 5,862.2 7,522.6 2,015.3 4,983.8 2,968.5 5,746.5 762.7 6,502.5 755.9 10,002.8 2,394.5 5,927.4 3,532.9
Business profits 118,775.9 121,930.8 26,154.3 79,650.6 53,496.3 96,972.4 17,321.8 123,422.3 26,449.9 157,691.6 24,458.0 99,083.6 74,625.6
Withholding income tax on imports 8,482.5 8,517.5 423.4 1,126.1 702.7 2,028.9 902.8 1,517.0 (511.9) 10,527.6 199.2 1,785.5 1,586.3
Agriculture income 562.7 867.9 34.0 187.3 153.4 441.5 254.2 563.1 121.5 1,283.4 29.1 418.3 389.1
Other income 12,246.1 12,585.7 1,880.3 3,312.9 1,432.6 5,554.7 2,241.8 9,647.4 4,092.8 21,363.2 2,814.2 4,927.1 2,112.9
Interest income tax 4,077.4 4,138.0 864.8 1,894.9 1,030.1 3,196.5 1,301.5 4,510.5 1,314.1 4,887.2 111.4 2,610.5 2,499.1
Capital gains tax 428.9 642.6 95.3 232.8 137.5 384.4 151.6 587.4 203.0 1,141.3 242.4 354.7 112.4
Rural land use fee 385.1 921.4 48.3 208.9 160.6 398.5 189.6 511.6 113.1 516.5 12.0 443.0 431.1
Urban land lease fee 8,316.6 8,318.3 1,409.2 2,475.5 1,066.3 3,167.0 691.5 8,462.7 5,295.7 14,610.3 1,810.8 3,756.0 1,945.2
Domestic indirect taxes 164,017.6 174,632.1 30,425.3 69,203.0 38,777.7 113,711.9 44,508.9 160,720.8 47,008.9 233,824.4 41,590.8 95,600.5 54,009.7
Sales/TOT/excise taxes 82,997.1 92,062.8 12,926.7 26,189.5 13,262.8 49,783.1 23,593.6 65,316.5 15,533.5 120,444.9 18,189.2 41,748.9 23,559.7
Petroleum products 1,248.9 1,289.9 94.8 461.2 366.3 996.5 535.4 1,858.8 862.3 1,415.7 654.1 1,299.3 645.2
Alcohol and tobacco 5,743.5 5,749.7 1,192.3 2,631.9 1,439.7 4,564.6 1,932.7 8,051.3 3,486.6 6,441.9 1,826.7 6,672.9 4,846.2
Other goods 76,004.7 85,023.3 11,639.6 23,096.4 11,456.8 44,221.9 21,125.5 55,406.5 11,184.6 112,587.4 15,708.4 33,776.7 18,068.3
Services TOT/ sales tax 75,546.7 76,347.0 15,638.8 39,071.3 23,432.5 58,156.4 19,085.2 87,374.6 29,218.2 100,522.8 21,398.2 49,678.5 28,280.3
Stamp duties 5,473.7 6,222.2 1,859.8 3,942.2 2,082.4 5,772.4 1,830.2 8,029.7 2,257.3 12,856.8 2,003.4 4,173.1 2,169.8
Import duties and taxes 172,104.9 172,104.9 39,922.1 83,154.7 43,232.6 126,388.5 43,233.7 168,552.6 42,164.1 187,576.4 46,574.3 90,063.0 43,488.7
Custom duties 62,238.8 62,238.8 14,889.1 31,782.2 16,893.2 48,818.8 17,036.6 64,255.5 15,436.7 67,838.3 21,593.9 42,096.2 20,502.3
Sales/excise taxes 79,454.3 79,454.3 20,024.1 41,025.4 21,001.3 61,131.6 20,106.2 79,698.7 18,567.1 86,590.2 20,033.7 38,771.8 18,738.1
Petroleum products 4,237.9 4,237.9 1,378.5 2,622.1 1,243.6 3,150.4 528.3 3,852.4 702.0 4,619.1 672.9 2,003.8 1,330.9
Alcohol and tobacco 786.5 786.5 197.5 377.3 179.8 455.4 78.1 622.4 167.0 857.2 91.8 209.0 117.2
Other imports 74,429.9 74,429.9 18,448.1 38,026.0 19,577.9 57,525.9 19,499.8 75,223.9 17,698.1 81,113.8 19,269.0 36,559.0 17,290.0
Surtax on imports 30,411.9 30,411.9 5,009.0 10,347.2 5,338.2 16,438.1 6,090.9 24,598.4 8,160.4 33,147.9 4,946.7 9,195.0 4,248.3
Export taxes 12.4 5.5 15.0 9.5
Coffee duties
Coffee surtax
Other
Transaction tax
Non-tax revenue 99,321.0 98,582.9 15,851.5 33,161.5 17,310.1 48,115.2 14,953.6 92,227.1 44,111.9 157,622.1 15,835.3 44,986.5 29,151.2
Charges and fees 7,027.9 7,334.3 1,254.6 2,600.3 1,345.7 3,911.9 1,311.6 7,148.0 3,236.1 6,945.1 2,357.8 5,938.1 3,580.3
Sales of goods & services 11,691.6 14,844.3 2,142.0 4,987.2 2,845.1 7,890.0 2,902.8 12,844.5 4,954.4 12,951.1 2,126.3 5,829.2 3,703.0
Residual surplus, capital charge, interest
payments and state dividend 23,508.3 23,436.4 1,975.2 3,160.7 1,185.4 3,465.0 304.3 16,679.0 13,214.1 23,474.4 141.0 847.1 706.1
Reimbursement & property sales 1,908.8 2,047.3 272.4 680.3 407.9 940.6 260.3 1,477.5 536.9 2,059.1 319.8 623.7 304.0
Miscellaneous 34,506.2 26,765.9 3,797.2 7,888.9 4,091.8 11,218.6 3,329.7 20,236.9 9,018.3 38,864.9 3,493.4 8,616.9 5,123.4
Other extraordinary 0.0 0.0 0.0 0.0 0.0 0.0 - - - - - - -
Privatization proceeds 0.0 0.0 0.0 0.0 0.0 0.0 - - - - - - -
Other revenue 20,678.3 24,154.7 6,410.0 13,844.1 7,434.1 20,689.1 6,845.0 33,841.2 13,152.1 73,327.4 7,397.0 23,131.4 15,734.4
Total revenue 693,016.1 712,790.2 143,369.0 329,539.2 186,170.3 478,050.7 148,511.4 685,459.1 207,408.4 932,038.5 163,372.6 411,498.8 248,126.2
External grants 38,924.0 38,924.0 6,565.6 13,443.8 6,878.2 21,885.3 8,441.5 32,127.6 10,242.3 41,119.6 0.0 14,951.2 14,951.2
Grants in kind/earmarked 31,264.7 31,264.7 6,565.6 13,443.8 6,878.2 21,885.3 8,441.5 29,701.5 7,816.2 34,770.2 - 14,951.2 14,951.2
Untied cash & CPF/grants 7,659.3 7,659.3 0.0 0.0 0.0 0.0 0.0 2,426.1 2,426.1 6,349.4 - - -
Total revenue and grants 731,940.1 751,714.2 149,934.6 342,983.1 193,048.5 499,936.0 156,952.9 717,586.7 217,650.7 973,158.2 163,372.6 426,450.0 263,077.4
Source: Ministry of Finance, National Bank of Ethiopia
Table 14: General Government Quarterly Expenditure
(In million Birr)
Ethiopian fiscal year 2015 2016
Fiscal year ending July 7 2022/23 2023/24
Pre-Actual Pre-actual
Revised 6 Revised
Month (QII) 9Month (QIII) 12Month QIV Budget 3months(QI) 6months (QII)
A. Capital Expenditure
Economic development 77,313.0 50,344.3 127,087.1 49,774.1 216,131.9 89,044.8 278,620.0 38,900.2 109,447.4 70,547.1
Agriculture 10,332.0 5,839.1 18,455.4 8,123.4 27,566.4 9,111.0 39,102.5 7,545.9 16,297.4 8,751.5
Natural Resource 15,726.3 11,690.2 28,516.2 12,789.9 47,356.3 18,840.1 56,359.6 5,311.6 26,458.2 21,146.6
o/w: Water 15,274.1 12,366.1 27,032.9 11,758.7 46,424.6 19,391.7 50,304.1 5,052.8 24,122.0 19,069.1
Mines & Energy 1,036.6 1,034.0 1,531.6 495.0 1,669.9 138.3 2,696.7 289.8 610.3 320.6
Trade, Industry & Tourism 688.8 434.4 1,617.0 928.2 8,975.4 7,358.4 8,145.4 381.9 3,497.2 3,115.3
Urban dev't & housing 19,357.0 12,126.6 26,901.7 7,544.7 44,390.0 17,488.2 20,477.3 12,832.2 30,003.4 17,171.2
Road construction 29,525.5 18,745.5 48,840.9 19,315.5 78,597.6 29,756.6 93,888.9 11,196.0 30,115.6 18,919.5
Transport & communication 646.8 474.7 1,224.2 577.4 7,576.4 6,352.2 57,949.7 1,342.8 2,465.3 1,122.5
Social Development 29,001.7 20,966.5 44,311.2 15,309.6 74,773.2 30,462.0 83,897.2 11,416.8 32,479.6 21,062.8
Education 19,754.9 15,108.2 29,403.8 9,648.9 50,860.6 21,456.8 40,736.7 6,541.8 20,188.2 13,646.4
Health 7,810.5 4,982.7 12,435.4 4,624.9 19,094.2 6,658.8 32,604.6 4,025.2 9,369.3 5,344.1
Socail welfare 730.3 360.3 1,144.4 414.1 2,444.6 1,300.3 3,426.8 450.4 1,821.9 1,371.5
Culture & sport 705.9 515.3 1,327.6 621.7 2,373.7 1,046.1 7,129.2 399.5 1,100.3 700.8
General Development 17,078.8 11,795.5 30,205.0 13,126.1 65,011.8 34,806.8 131,030.3 8,842.7 30,408.9 21,566.1
Compensation payments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
External assistance 13,443.8 6,878.2 21,885.3 8,441.5 29,701.5 7,816.2 34,770.2 7,301.7 14,951.2 7,649.4
Sub Total Capital Expenditure 123,393.5 83,106.3 201,603.4 78,209.8 355,917.0 154,313.6 493,547.5 59,159.8 172,335.8 113,176.1
B. Current Expenditure
General Services 95,686.5 52,457.6 145,612.0 49,925.5 215,850.3 70,238.3 179,175.4 44,467.7 100,130.8 55,663.2
Organ of the State 10,948.7 5,901.3 16,252.2 5,303.5 27,366.7 11,114.5 23,202.5 5,718.8 13,587.8 7,869.0
Justice 6,447.8 3,128.3 10,131.3 3,683.4 14,411.4 4,280.2 16,052.2 1,829.7 6,506.0 4,676.3
Defence 39,541.6 22,214.9 59,448.1 19,906.5 82,824.7 23,376.5 50,000.0 17,355.0 35,572.2 18,217.3
Public order & security 21,358.8 12,944.2 33,364.5 12,005.6 50,390.2 17,025.7 48,320.3 9,397.6 22,630.5 13,232.9
Other General services 17,389.5 8,268.9 26,415.9 9,026.4 40,857.3 14,441.4 41,600.4 10,166.6 21,834.3 11,667.7
Economic Services 25,763.0 13,325.4 39,124.1 13,361.1 55,863.0 16,738.9 81,574.3 11,552.2 32,434.3 20,882.2
Agriculture&natural resource 15,156.5 8,286.3 22,926.9 7,770.4 32,714.1 9,787.2 48,546.9 6,768.8 20,468.6 13,699.8
Agriculture 12,239.5 6,504.2 18,429.4 6,189.9 25,819.4 7,389.9 39,776.9 5,496.5 16,944.4 11,447.9
Natural resource 2,917.0 1,782.0 4,497.5 1,580.5 6,894.7 2,397.2 8,769.9 1,272.2 3,524.1 2,251.9
o/w: Water 2,882.6 1,859.6 4,466.1 1,583.5 6,876.2 2,410.0 7,146.2 1,116.2 2,690.8 1,574.6
Trade, Industry & Tourism 5,550.6 2,595.7 8,655.5 3,104.9 12,366.0 3,710.5 12,927.7 2,719.3 6,705.5 3,986.3
Mines & Energy 139.9 75.6 240.8 100.9 330.2 89.4 361.3 46.6 168.7 122.1
Tourism 187.8 111.7 288.6 100.8 485.9 197.3 618.8 11.7 185.8 174.1
Transport & communication 1,419.1 562.1 2,069.5 650.4 3,286.7 1,217.2 2,995.4 511.0 1,037.5 526.5
Urban devt. & construction 2,615.2 1,372.5 3,889.4 1,274.3 5,330.4 1,441.0 14,829.4 1,172.4 3,185.6 2,013.2
o/w: Road Construction 1,209.9 652.6 1,771.8 561.9 2,123.7 351.9 4,138.0 533.4 1,689.7 1,156.3
Economic development studies 693.9 321.5 1,053.3 359.5 1,349.6 296.3 1,294.8 322.4 682.6 360.2
Social Services 101,248.0 47,260.1 150,895.5 49,647.5 217,279.4 66,383.9 244,902.3 43,707.4 99,182.2 55,474.9
Education & training 65,774.1 31,029.4 99,736.0 33,962.0 142,805.6 43,069.6 159,685.1 28,746.4 66,198.1 37,451.7
Culture & sports 2,495.8 1,354.9 3,753.5 1,257.7 5,528.1 1,774.5 5,455.3 1,500.3 2,890.6 1,390.2
Public health 23,442.5 11,580.8 35,913.2 12,470.8 53,144.4 17,231.2 67,567.0 10,224.8 23,236.9 13,012.2
Labour & social welfare 1,339.3 604.7 2,306.9 967.6 3,804.1 1,497.2 2,632.5 647.2 1,441.1 793.9
Rehabilitation 8,196.3 2,690.4 9,185.8 989.5 11,997.2 2,811.5 9,562.3 2,588.6 5,415.6 2,826.9
Interest & Charges 29,064.7 18,063.0 39,454.4 10,389.7 54,544.0 15,089.6 105,470.0 12,032.3 29,269.4 17,237.1
Internal debt 21,347.7 13,467.5 30,195.7 8,847.9 41,556.6 11,361.0 88,458.0 10,892.7 25,230.6 14,337.9
External debt 7,717.0 4,595.5 9,258.7 1,541.7 12,987.4 3,728.7 17,012.0 1,139.6 4,038.8 2,899.2
O/w: defence commercial
Miscellaneous 28,190.3 19,730.6 33,140.1 4,949.8 39,317.9 6,177.8 95,805.8 3,167.7 18,744.5 15,576.8
External assistance * 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Sub Total Current Expenditure 279,952.5 150,836.7 408,226.1 128,273.6 582,854.6 174,628.5 706,927.8 114,927.2 279,761.3 164,834.1
Grand Total Expenditure 403,346.0 233,943.1 609,829.4 206,483.4 938,771.6 328,942.2 1,200,475.3 174,086.9 452,097.1 278,010.2
Source: Ministry of Finance, National Bank of Ethiopia * Estimated value
Table 15: Domestic Refining and Imports of Ptroleum (In Metric Tone)

Period MGR Jet fuel Gasoil LFO HFO Total fuel oil
Qtr.I 106,706.3 165,269.2 591,077.3 10,763.3 10,241.3 884,057.5 21,004.7
Qtr.II 99,641.2 234,532.1 608,690.1 8,174.2 10,396.3 961,433.8 18,570.5
2017/18
Qtr.III 114,839.2 149,872.7 629,025.2 9,240.3 12,457.8 915,435.2 21,698.1
Qtr.IV 120,355.6 188,431.8 678,879.8 7,607.5 14,387.8 1,009,662.5 21,995.3
Qtr.I 120,069.7 205,741.8 570,182.1 6,646.3 4,500.0 979,262.1 83,268.5
Qtr.II 122,357.9 221,894.3 600,552.3 9,751.8 9,596.8 1,028,073.0 83,268.5
2018/19
Qtr.III 135,787.6 208,436.3 690,546.5 5,987.2 9,894.9 1,118,039.0 83,268.5
Qtr.IV 128,524.0 183,926.2 635,440.9 8,695.8 11,076.0 1,031,159.5 83,268.5
Qtr.I 159,613.1 210,503.5 616,810.6 8,886.7 14,477.8 1,070,195.8 83,268.5
Qtr.II 133,745.9 212,529.5 648,408.0 10,582.6 8,425.3 1,077,952.0 83,268.5
2019/20
Qtr.III 141,900.1 133,970.7 659,674.5 9,393.6 10,290.6 1,018,813.7 83,268.5
Qtr.IV 142,182.9 84,127.5 643,282.9 8,690.9 9,700.0 952,861.8 83,268.5
Qtr.I 145,183.0 99,180.5 613,828.1 8,195.6 12,300.0 941,460.1 83,268.5
Qtr.II 176,894.5 107,969.3 630,617.5 6,914.5 15,500.0 998,749.8 83,268.5
2020/21
Qtr.III 154,240.3 129,945.4 654,442.0 7,750.0 13,602.4 1,021,896.2 83,268.5
Qtr.IV 176,255.2 106,927.1 636,567.6 7,300.0 16,010.8 1,003,018.4 83,268.5
Qtr.I 169,292.8 127,007.6 677,243.3 13,809.6 10,437.5 1,056,812.1 83,268.5
Qtr.II 169,625.8 126,027.1 625,325.9 9,985.0 12,995.0 1,004,247.3 83,268.5
2021/22
Qtr.III 161,316.3 139,263.2 625,222.2 4,935.0 12,770.0 943,506.7 17,705.0
Qtr.IV 173,484.2 104,408.7 669,411.2 7,210.0 9,397.3 963,911.4 16,607.3
Qtr.I 166,296.6 147,176.4 649,322.3 4,500.0 2,000.0 969,295.3 6,500.0
Qtr.II 168,681.6 129,360.2 606,671.5 6,500.0 13,000.0 924,213.3 19,500.0
2022/23
Qtr.III 187,823.6 150,727.4 684,586.0 6,672.2 13,440.1 1,043,249.3 20,112.3
Qtr.IV 183,697.6 194,451.4 606,270.1 6,179.0 13,150.8 1,003,748.8 19,329.7
Qtr.I 154,992.4 145,961.7 596,183.3 7,400.0 7,900.0 912,437.4 15,300.0
2023/24
Qtr.II 198,679.4 209,934.2 645,535.7 7,698.2 11,503.8 1,073,351.3 19,202.0
Table 16: GDP By Economic Activity at Constant Prices (In millions of Birr)
2009 2010 2011 2012 2013 2014 2015
Sectors/Year 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23
Agriculture, Hunting and Forestry 579,022.9 599,331.4 622,220.3 648,711.8 684,775.8 726,412.8 771,163.0
Crop 374,649.8 392,291.8 404,049.6 422,966.5 446,919.4 477,801.1 511,777.5
Animal Farming and Hunting 153,170.4 154,038.0 163,279.5 168,722.4 178,571.3 186,759.1 195,057.3
Forestry 51,202.7 53,001.7 54,891.1 57,022.9 59,285.2 61,852.6 64,328.3
Fishing 1,389.4 1,546.7 1,581.8 1,625.9 1,653.4 2,015.5 2,794.3
Mining and Quarrying 4,296.9 3,402.8 2,658.9 5,089.3 10,960.7 11,624.5 10,796.1
Manufacturing 111,249.6 117,410.7 127,986.7 137,601.5 144,618.9 151,583.9 162,125.7
Large and Medium Scale Manufacturing 73,528.2 77,966.5 87,691.9 96,268.6 102,266.2 108,223.9 117,266.1
Small Scale and Cottage Industries 37,721.5 39,444.2 40,294.7 41,332.9 42,352.7 43,360.1 44,859.6
Electricity and Water 11,552.5 11,929.0 14,115.4 15,136.4 16,522.3 17,593.6 19,826.3
Construction 286,749.6 331,691.4 381,443.8 419,078.0 446,721.7 468,435.8 501,490.4
Whole Sale and Retail Trade 215,351.0 241,936.3 268,037.0 285,293.1 303,204.7 327,260.0 352,241.8
Hotels and Restaurants 41,625.2 44,335.3 48,143.8 49,220.4 50,484.9 54,536.5 60,146.9
Transport and Communications 215,351.0 241,936.3 104,436.2 105,646.1 113,090.7 124,120.5 139,047.5
Financial Intermediation 41,625.2 44,335.3 57,368.6 65,274.3 71,158.1 78,636.2 86,092.9
Real Estate, Renting and Business Activities 70,005.2 74,364.3 79,942.0 87,510.2 95,299.7 103,829.9 113,274.2
Public Administration and Defense 70,488.5 76,754.1 83,662.0 85,612.2 89,770.1 93,768.3 97,515.9
Education 41,031.0 42,520.8 44,221.6 44,784.1 45,694.9 46,432.3 47,583.1
Health and Social Work 16,767.9 18,153.4 20,747.2 23,414.2 26,554.3 29,413.0 32,650.5
Other Community , Social & Personal Services 19,198.4 20,178.0 21,454.2 21,995.5 22,426.8 22,890.2 23,400.6
Private Households with Employed Persons 16,633.3 17,276.0 17,707.4 18,115.5 18,515.9 18,939.5 19,329.1
Total 1,613,519.9 1,739,254.9 1,895,726.7 2,014,108.6 2,141,452.8 2,277,492.4 2,439,478.1
Less : FISIM 17,038.3 19,763.6 21,037.4 24,520.9 27,214.5 28,829.5 29,556.7
Gross Value Added at Constant Basic Prices 1,596,481.6 1,719,491.3 1,874,689.3 1,989,587.7 2,114,238.3 2,248,662.8 2,409,921.4
Taxes on Products 120,645.6 114,575.2 112,468.2 119,592.3 113,931.8 98,085.2 91,585.7
GDP at Constant Market Prices 1,717,127.2 1,834,066.5 1,987,157.5 2,109,180.1 2,228,170.1 2,346,748.0 2,501,507.2
Source:MoPD
Table 17: Growth Rate of GDP By Economic Activity at Constant Prices (In percent)
2009 2010 2011 2012 2013 2014 2015
Industry/Year 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23
Agriculture, Hunting and Forestry 6.7 3.5 3.8 4.3 5.6 6.1 6.2
Crop 8.2 4.7 3 4.7 5.7 6.9 7.1
Animal Farming and Hunting 4.2 0.6 6 3.3 5.8 4.6 4.4
Forestry 3.6 3.5 3.8 3.9 4.0 4.3 4.0
Fishing 0.5 11.3 2.3 2.8 1.7 21.9 38.6
Mining and Quarrying -29.8 -20.8 -21.9 91.4 115.4 6.1 -7.1
Manufacturing 24.7 5.5 7.7 7.5 5.1 4.8 7.0
Large and Medium Scale Manufacturing 19.2 6.0 10 9.8 6.2 5.8 8.4
Small Scale and Cottage Industries 36.9 4.6 3 2.6 2.5 2.4 3.5
Electricity and Water 4.9 3.3 4 7.2 9.2 6.5 12.7
Construction 20.7 15.7 15 9.9 6.6 4.9 7.1
Whole Sale and Retail Trade 6.5 12.3 11.7 6.4 6.3 7.9 7.6
Hotels and Restaurants 0.1 6.5 9 2.2 2.6 8.0 10.3
Transport and Communications 15.1 6.4 21 1.2 7.0 9.8 12.0
Financial Intermediation 18.3 10.7 10.1 10.2 9.0 10.5 9.5
Real Estate, Renting and Business Activities 4.4 6.2 7.5 9.5 8.9 9.0 9.1
Public Administration and Defense 13.2 8.9 9 2.3 4.9 4.5 4.0
Education -3.2 3.6 4 1.8 2.0 1.6 2.5
Health and Social Work 7.0 8.3 14.3 12.9 13.4 10.8 11.0
Other Community , Social & Personal Services 4.5 5.1 6.3 2.5 2.0 2.1 2.2
Private Households with Employed Persons 3.5 3.9 2.5 2.3 2.2 2.3 2.1
Total 10.2 7.8 8.9 6.2 6.3 6.4 7.1
Less : FISIM 17.6 16.0 7 14.2 11.0 5.9 2.5
Gross Value Added at Constant Basic Prices 10.1 7.7 9.0 6.1 6.3 6.4 7.2
Taxes on Products 1.6 -5.0 -1.8 6.3 -4.7 -13.9 -6.6
GDP at Constant Market Prices 9.5 6.8 8.3 6.1 5.6 5.3 6.6
Source: MoPD
Table 18: GDP by Economic Activity at Current Prices (In million Birr)
2008 2009 2010 2011 2012 2013 2014 2015
Industry/Year 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23
Agriculture, Hunting and Forestry 542,700 616,843 684,644 910,589.1 1,196,254.2 1,626,284.1 2,312,286.2 3,114,215.0
Crop 346,294 393,324 427,193 587,216.0 797,015.6 1,122,637.7 1,639,822.3 2,189,185.1
Animal Farming and Hunting 146,960 164,730 191,867 247,337.3 303,074.1 385,788.3 523,066.6 731,290.9
Forestry 49,447 58,788 65,584 76,035.8 96,164.4 117,858.2 149,397.2 193,738.9
Fishing 1,382 2,259 2,351 3,020.6 3,747.5 5,034.3 5,351.5 7,481.6
Mining and Quarrying 6,117 4,840 4,053 3,368.1 9,643.4 30,909.1 34,587.9 29,329.9
Manufacturing 89,247 113,387 128,200 150,530.5 178,972.3 199,934.1 261,122.9 390,709.0
Large and Medium Scale Manufacturing 61,687 74,763 84,791 104,723.1 125,757.6 141,915.1 185,656.5 285,203.1
Small Scale and Cottage Industries 27,559 38,624 43,410 45,807.5 53,214.7 58,019.0 75,466.4 105,505.9
Electricity and Water 11,015 13,714 15,026 18,726.4 23,826.9 30,434.9 34,860.6 53,134.9
Construction 237,545 300,209 452,978 495,283.1 567,201.4 687,236.9 1,068,150.2 1,661,757.3
Whole Sale and Retail Trade 202,241 225,076 275,513 360,656.3 444,506.1 554,457.8 801,596.4 1,129,865.3
Hotels and Restaurants 41,601 44,922 53,441 66,596.7 79,304.1 95,766.7 129,976.7 195,338.3
Transport and Communications 70,453 77,659 82,947 99,884.4 140,312.7 183,481.3 251,762.7 314,877.2
Financial Intermediation 39,769 51,810 69,359 85,044.1 102,994.4 122,893.7 180,666.7 238,373.1
Real Estate, Renting and Business Activities 67,063 70,793 79,553 106,157.2 154,804.2 228,594.8 404,030.6 715,651.7
Public Administration and Defense 62,259 80,817 94,614 103,262.3 120,235.7 159,154.9 188,988.2 260,507.3
Education 42,386 61,123 75,776 85,738.9 94,199.3 116,406.3 127,857.9 164,357.3
Health and Social Work 15,669 18,770 24,100 27,328.0 34,927.8 40,104.3 47,995.9 60,118.6
Other Community , Social & Personal Services 18,371 20,568 23,634 28,140.8 33,305.6 39,400.7 49,977.4 66,077.1
Private Households with Employed Persons 16,064 19,879 25,428 31,181.0 38,264.3 45,764.8 67,753.0 80,607.1
Total 1,463,883 1,722,669 2,091,618 2,575,507.5 3,222,499.9 4,165,858.8 5,966,964.9 8,482,400.7
Less : FISIM 14,486 18,870 26,829 31,884.3 39,104.0 46,801.9 67,289.5 79,436.0
Gross Value Added at Constant Basic Prices 1,449,397 1,703,798 2,064,789 2,543,623.2 3,183,395.8 4,119,057.0 5,899,675.3 8,402,964.6
Taxes on Products 118,700 128,755 137,583 152,599.6 191,351.1 221,967.3 257,339.9 319,343.1
GDP at Current Market Prices 1,568,097 1,832,554 2,202,373 2,696,222.7 3,374,746.9 4,341,024.2 6,157,015.2 8,722,307.7
Source: MoPD

22
Table 19: Growth Rates of GDP by Economic Activity at Current Prices (%)
2008 2009 2010 2011 2012 2013 2014 2015
Sectors/Year
2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23
Agriculture, Hunting and Forestry 12.1 13.7 11.0 33.0 32.6 35.9 42.2 34.7
Crop 11.9 13.6 8.6 37.5 35.7 40.9 46.1 33.5
Animal Farming and Hunting 11.1 12.1 16.5 28.9 27.0 27.3 35.6 39.8
Forestry 16.1 18.9 11.6 16.2 26.5 22.6 26.8 29.7
Fishing 12.8 63.5 4.1 28.5 24.1 34.3 6.3 39.8
Mining and Quarrying -2.3 -20.9 -16.3 -16.9 186.3 220.5 11.9 (15.2)
Manufacturing 7.0 27.0 13.1 17.4 18.9 11.7 30.6 49.6
Large and Medium Scale Manufacturing 6.3 21.2 13.4 20.2 20.1 12.8 30.8 53.6
Small Scale and Cottage Industries 10.4 40.1 12.4 3.0 16.2 9.0 30.1 39.8
Electricity and Water 4.3 24.5 9.6 20.7 27.2 27.7 14.5 52.4
Construction 60.3 26.4 50.9 9.3 14.5 21.2 55.4 55.6
Whole Sale and Retail Trade 8.1 11.3 22.4 32.4 23.2 24.7 44.6 41.0
Hotels and Restaurants 22.9 8.0 19.0 25.1 19.1 20.8 35.7 50.3
Transport and Communications 22.4 10.2 6.8 20.4 40.5 30.8 37.2 25.1
Financial Intermediation 21.7 30.3 33.9 22.6 12.2 19.3 47.0 31.9
Real Estate, Renting and Business Activities 5.1 5.6 12.4 33.4 45.8 47.7 76.7 77.1
Public Administration and Defense 20.8 29.8 17.1 9.1 16.4 32.4 18.7 37.8
Education 19.8 44.2 24.0 13.1 11.3 23.6 9.8 28.5
Health and Social Work 21.3 19.8 28.4 13.4 27.8 14.8 19.7 25.3
Other Community , Social & Personal Services 9.9 12.0 14.9 19.1 18.4 18.3 26.8 32.2
Private Households with Employed Persons 4.8 23.7 27.9 22.6 22.7 19.6 48.0 19.0
Total 18.2 17.7 21.4 23.3 25.3 29.3 43.2 42.2
Less : FISIM 24.6 30.3 42.2 22.0 13.8 19.7 43.8 18.1
Gross Value Added at Current Basic Prices 18.2 17.6 21.2 23.3 25.4 29.4 43.2 42.4
Taxes on Products 12.8 12.9 6.9 10.9 25.4 16.0 15.9 24.1
GDP at Current Market Prices 17.7 16.9 20.2 22.4 25.2 28.6 41.8 41.7
Source: MoPD

23
Table 20: Value of Aggregate Output, Consumption, Investment and Savings at Current Prices (In Millions of Birr)
2008 2009 2010 2011 2012 2013 2014 2015
Description / Year 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23
Gross Value Added at Current Basic Prices 1,449,397.5 1,703,798.2 2,064,789.2 2,543,623.0 3,183,395.8 4,119,056.00 5,899,675.3 8,402,964.6
Taxes on Products, net 118,700.0 128,755.5 137,583.5 152,600.0 191,351.1 221,967.0 257,339.9 319,343.1
GDP at Current Market Prices 1,568,097.5 1,832,553.7 2,202,372.7 2,696,223.0 3,374,746.9 4,341,024.0 6,157,015.2 8,722,307.7
Incomes from ROW, net (5,122.4) (10,884.1) (14,349.1) (13,104.0) (19,203.0) (22,381.0) (27,861.8) (22,028.7)
Gross National Income at Current Basic Prices 1,444,275.0 1,692,914.1 2,050,440.2 2,530,519.0 3,164,192.9 4,096,676.0 5,871,813.5 8,380,935.9
Gross National Income at Current Market Prices 1,562,975.0 1,821,669.6 2,188,023.6 2,683,118.6 3,355,544.0 4,318,643.7 6,129,153.5 8,700,279.0
Current Transfers from ROW, net 155,964.2 154,959.4 188,527.3 240,392.0 210,332.1 292,126.0 400,304.3 420,452.7
Gross National Disposable Income 1,718,939.2 1,976,628.9 2,376,550.9 2,923,510.0 3,565,876.0 4,610,770.0 6,529,457.8 9,120,731.7
Government Final Consumption Expenditure 174,598.8 203,607.9 225,523.2 247,362.0 308,096.7 383,565.0 453,263.1 551,106.6
Private Final Consumption Expenditure 1,042,264.6 1,219,365.9 1,441,581.1 1,848,070.0 2,363,783.1 3,135,110.0 4,765,752.5 6,882,737.9
Gross Capital Formation (Investment) 585,665.0 704,596.0 751,626.2 948,866.0 1,031,962.8 1,216,585.0 1,560,324.8 1,933,863.0
Exports of Goods and Services 122,500.8 139,830.1 184,282.1 213,437.0 240,525.0 331,294.0 507,581.9 575,061.6
Imports of Goods and Services 424,749.9 430,233.2 502,112.9 561,512.0 569,620.6 725,530.0 1,129,907.1 1,220,461.4
Resource Balance (302,249.2) (290,403.1) (317,830.8) (348,075.0) (329,095.7) (394,236.0) (622,325.2) (645,399.8)
Gross Domestic Savings 351,234.0 409,579.8 535,268.5 600,791.0 702,867.1 822,349.0 937,999.6 1,288,463.2
Gross National Savings 502,075.8 553,655.1 709,446.7 828,078.0 893,996.2 1,092,095.0 1,310,442.1 1,686,887.2
Mid-year Population (In Million) 91.2 93.4 95.5 97.6 99.7 101.9 104.1 105.7
Per Capita Nominal GDP (In Birr) 17,192.4 19,630.4 23,061.5 27,625.0 33,849.0 42,595.0 59,155.4 82,513.8
Per Capita Real GDP (In Birr) 17,192.4 18,393.9 19,204.9 20,312.5 21,155.3 21,860.5 22,578.4 23,642.9
Average Exchange Rate (Birr/USD) 21.1 22.4 26.1 28.1 31.3 39.0 48.6 53.3
Real GDP (In USD) 74,296.6 76,610.6 70,249.0 70,666.9 67,294.2 57,101.7 48,386.5 46,904.8
Nominal GDP (In USD)(Million) 74,296.6 81,760.4 84,356.0 96,107.0 107,672.6 111,261.9 126,772.7 163,697.8
Per Capita Nominal GDP (In USD) 814.6 875.8 883.3 985.0 1,080.0 1,091.8 1,218.0 1,549.0
Per Capita Real GDP (In USD) 814.6 820.7 735.6 724.3 675.0 560.3 464.9 443.8
GDP Deflator 1.00 1.07 1.20 1.36 1.60 1.95 2.62 3.49
Source: MoPD

24
Table 21: Growth Rates of Aggregate Output, Consumption, Investment and Savings
2008 2009 2010 2011 2012 2013 2014 2015
Description / Year 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2021/23
GDP at Current Basic Prices 18.2 17.6 21.2 23.3 25.2 29.4 43.2 42.4
Taxes on Products, net 12.9 8.5 6.9 10.9 25.4 16.0 15.9 24.1
GDP at Current Market Prices 17.7 16.9 20.2 22.5 25.2 28.6 41.8 41.7
Incomes from ROW, net (2.9) (112.5) (31.8) (33.0) 46.5 16.5 24.5 -20.9
Gross National Income at Current Basic Price 18.3 17.2 21.1 23.3 25.0 29.5 43.3 42.7
Gross National Income at Current Market Price 17.8 16.6 20.1 22.5 25.1 28.7 41.9 41.9
Current Transfers from ROW, net 21.5 (0.6) 21.7 25.7 (12.5) 38.9 37.0 5.0
Gross National Disposable Income 18.1 15.0 20.2 22.8 22.0 29.3 41.6 39.7
Government Final Consumption Expenditure 27.2 16.6 10.8 9.7 24.6 24.5 18.2 21.6
Private Final Consumption Expenditure 15.7 17.0 18.2 27.9 27.9 32.6 52.0 44.4
Gross Capital Formation (Investment) 15.1 20.3 6.7 26.2 8.8 17.9 28.3 23.9
Exports of Goods and Services 0.8 14.1 31.8 15.9 12.7 37.7 53.2 13.3
Imports of Goods and Services 8.0 1.3 16.7 11.8 1.4 27.4 55.7 8.0
Resource Balance (11.3) 3.9 (9.4) (9.5) (5.5) 19.8 57.9 3.7
Gross Domestic Savings 19.4 16.6 30.7 12.2 17.0 17.0 14.1 37.4
Gross National Savings 20.3 10.3 28.1 16.4 8.0 22.2 20.0 28.7
Mid-year Population (in Million) 2.4 2.4 2.3 2.2 2.2 2.2 2.1 1.5
Per Capita GDP (Birr) (Nominal) 15.0 14.2 17.5 19.8 22.5 25.8 38.9 39.5
Per Capita GDP (Birr) (Real) 5.0 7.0 4.4 5.8 4.1 3.3 3.3 4.7
Average Exchange Rate (Birr/USD) 5.0 6.2 16.5 7.6 11.5 24.5 24.5 9.7
Real GDP (USD) 2.4 3.1 (8.3) 0.6 (4.8) -15.1 -15.3 -3.1
GDP at Current Market Prices(USD) 12.1 10.0 3.2 13.7 12.0 3.3 13.9 29.1
Per Capita GDP (USD) (Nominal) 9.5 7.5 0.9 11.5 9.6 1.1 11.6 27.2
Per Capita GDP (USD) (Real) 0.0 0.7 (10.4) (1.5) (6.8) -17.0 -17.0 -4.5
Percentage Change in GDP Deflator 9.5 6.7 12.5 13.3 17.6 21.8 34.5 33.2
Source:MoPD
Table 22(A): National Non-Food Consumer Price Index,

Hosing, Water, Electricity,

Maintenance of the House

Alcoholic Beverages and
Food and Non-Alcoholic

Furnishings, Household
Equipment and Routine

Recreation and Culture

Restaurants and Hotels

Clothing & Foot-wear

Miscellaneous Goods
Gas and Other Fuels

Non-Food Index
Communication
General Index

Beverages

Education
Transport
Tobacco

Health
Period

2015/16
Q.I 94.4 93.9 93.6 96.3 87.7 91.2 87.6 96.5 103.9 83.7 91.4 88.0 94.7 90.8
Q.II 94.3 94.8 94.6 96.8 87.7 92.8 92.0 98.2 101.3 88.2 99.8 90.8 95.6 91.8
Q.III 94.9 95.2 101.3 97.9 91.1 95.9 93.8 97.2 100.3 91.1 99.8 92.6 96.5 94.6
Q.IV 97.8 98.7 94.9 99.0 97.0 96.9 97.4 97.0 101.5 92.3 99.9 94.9 97.8 96.9
2016/17
QI 100.4 102.5 92.4 99.2 100.1 97.7 95.1 98.1 99.7 93.5 100.0 97.6 98.5 98.2
QII 100.4 101.3 97.3 99.5 100.1 99.2 98.8 99.3 99.9 98.4 100.0 99.1 99.0 99.4
QIII 102.4 103.0 104.4 100.7 102.3 101.2 104.3 103.9 99.8 99.0 100.0 98.1 100.9 101.7
QIV 106.5 109.5 98.3 102.1 102.8 107.9 113.4 104.7 102.1 111.6 99.4 101.6 101.9 103.0
2017/18
QI 112.0 113.9 104.5 116.0 113.3 111.1 97.0 106.3 101.7 113.1 106.0 107.9 102.2 109.9
QII 115.6 116.6 110.7 119.8 119.7 115.3 92.9 108.9 103.4 114.0 107.5 113.5 104.5 114.5
QIII 118.8 118.7 117.3 126.3 123.4 122.4 99.9 111.4 105.9 117.9 109.2 114.0 109.5 118.9
QIV 122.8 123.1 108.2 135.8 127.8 129.1 101.3 113.2 107.2 120.9 110.4 118.6 115.6 122.5
2018/19
QI 127.4 128.2 112.3 141.1 131.3 133.9 107.2 115.5 106.7 122.6 117.5 123.7 119.6 126.5
QII 127.9 128.3 112.3 144.7 130.0 136.3 110.6 119.7 101.1 124.9 125.8 128.1 119.8 127.4
QIII 131.9 132.0 121.2 150.7 133.1 141.5 116.0 128.9 101.5 126.6 126.3 130.8 123.6 131.8
QIV 141.0 145.6 125.1 151.6 137.0 147.4 114.8 132.3 105.5 127.7 129.5 135.7 131.4 135.7
2019/20
QI 149.5 156.6 127.0 156.4 144.7 150.0 120.2 136.0 105.6 129.8 132.6 145.9 135.6 141.4
QII 153.1 158.5 131.5 158.6 153.8 151.4 126.6 139.5 102.8 141.4 134.1 152.0 139.8 146.8
QIII 159.6 164.5 137.4 159.7 167.2 153.6 130.3 146.6 101.0 143.2 134.3 156.7 145.5 153.9
QIV 171.2 179.2 163.0 167.1 168.5 156.4 143.4 192.6 108.1 140.3 135.6 159.3 149.5 161.9
2020/21
QI 179.9 192.1 158.5 170.3 172.2 158.7 147.4 218.3 106.1 140.2 130.3 165.2 155.3 165.8
QII 181.9 193.7 168.8 177.3 174.8 159.8 155.9 171.1 104.3 153.9 145.6 176.7 161.3 168.3
QIII 191.9 201.8 176.8 185.6 188.5 173.6 170.6 200.0 117.3 163.1 149.9 183.3 169.3 180.4
QIV 207.7 224.0 184.0 199.0 189.2 196.7 189.6 209.5 125.9 175.6 152.8 192.8 184.7 188.9
2021/22
QI 234.9 263.5 202.5 213.2 202.0 217.8 206.3 209.0 119.9 189.2 164.9 205.3 195.1 201.8
QII 244.0 271.9 218.7 223.0 211.4 228.2 221.6 209.3 121.0 220.7 184.8 218.6 200.3 211.9
QIII 257.7 286.3 240.5 225.8 223.2 249.4 232.8 217.3 125.8 238.3 190.1 233.4 215.8 224.6
QIV 282.2 317.0 259.4 250.3 227.7 292.5 246.9 223.5 129.9 256.6 196.8 262.2 253.8 242.1
2022/23
QI 310.4 351.0 270.8 287.0 239.6 327.2 256.5 265.1 133.7 286.4 207.3 291.1 287.7 263.7
QII 325.9 360.4 298.9 307.6 260.5 360.7 268.2 278.8 127.5 350.6 222.5 312.1 326.5 286.1
QIII 343.8 378.0 324.1 327.9 276.2 386.7 293.6 276.8 128.3 359.9 223.5 335.5 351.5 304.4
QIV 370.1 410.0 333.5 351.6 295.1 416.3 329.7 290.3 133.4 357.7 231.3 361.3 369.4 324.2
2023/24
QI 398.0 444.5 359.5 354.6 320.4 438.9 371.2 297.2 161.4 359.9 227.8 382.9 378.6 344.5
QII 419.6 468.9 375.0 366.8 346.1 449.3 382.9 319.5 167.2 330.9 282.3 400.9 397.7 362.9
Source: Central Statistical Agency(CSA) and NBE Staff Compilation
Table 22 (B): National Food Consumer Price Index,
December 2016=100

Bread and Cereals

honey, chocolate
Fish & Sea Food

& confectionery
and Other Fuels
Electricity, Gas

Non-Alcoholic
Hosing,Water,

Food products
Food & Non-

Sugar, jam,
Oils & Fats

Vegetables
Beverages

Beverages
alcoholic

Fruits
Period

Meat
2015/16
Q.I 97.9 94.3 90.9 90.1 102.9 88.7 96.6 76.3 131.6 87.8
QII 96.6 94.0 92.1 92.2 99.5 95.7 96.5 77.0 120.8 85.1
QIII 95.2 95.7 92.8 96.9 96.6 96.2 96.5 81.7 101.2 81.1
QIV 98.7 98.2 96.4 100.2 99.7 96.1 103.0 83.9 101.8 84.1
2016/17
Q.I 102.6 102.9 100.7 99.4 99.9 98.7 106.8 86.7 104.6 92.3
Q.II 101.3 102.7 100.6 100.0 100.8 99.3 99.6 100.0 94.6 105.6 99.3
Q.III 103.0 100.7 100.8 98.9 103.8 102.3 103.2 107.4 96.1 109.2 97.3
Q.IV 109.5 110.9 106.9 100.4 108.3 101.7 106.6 114.7 93.9 117.9 97.0
2017/18
QI 113.9 123.6 113.8 101.1 108.5 100.5 119.5 110.2 94.4 122.0 101.3
QII 116.6 125.7 115.7 104.2 112.4 96.9 128.9 113.8 95.9 125.0 108.5
QIII 118.7 123.6 123.0 101.1 115.7 95.1 134.4 120.4 97.2 133.5 105.2
QIV 123.1 133.8 131.5 110.8 122.8 95.1 133.8 116.9 98.1 137.4 109.7
2018/19
QI 128.2 139.7 137.0 112.1 127.8 95.9 133.1 124.8 102.1 136.9 115.9
QII 128.3 140.0 137.1 114.2 129.8 97.5 141.0 124.3 105.3 137.8 112.1
QIII 132.0 142.1 142.0 115.3 135.3 98.0 147.9 133.6 106.7 143.2 106.5
QIV 145.7 156.8 157.9 113.3 145.6 104.6 160.2 157.8 112.0 148.1 109.6
2019/20
QI 156.6 175.6 170.3 114.5 149.8 107.8 168.7 167.2 115.3 153.1 116.0
QII 158.5 182.5 174.5 116.7 149.1 106.5 183.1 163.4 112.7 153.8 119.3
QIII 164.5 182.7 179.2 122.9 153.4 112.9 187.7 171.3 104.9 177.4 127.5
QIV 179.2 201.5 189.6 139.2 158.9 118.5 187.0 189.1 107.1 195.5 137.9
2020/21
QI 192.1 216.9 192.7 150.7 163.3 123.7 175.9 208.2 106.2 209.3 151.4
QII 193.7 223.7 196.3 148.8 172.5 135.7 182.6 192.9 114.1 210.0 159.7
QIII 201.8 233.6 200.6 158.4 191.7 147.3 195.4 202.0 117.9 213.4 159.4
QIV 224.0 265.3 225.7 161.6 216.8 181.1 204.5 212.4 120.3 234.8 170.8
2021/22
QI 263.5 320.2 252.0 188.2 223.4 241.9 219.6 235.9 124.5 284.7 210.2
QII 271.9 326.9 250.1 193.3 227.2 250.6 253.6 243.7 138.9 294.4 231.9
QIII 286.4 332.5 262.5 194.1 254.6 285.6 254.9 256.3 146.8 298.1 271.9
QIV 317.0 357.0 303.2 259.7 301.7 323.7 265.5 291.2 148.1 315.0 312.1
2022/23
QI 351.0 400.8 342.7 401.8 332.3 400.2 313.8 304.8 163.1 329.8 349.7
QII 360.4 414.1 357.3 437.9 342.0 403.6 352.0 307.5 170.5 338.3 362.2
QIII 378.0 441.6 374.0 459.8 366.3 392.6 381.0 339.1 193.3 342.6 346.1
QIV 410.0 492.3 417.6 435.9 384.2 384.2 395.9 384.7 218.8 349.6 347.1
2023/24
QI 444.5 547.0 447.5 385.4 408.4 417.0 406.0 421.1 226.0 355.9 361.0
QII 468.9 594.6 461.2 391.2 424.9 392.1 424.0 456.1 230.6 366.9 357.5
Source: CSA and NBE Staff Compilation
Table 22 (C): Addis Ababa Non-Food Consumer Price Index

Housing, Water, Electricity,

Maintenance of the House

Furnishings, Household
Equipment and Routine

Recreation and Culture

Alcoholic beverages &

Restaurants and Hotels

Food & Non-alcoholic

Clothing & Foot-wear

Miscellaneous Goods
Gas and Other Fuels

Communication

Non-Food Index
General Index

Beverages

Education
Transport
Tobacco

Health
Period

2015/16
Q.I 101.4 107.4 95.7 99.8 97.7 96.1 96.8 99.7 100.0 98.0 83.4 93.9 98.2 96.8
QII 100.8 103.3 99.4 100.5 98.2 98.0 99.9 100.0 100.0 99.6 100.0 98.0 99.2 98.9
QIII 98.2 97.0 98.4 101.4 96.5 103.8 102.3 98.3 100.0 101.3 100.0 99.4 101.6 99.2
QIV 100.6 101.7 100.4 103.5 96.4 105.4 102.7 97.5 100.0 103.5 100.0 100.5 102.5 99.7
2016/17
QI 103.9 107.3 109.8 105.0 97.9 107.8 103.6 97.5 100.0 105.0 100.0 103.3 102.1 101.3
QII 101.5 102.2 104.7 104.0 98.6 105.1 102.5 98.3 100.0 104.4 100.0 102.5 101.2 100.9
QIII 100.9 100.4 103.8 100.6 101.7 101.7 98.5 104.1 100.0 99.5 97.4 100.1 103.2 101.3
QIV 104.1 104.4 100.9 94.8 103.0 107.5 107.6 107.9 114.4 105.4 96.9 99.9 102.5 103.8
2017/18
QI 112.3 109.2 103.3 98.8 133.7 114.3 113.7 106.5 115.3 107.3 100.4 104.9 100.9 114.8
QII 117.6 110.3 103.0 101.2 151.3 120.5 113.9 106.9 116.5 107.3 99.9 118.5 106.5 123.1
QIII 121.1 113.1 112.7 104.8 158.3 126.6 117.3 107.7 116.8 109.7 99.7 120.2 111.3 127.2
QIV 127.1 117.7 114.1 111.3 170.0 132.4 131.8 109.4 116.8 112.2 100.1 127.5 119.4 134.2
2018/19
QI 132.1 125.2 115.1 113.8 171.4 136.5 130.1 113.6 116.8 112.4 113.3 136.1 122.4 137.4
QII 133.0 123.7 116.1 115.5 172.8 142.5 135.8 116.1 120.4 112.6 122.3 137.7 123.1 140.0
QIII 137.5 127.5 126.1 116.3 186.6 147.0 133.0 117.8 119.2 112.8 120.8 138.7 127.0 145.1
QIV 145.3 141.4 127.1 121.1 188.3 153.5 139.6 121.5 118.0 115.7 121.9 142.9 130.7 148.2
2019/20
QI 152.8 155.5 126.7 123.3 192.5 155.8 140.5 123.6 118.3 118.2 125.4 144.9 134.5 150.8
QII 156.7 157.1 125.2 121.4 207.3 160.0 138.4 125.9 116.8 125.2 128.4 149.4 140.2 156.5
QIII 163.1 160.9 149.7 131.6 225.7 163.9 150.4 124.3 114.6 124.4 132.1 154.1 143.7 164.9
QIV 178.2 178.6 174.4 138.2 241.2 164.8 155.8 191.5 114.8 119.9 130.6 154.6 147.9 177.9
2020/21
QI 186.4 197.7 179.4 149.4 236.5 165.7 162.7 181.7 115.0 122.1 118.1 158.2 154.1 177.7
QII 185.7 194.4 175.0 155.2 243.1 169.9 169.6 149.6 115.5 132.1 143.2 160.8 159.0 179.2
QIII 193.6 201.4 188.1 165.5 254.3 181.6 184.4 155.2 115.6 131.1 150.5 167.2 166.7 187.7
QIV 212.2 229.5 209.6 176.6 267.7 202.7 188.3 161.4 116.8 135.2 148.7 179.1 180.8 199.0
2021/22
QI 234.8 265.3 218.9 191.5 281.4 221.6 208.1 161.7 117.7 153.3 161.3 198.6 192.5 211.7
QII 242.0 270.1 223.0 195.0 286.3 241.8 221.4 163.9 118.1 182.2 195.9 214.3 201.0 220.7
QIII 253.7 277.5 233.8 209.3 300.0 257.0 241.6 188.7 118.8 204.7 198.8 236.7 213.5 235.6
QIV 279.3 311.6 256.4 239.8 306.7 289.2 278.1 192.3 122.6 231.8 201.1 271.5 257.6 254.8
2022/23
QI 308.7 346.3 290.0 266.9 328.2 319.3 283.7 238.7 127.5 261.8 214.3 303.7 283.2 280.1
QII 323.2 358.0 312.9 312.6 327.6 355.8 327.1 260.9 129.6 280.3 212.0 309.3 322.0 296.7
QIII 355.7 381.5 331.8 357.8 402.9 382.5 341.4 273.6 131.2 295.3 217.4 345.0 361.7 336.1
QIV 399.1 438.2 349.0 389.4 458.9 408.6 368.7 303.2 131.9 286.5 227.4 384.0 381.0 369.3
2023/24
QI 425.4 471.9 390.1 382.2 405.5 502.5 417.1 394.0 295.4 135.4 343.3 228.5 397.0 406.7
QII 447.0 500.3 406.5 397.3 426.6 525.9 427.4 399.7 316.2 135.1 318.3 298.2 404.7 426.6
Table 22(D): Addis Ababa Food Consumer Price Index

Sugar, jam, honey, chocolate

Non-Alcoholic Beverages
Food & Non-alcoholic

Milk, Cheese & Egg

Bread and Cereals

and confectionery
Fish & Sea Food

Food products
Oils & Fats

Vegetables
Beverages
Period

Fruits
Meat
2016/17
QI 106.7 98.6 101.1 98.9 103.0 103.3 122.3 96.8 130.7 93.1
QII 101.8 102.3 100.8 100.0 99.8 102.1 96.9 100.8 96.5 112.0 97.4
QIII 100.4 98.6 97.6 91.6 101.8 105.0 108.8 105.5 100.0 93.8 97.7
QIV 104.4 101.8 106.4 99.9 102.2 107.3 118.7 112.6 99.0 86.1 94.2
2017/18
QI 109.2 109.9 114.6 101.9 105.6 109.5 134.3 111.4 100.0 86.6 100.4
QII 110.3 112.8 114.8 98.4 105.5 109.1 132.5 106.9 100.0 104.0 105.8
QIII 113.1 111.2 117.2 100.4 110.2 110.2 140.3 106.2 100.0 155.7 105.2
QIV 117.7 117.4 126.0 112.3 121.4 114.8 139.3 105.6 100.0 160.3 105.7
2018/19
QI 125.2 124.7 130.0 109.2 125.3 116.0 135.4 123.0 100.0 161.4 109.3
QII 123.7 125.5 127.9 110.4 129.0 116.1 138.4 117.6 100.0 154.7 109.6
QIII 127.5 129.6 135.4 119.4 128.7 117.3 151.8 121.0 100.0 154.9 109.6
QIV 141.4 136.3 151.8 114.2 134.9 122.0 170.9 155.0 114.1 154.1 112.8
2019/20
QI 155.5 155.6 164.5 133.0 142.5 131.2 176.5 171.6 114.1 162.7 116.0
QII 157.1 159.2 171.8 129.1 147.0 133.8 184.5 162.4 114.1 171.0 118.7
QIII 160.9 162.1 175.2 131.2 146.6 142.2 190.7 163.6 114.1 183.3 127.6
QIV 178.6 181.4 182.7 138.1 153.6 150.4 175.8 185.0 114.1 256.7 138.8
2020/21
QI 197.7 194.1 191.8 191.4 158.2 158.2 160.1 218.4 109.3 353.2 144.3
QII 211.7 220.8 213.6 181.0 174.8 184.7 205.2 185.9 141.3 414.7 163.2
QIII 201.4 212.8 197.9 188.5 170.7 174.0 205.1 180.1 141.3 369.3 161.4
QIV 229.5 233.9 238.1 179.6 185.1 204.9 211.6 195.0 141.0 501.2 167.2
2021/22
QI 265.3 255.7 267.8 259.0 211.7 236.2 218.5 225.8 143.6 705.6 202.2
QII 270.1 274.0 256.8 296.5 216.8 273.7 237.9 234.2 181.0 577.5 219.8
QIII 277.5 278.5 268.6 229.5 222.9 317.5 261.0 232.3 191.0 522.6 266.5
QIV 311.6 288.7 328.4 305.3 261.9 381.4 279.1 279.9 195.2 538.4 285.4
2022/23
QI 346.3 320.3 356.2 322.2 304.5 470.2 322.1 314.7 231.7 520.8 316.8
QII 358.0 336.7 379.4 317.8 320.4 493.8 359.1 298.3 234.9 543.8 339.9
QIII 381.5 392.0 406.5 334.8 343.2 415.7 417.1 312.8 332.2 542.1 348.2
QIV 438.2 463.4 454.9 346.3 377.9 426.6 405.9 409.1 336.4 550.4 353.3
2023/24
QI 471.9 497.6 472.9 337.6 406.0 455.0 413.6 464.1 346.7 596.1 367.3
QII 500.3 551.8 485.0 377.0 431.3 440.3 424.6 504.2 349.6 581.2 372.2
Table 22 (E1): Regional States' Consumer Price Indices (Non-Food)

Food & Non-alcoholic Index

Housing, Water, Electricity,

Maintenance of the House

Furnishings, Household
Equipment and Routine

Recreation and Culture

Alcoholic beverages &

Restaurants and Hotels

Clothing & Foot-wear

Miscellaneous Goods
Gas and Other Fuels

Communication
Non-Food Index
General Index

Education
Transport
Tobacco

Health
Period

AFAR
2016/17
QI 103.1 104.0 102.2 97.6 97.8 108.0 101.6 114.6 95.8 100.0 99.3 0.0 96.1 96.8
QII 101.4 103.8 98.9 104.3 97.1 97.1 101.6 106.0 98.8 100.0 97.8 33.3 98.5 98.9
QIII 101.4 102.3 100.6 94.3 100.0 104.3 99.3 110.1 95.6 100.7 97.4 100.0 99.8 99.2
QIV 105.4 105.2 105.6 93.3 107.5 114.2 102.0 118.1 105.1 100.7 111.8 92.0 99.6 97.8
2017/18
QI 108.5 109.8 107.2 101.1 105.3 117.3 100.5 120.4 112.9 99.9 110.5 101.3 97.1 98.2
QII 112.8 115.8 109.9 101.1 114.6 117.7 103.4 107.2 123.3 99.8 119.5 98.5 103.5 103.4
QIII 116.8 117.0 116.6 131.6 120.9 114.2 106.8 107.7 123.3 99.9 129.7 95.5 114.9 110.0
QIV 116.7 116.2 117.2 120.4 121.4 120.2 110.8 108.6 123.3 100.5 130.5 93.5 111.4 118.4
2018/19
QI 120.7 124.2 117.4 115.0 124.5 117.8 116.7 109.1 118.8 100.5 132.5 101.9 117.2 118.8
QII 121.1 124.3 118.0 105.4 121.8 116.1 143.9 93.2 124.8 101.6 174.1 110.8 120.1 118.4
QIII 124.2 126.1 122.4 93.6 123.1 134.9 152.0 91.8 123.3 104.0 176.0 115.0 117.5 123.0
QIV 131.7 136.2 127.4 95.7 132.5 139.3 153.7 94.9 130.9 104.5 177.8 115.0 126.1 127.4
2019/20
QI 140.5 151.7 129.6 95.3 134.9 130.6 153.0 102.9 170.3 103.4 164.8 114.8 145.6 141.0
QII 134.9 142.0 128.1 97.7 131.2 135.2 154.0 96.9 149.2 103.6 172.8 114.5 134.2 132.6
QIII 151.1 158.7 143.8 116.7 154.4 135.7 165.2 109.7 218.4 103.6 192.1 118.7 165.5 148.0
QIV 158.7 174.6 143.2 134.0 156.7 125.6 169.5 101.2 222.3 104.6 192.7 127.2 153.7 150.3
2020/21
QI 170.8 179.9 162.0 159.3 168.1 152.7 170.6 106.4 322.8 104.6 189.5 141.0 165.7 150.7
QII 169.1 186.3 152.3 143.3 171.7 134.4 173.3 123.9 203.4 104.6 213.4 119.6 167.4 156.5
QIII 174.3 195.6 153.6 139.4 171.8 136.4 176.6 136.3 203.4 104.6 218.6 118.7 168.3 160.6
QIV 191.7 224.9 159.6 133.1 180.5 145.1 186.9 154.1 218.4 104.6 227.8 133.0 170.3 161.9
2021/22
QI 216.5 256.8 177.6 143.3 180.0 188.9 203.2 161.0 218.4 104.6 249.6 156.4 182.1 183.3
QII 223.0 268.3 179.1 156.8 188.8 173.8 214.1 155.7 203.4 104.6 303.9 171.2 191.3 193.7
QIII 233.3 274.4 193.5 172.7 197.0 197.1 228.9 165.1 218.4 104.6 319.7 175.3 196.8 208.5
QIV 268.7 313.4 225.5 193.3 237.8 245.6 276.5 161.8 218.4 104.6 358.9 226.0 212.1 239.4
2022/23
QI 300.1 356.1 245.9 189.2 258.5 253.3 328.6 189.6 256.2 104.6 419.2 240.7 255.4 279.4
QII 317.3 376.4 260.1 176.3 272.2 251.1 373.4 209.5 327.5 104.6 501.3 240.3 265.3 364.7
QIII 342.0 398.4 287.5 209.0 286.9 275.1 415.1 304.4 305.0 104.6 519.9 193.2 291.2 404.5
QIV 378.0 438.2 319.7 226.0 308.8 320.9 448.7 342.9 387.5 104.6 521.5 230.5 321.8 430.0
2023/24
QI 412.0 487.8 338.6 211.4 351.1 324.3 475.0 404.1 436.8 126.3 541.9 282.8 356.9 431.5
QII 434.3 521.0 350.4 208.2 418.2 300.8 491.8 431.3 457.9 152.2 504.5 365.1 363.4 452.6
Source: Central Statistical Agency
Table 22 (E2): Regional States' Consumer Price Indices (Non-Food)
December 2016 = 100

Maintenance of the House

Electricity, Gas and Other

Furnishings, Household
Equipment and Routine

Recreation and Culture

Alcoholic beverages &

Restaurants and Hotels

Food & Non-alcoholic

Clothing & Foot-wear

Miscellaneous Goods
Communication
Non-Food Index

Housing, Water,
General Index

Education
Transport
Tobacco

Health
Period

Index

Fuels
AMHARA
2015/16
Q.I 89.7 91.5 87.8 95.8 103.5 79.6 90.1 90.0 94.4 108.7 86.6 100.0 86.5 92.7
Q.II 90.9 92.7 89.0 95.9 101.8 80.6 92.4 89.1 101.4 97.7 94.9 100.0 89.7 93.1
Q.III 92.4 93.0 91.7 99.3 102.2 84.5 94.9 97.3 96.3 98.3 96.2 100.0 92.1 94.1
Q.IV 94.9 95.1 94.5 98.9 103.3 89.1 96.1 94.4 101.9 98.8 93.8 100.0 95.3 95.1
2016/17
QI 99.8 101.3 98.1 97.1 101.4 96.9 97.8 88.7 103.5 98.3 97.6 100.0 99.2 96.4
QIII 101.1 102.3 99.8 99.3 100.0 99.4 99.7 99.8 101.7 99.4 98.5 100.0 100.7 98.1
QII 102.4 105.4 99.0 98.4 101.6 98.7 100.3 104.9 102.9 100.0 98.8 95.2 95.9 100.7
QIV 108.7 110.1 107.2 124.7 103.6 108.4 101.9 133.6 104.0 99.1 123.5 95.5 102.1 99.9
2017/18
QI 119.5 118.2 120.9 135.5 108.2 134.1 106.5 154.5 104.0 95.6 125.2 119.0 111.6 102.9
QII 122.4 119.9 125.2 140.4 115.0 138.9 110.2 119.9 105.1 102.7 127.4 119.0 119.5 105.2
QIII 125.5 122.0 129.4 144.8 119.5 145.7 121.2 150.8 105.4 112.8 133.4 119.0 111.1 112.4
QIV 129.0 127.7 130.5 139.8 127.3 145.8 126.1 131.4 106.3 122.3 138.0 119.0 111.6 115.4
2018/19
QI 134.1 133.9 134.2 141.6 132.6 148.5 127.8 155.4 106.9 128.9 140.9 119.0 114.4 124.2
QII 134.4 132.9 136.2 141.1 138.1 149.2 129.9 171.6 116.1 115.3 142.3 120.6 118.7 119.1
QIII 138.3 136.6 140.2 146.3 141.6 149.7 137.5 196.6 122.8 118.1 142.1 121.6 124.7 120.4
QIV 148.6 149.3 147.8 150.3 148.2 161.8 143.7 175.3 125.5 139.3 141.5 136.5 130.1 125.7
2019/20
QI 157.6 161.4 153.3 147.1 148.4 169.4 144.5 193.2 120.5 137.3 144.1 134.7 142.7 127.9
QII 159.7 161.0 158.3 155.1 150.0 176.1 146.8 200.8 123.1 126.3 148.9 138.8 150.3 129.9
QIII 169.7 174.2 164.8 181.6 152.4 180.5 149.5 207.8 148.4 120.4 161.7 126.0 155.8 133.3
QIV 179.0 187.5 169.6 207.9 157.9 180.0 153.4 199.3 190.2 160.6 150.6 142.0 151.5 140.0
2020/21
QI 185.8 200.0 169.8 193.7 159.8 177.8 155.2 222.7 215.2 149.4 140.2 132.7 153.3 150.5
QII 185.9 197.9 172.5 207.2 165.1 182.6 158.3 206.7 143.9 138.8 159.4 138.3 163.6 150.5
QIII 192.0 199.2 184.0 225.7 176.7 188.5 169.5 210.0 146.2 215.0 165.3 144.6 175.0 158.9
QIV 204.2 213.9 193.3 244.6 192.5 185.4 186.7 248.2 164.0 261.2 184.4 153.5 184.0 168.0
2021/22
QI 232.9 255.5 207.6 266.8 204.1 206.5 206.5 257.8 170.6 217.5 195.1 164.4 195.1 174.5
QII 244.2 264.5 221.4 297.2 213.2 219.5 214.7 280.2 193.8 220.8 213.5 164.6 212.0 170.0
QIII 260.6 279.3 239.7 317.5 229.3 236.4 234.6 298.0 192.8 245.7 227.3 187.6 234.5 189.8
QIV 283.1 302.6 261.2 354.1 253.2 240.1 279.6 281.3 192.0 257.3 243.5 207.4 276.0 231.8
2022/23
QI 313.1 344.3 278.1 394.9 275.8 228.9 315.7 307.5 243.9 257.3 272.1 205.7 313.6 269.0
QII 326.0 349.8 299.4 423.0 299.2 238.6 337.9 356.7 270.2 222.5 320.7 281.0 345.6 336.8
QIII 344.9 364.2 323.2 466.0 316.7 268.0 353.2 350.2 276.4 222.5 355.9 260.8 369.9 362.8
QIV 374.4 398.1 347.9 488.9 333.8 299.0 400.7 353.9 267.1 234.8 356.8 275.5 394.7 358.9
2023/24
QI 410.7 442.5 375.1 542.1 341.2 320.4 438.5 398.6 282.7 394.3 333.1 189.1 417.7 340.9
QII 439.4 479.3 394.7 580.6 347.4 344.8 442.9 413.9 294.4 417.2 318.8 320.4 436.1 366.4
Table 22 (E3): Regional States' Consumer Price Indices (Non-Food)

Food & Non-alcoholic Index

Housing, Water, Electricity,

Maintenance of the House

Furnishings, Household

Recreation and Culture

Alcoholic beverages &

Restaurants and Hotels

Clothing & Foot-wear

Equipment & Routine

Miscellaneous Goods
Gas and Other Fuels

Communication
Non-Food Index
General Index

Education
Transport
Tobacco

Health
Period

BENISHANGUL GUMUZ
2016/17
QI 99.6 100.1 99.0 85.7 100.0 98.9 98.5 149.8 99.6 100.0 98.7 0.0 96.0 100.9
QII 99.8 100.4 99.0 92.2 100.2 99.0 99.6 102.4 106.9 100.0 100.0 33.3 97.6 102.1
QIII 103.3 103.0 101.7 104.4 100.7 102.3 101.2 104.3 103.9 99.8 99.0 100.0 98.1 100.9
QIV 106.5 109.5 103.0 98.3 102.1 102.8 107.9 113.4 104.7 102.1 111.6 99.4 101.6 101.9
2017/18
QI 111.4 117.8 105.4 91.6 96.2 100.7 114.1 98.9 113.9 100.0 161.4 100.0 123.5 103.2
QII 114.8 121.5 108.5 91.4 94.1 99.4 124.0 100.5 118.8 100.0 168.0 100.0 136.3 104.5
QIII 117.6 119.9 115.5 109.9 99.8 102.2 126.8 132.8 122.7 100.0 167.3 100.0 140.8 112.3
QIV 120.7 121.2 120.2 111.3 100.3 103.3 140.9 186.7 120.8 100.0 177.4 100.0 139.9 117.7
2018/19
QI 125.8 129.2 122.6 106.2 102.9 103.6 147.2 189.5 117.7 100.0 174.9 100.0 152.2 119.1
QII 130.0 130.2 129.9 110.3 114.7 101.7 147.5 191.0 119.0 97.8 177.6 100.0 187.4 117.8
QIII 134.8 132.8 136.6 115.1 119.8 103.4 150.0 188.8 121.6 97.8 180.8 112.5 213.6 122.5
QIV 143.4 142.9 143.9 127.9 119.7 110.8 165.9 189.9 127.5 100.0 184.4 104.2 218.8 132.1
2018/19
QI 156.5 164.5 149.1 130.8 134.1 122.3 172.6 196.4 129.1 100.0 200.9 100.0 210.4 135.8
QII 158.9 166.7 151.5 134.6 132.3 123.9 164.8 186.9 132.1 100.0 247.9 125.0 219.6 148.9
QIII 167.2 173.0 161.9 161.4 136.3 131.0 175.2 192.6 132.1 100.0 238.5 125.0 234.1 158.7
QIV 179.9 190.9 169.6 197.1 137.9 128.7 175.7 197.2 140.5 100.0 234.7 125.0 249.5 161.0
2020/21
QI 201.1 222.6 180.8 201.3 147.0 141.5 177.9 195.9 177.9 100.0 236.1 114.6 271.0 169.6
QII 203.4 220.5 187.2 210.7 149.5 153.1 183.1 198.8 132.7 100.0 268.6 125.0 288.0 170.6
QIII 203.7 217.6 190.7 193.5 166.8 188.3 198.5 204.0 139.2 100.0 282.7 125.0 235.4 182.7
QIV 218.6 233.9 204.3 201.8 181.8 172.7 230.5 225.2 140.6 100.0 309.8 125.0 295.6 188.2
2021/22
QI 258.1 289.1 229.0 221.0 201.2 201.4 258.3 239.3 140.6 100.0 311.5 141.7 339.2 205.6
QII 283.6 317.3 252.0 250.7 206.3 236.5 283.8 245.1 144.2 100.0 378.2 154.2 364.3 217.7
QIII 297.0 329.3 266.5 259.7 225.6 251.8 316.1 249.0 151.5 100.0 373.7 141.7 372.6 247.8
QIV 314.8 359.9 272.4 251.3 247.7 230.1 363.8 260.3 192.0 100.0 393.1 150.0 368.6 308.5
2022/23
QI 347.7 405.4 293.5 268.5 263.5 224.6 395.1 269.4 244.2 100.0 467.6 150.0 424.1 349.7
QII 368.0 422.3 316.9 321.0 292.8 235.5 428.6 267.2 255.9 100.0 588.0 170.8 427.4 426.8
QIII 394.5 426.9 364.1 347.8 319.6 247.8 469.3 291.3 266.3 100.0 590.5 158.3 599.4 467.0
QIV 416.8 463.6 372.8 316.2 346.0 225.4 510.1 310.0 279.3 100.0 589.1 150.0 652.9 494.2
2023/24
QI 501.3 584.9 422.7 422.8 395.2 310.5 564.4 356.0 292.1 100.0 615.5 150.0 651.5 459.2
QII 519.0 607.8 435.5 440.1 416.6 318.0 579.8 479.2 334.8 100.0 534.4 166.7 630.7 473.6
Source: Central Statistical Agency
Table 22 (E4): Regional States' Consumer Price Indices (Non-Food)
December 2016 = 100

Maintenance of the House

Electricity, Gas and Other

Furnishings, Household
Equipment and Routine

Recreation and Culture

Alcoholic beverages &

Restaurants and Hotels

Food & Non-alcoholic

Clothing & Foot-wear

Miscellaneous Goods
Communication
Non-Food Index

Housing,Water,
General Index

Education
Transport
Tobacco

Health
Period

Index

Fuels
DIRE DAWA
2016/17
QI 95.9 100.8 92.8 80.4 95.4 96.8 97.2 98.7 100.0 100.0 97.8 100.0 100.6 97.8
QII 99.8 101.5 98.7 95.2 100.8 98.3 99.9 98.6 100.0 100.0 98.6 100.0 103.0 100.6
QIII 103.4 101.5 104.8 121.4 106.5 101.9 100.1 99.4 100.1 100.0 102.6 99.8 101.6 100.6
QIV 102.8 103.3 102.4 98.5 106.9 106.3 99.4 93.8 95.1 100.0 106.0 101.6 104.0 103.6
2017/18
QI 104.8 105.8 104.1 104.1 97.1 117.2 106.3 103.2 97.6 95.3 100.0 106.8 103.1 105.5
QII 110.0 111.5 109.0 123.9 123.4 104.6 104.5 97.3 95.9 100.0 115.7 103.1 107.3 99.7
QIII 111.0 112.3 110.1 116.3 124.4 105.4 112.9 99.1 98.4 100.0 122.7 103.1 108.0 105.2
QIV 117.5 124.2 112.4 104.4 129.7 108.9 124.1 101.5 100.5 100.0 125.3 103.2 111.3 111.4
2018/19
QI 123.7 133.8 116.2 111.1 130.2 112.1 126.9 104.4 119.4 86.7 124.2 115.8 120.1 114.7
QII 120.0 129.1 113.2 106.5 128.3 114.5 125.2 108.0 107.2 60.2 115.8 112.7 120.2 115.1
QIII 123.4 133.8 115.7 110.6 126.4 117.3 122.9 116.8 115.5 60.2 136.6 122.4 123.6 118.2
QIV 132.9 150.3 120.0 111.0 133.0 123.2 132.0 118.4 111.1 60.2 133.3 124.5 128.4 125.1
2019/20 119.8
QI 140.3 162.6 123.7 104.7 142.0 129.9 138.7 120.4 114.8 60.2 127.9 146.9 133.3 126.1
QII 147.6 169.9 131.0 126.4 154.5 132.5 146.6 133.2 113.6 60.2 128.9 152.5 127.8 134.9
QIII 150.6 167.3 138.2 153.1 164.7 140.3 148.4 139.1 108.5 60.2 129.5 148.7 125.4 135.2
QIV 164.4 187.4 147.2 165.0 167.3 137.9 153.6 137.2 201.8 60.2 129.2 145.4 141.8 135.0
2020/21
QI 181.8 216.5 155.9 166.4 166.0 143.3 157.7 147.1 295.0 60.2 131.9 149.7 151.8 136.4
QII 172.5 204.1 149.0 157.8 154.7 143.2 153.4 168.9 211.2 60.2 142.4 166.0 160.2 135.6
QIII 178.7 215.4 151.3 170.5 160.2 143.1 166.0 176.7 168.6 60.2 151.6 155.3 167.9 131.5
QIV 189.0 233.7 155.6 162.4 168.3 147.0 182.1 166.0 168.6 60.2 186.8 165.8 171.8 138.4
2021/22
QI 217.7 279.7 171.5 190.4 185.7 158.6 196.3 239.2 173.3 60.2 197.4 187.4 185.4 150.8
QII 233.0 295.8 186.1 212.8 209.9 172.9 207.3 251.9 182.1 60.2 203.8 208.8 194.7 163.7
QIII 245.1 294.5 208.2 298.0 215.2 181.6 220.5 243.1 203.5 60.2 203.5 204.9 218.7 181.1
QIV 267.7 323.8 225.8 322.3 224.9 187.9 270.4 249.5 168.6 60.2 203.7 210.1 254.0 217.8
2022/23
QI 303.5 374.9 250.1 335.4 260.7 202.3 301.3 265.0 226.8 60.2 259.8 200.7 286.6 250.2
QII 337.0 402.8 288.0 367.0 372.7 208.2 348.4 249.0 269.3 60.2 322.3 196.3 307.9 318.6
QIII 362.2 426.0 314.6 406.8 420.7 207.3 382.0 262.4 338.0 60.2 316.3 196.5 325.3 368.3
QIV 392.4 478.8 327.8 425.7 438.7 215.0 404.1 286.0 285.0 60.2 339.3 206.2 348.7 407.7
2023/24
QI 413.2 508.8 341.9 436.9 399.4 227.7 426.3 308.0 355.8 60.2 389.9 227.1 385.7 437.3
QII 423.8 532.6 342.7 407.5 409.4 210.2 435.9 314.5 387.0 60.2 373.1 257.2 440.4 446.9
Source: Central Statistical Agency
Table 22 (E5): Regional States' Consumer Price Indices (Non-Food)
December 2016 = 100

Furnishings, Household
Equipment and Routine

Recreation and Culture

Alcoholic beverages &

Restaurants and Hotels

Food & Non-alcoholic

Clothing & Foot-wear

Miscellaneous Goods
Electricity, Gas and

Maintenance of the

Communication
Non-Food Index

Housing, Water,
General Index

Other Fuels

Education
Transport
Tobacco

Health
Period

House
Index

GAMBELLA
2016/17
QI 99.9 101.1 97.8 108.9 96.9 98.9 97.4 90.1 95.5 100.0 92.6 0.0 94.3 92.3
QII 99.7 99.5 100.1 110.9 98.1 101.0 98.8 94.4 99.8 100.0 97.6 33.3 97.3 95.5
QIII 101.2 102.2 100.1 108.2 100.6 100.3 95.7 95.3 100.1 100.0 84.9 100.0 98.7 97.3
QIV 103.8 106.5 100.8 114.7 99.8 100.7 99.3 85.0 100.4 100.0 111.9 100.0 98.3 94.2
2017/18
QI 107.7 111.7 103.0 122.0 111.6 101.4 101.9 81.5 101.0 100.4 116.3 100.0 99.7 96.1
QII 108.1 109.3 106.6 129.7 115.3 103.7 113.4 74.3 102.9 100.4 124.6 100.0 103.6 97.8
QIII 108.7 110.1 107.0 132.4 124.4 95.3 120.8 86.4 125.1 100.3 126.0 100.0 115.9 98.6
QIV 116.5 120.6 111.8 134.7 128.1 95.4 125.7 96.4 134.4 115.8 128.8 100.0 140.1 101.7
2018/19
QI 122.5 127.8 116.3 129.2 131.2 104.9 127.9 95.9 134.5 115.2 130.1 100.0 142.6 103.1
QII 119.6 125.0 113.4 134.0 133.5 96.9 131.8 90.1 134.4 109.8 127.0 103.6 143.5 104.8
QIII 121.6 129.1 113.0 144.8 130.8 93.1 137.9 89.4 136.0 97.9 122.9 117.1 146.0 106.1
QIV 129.0 137.3 119.6 151.8 134.2 102.8 138.6 110.2 136.1 95.8 125.9 107.0 148.7 110.3
2019/20
QI 138.9 149.2 127.1 155.7 144.4 109.9 143.2 130.9 149.8 98.2 131.0 143.3 157.4 116.3
QII 139.8 147.6 130.7 153.5 152.8 118.6 145.5 105.2 130.9 105.4 149.7 158.9 165.6 111.8
QIII 149.0 159.3 137.2 190.5 153.0 124.0 140.0 89.3 151.3 121.7 152.2 163.0 160.4 116.6
QIV 165.7 181.3 147.8 250.2 159.3 132.4 151.9 94.0 148.7 120.0 144.8 145.2 150.6 118.6
2020/21
QI 173.7 192.1 152.5 269.9 157.7 135.2 150.2 111.3 175.6 115.2 146.0 146.1 152.9 112.0
QII 173.6 190.6 154.1 265.4 164.6 134.5 151.6 117.9 180.2 118.8 191.2 160.9 161.5 116.6
QIII 184.6 203.3 163.0 283.9 169.5 139.3 163.3 128.4 195.1 124.9 217.1 167.9 178.4 123.5
QIV 193.4 217.9 165.1 280.3 187.8 131.6 194.9 140.4 200.9 131.0 217.0 184.4 182.0 128.2
2021/22
QI 220.2 260.9 173.3 270.4 219.3 137.0 219.5 147.3 209.6 137.0 227.7 202.0 185.8 145.2
QII 229.6 262.4 191.8 291.8 266.9 156.2 231.0 164.2 202.2 128.3 323.6 237.8 196.3 185.3
QIII 250.8 294.7 200.3 292.2 312.1 156.5 264.0 151.6 200.9 157.4 317.3 245.5 205.4 196.0
QIV 275.5 319.7 224.6 313.8 317.1 177.1 307.6 184.4 238.0 198.8 348.7 248.9 228.5 212.1
2022/23
QI 305.3 357.2 245.7 357.0 332.7 180.7 326.9 237.1 238.6 242.4 478.7 227.5 303.9 239.6
QII 316.1 367.1 257.5 370.2 355.4 183.5 335.2 216.2 259.0 235.2 604.7 234.8 344.3 294.7
QIII 335.9 391.2 272.3 400.3 363.6 191.7 378.0 230.4 249.4 244.9 574.7 229.3 347.3 347.7
QIV 357.7 424.9 280.4 447.9 382.8 178.4 400.0 264.6 280.4 262.7 560.0 229.3 371.1 359.6
2023/24
QI 379.4 462.1 284.2 466.6 391.9 169.2 425.8 275.3 258.3 283.0 585.4 252.3 390.9 378.1
QII 396.4 476.6 304.3 510.7 452.9 172.9 455.1 279.1 287.2 363.6 542.7 286.4 399.0 410.6
Source: Central Statistical Agency
Table 22 (E6): Regional States' Consumer Price Indices (Non-Food)
December 2016 = 100

Maintenance of the House

Electricity, Gas and Other

Furnishings, Household
Equipment and Routine

Recreation and Culture

Alcoholic beverages &

Restaurants and Hotels

Food & Non-alcoholic

Clothing & Foot-wear

Miscellaneous Goods
Communication
Non-Food Index

Housing, Water,
General Index

Education
Transport
Tobacco

Health
Period

Index

Fuels
HARARI
2016/17
QI 97.8 102.3 93.1 84.4 99.0 100.0 97.5 116.5 100.0 100.0 99.7 100.0 99.2 99.2
QIII 97.4 100.7 93.9 85.8 102.3 99.9 98.8 104.3 100.0 100.0 99.5 100.0 97.6 100.6
QII 103.6 100.0 106.1 119.7 98.3 105.1 99.3 101.8 100.0 100.0 99.5 101.0 102.9 101.7
QIV 102.5 107.5 99.0 94.7 104.3 95.5 103.4 99.7 100.0 100.0 107.5 101.2 101.5 99.9
2017/18
QI 103.5 110.8 98.4 86.3 107.9 96.4 102.9 106.7 100.0 100.0 111.6 102.2 104.4 100.5
QII 105.1 110.6 101.3 91.6 111.3 94.0 110.1 106.4 102.3 100.0 111.3 115.5 108.1 104.4
QIII 112.7 110.1 114.4 131.7 115.5 99.6 116.0 111.7 111.7 100.0 113.5 119.2 113.2 106.5
QIV 114.6 116.0 113.6 120.1 115.3 101.4 122.2 111.3 111.7 100.0 114.6 120.3 117.6 113.3
2018/19
QI 116.0 123.5 110.8 93.8 121.4 107.3 128.6 110.9 111.6 100.0 110.4 135.6 121.7 116.9
QII 117.4 123.7 113.1 96.1 123.5 108.5 127.4 112.5 117.9 100.0 112.6 151.8 125.0 120.2
QIII 122.4 125.9 119.9 115.8 128.4 114.4 129.2 110.1 135.1 100.0 111.2 152.3 121.2 127.6
QIV 129.8 138.8 123.6 117.8 127.9 113.1 136.4 118.7 139.8 100.0 118.8 151.5 133.6 135.0
2019/20
QI 142.3 153.9 134.3 133.3 136.8 129.3 133.4 123.9 150.0 100.0 121.8 149.3 147.7 133.5
QII 145.9 160.0 136.0 106.0 136.3 155.8 132.2 139.7 150.0 100.0 138.3 137.6 161.6 133.6
QIII 151.8 159.2 146.6 128.9 140.7 166.1 134.0 144.9 156.0 100.0 143.8 139.8 170.7 139.8
QIV 162.0 173.0 154.4 140.7 141.6 156.6 142.3 150.3 320.1 100.0 142.9 130.3 171.6 144.7
2020/21
QI 178.4 189.7 170.5 175.1 143.0 172.2 151.8 156.8 423.3 100.0 129.9 129.3 170.4 157.7
QII 179.7 192.4 170.8 176.1 138.0 190.2 154.7 160.5 258.7 100.0 136.2 155.4 178.9 167.9
QIII 182.2 193.2 174.6 176.3 144.9 203.6 154.9 173.2 225.3 100.0 140.8 151.8 182.0 178.2
QIV 194.2 214.3 180.0 180.6 166.0 195.0 173.1 186.1 240.4 100.0 148.0 159.1 186.7 182.9
2021/22
QI 215.3 249.1 191.7 182.7 174.8 201.8 189.1 213.2 240.3 100.0 147.8 168.2 220.8 202.3
QII 245.3 276.6 223.4 278.0 188.2 208.4 202.8 225.9 247.2 100.0 184.3 200.8 234.9 220.5
QIII 261.8 283.4 246.6 348.5 205.7 203.5 227.4 251.9 256.3 100.0 187.2 197.6 243.8 243.8
QIV 283.8 307.9 267.0 374.1 216.0 204.5 259.5 265.4 279.0 100.0 193.4 203.5 283.8 296.4
2022/23
QI 306.3 348.6 276.7 322.0 228.4 214.2 293.4 306.2 353.1 100.0 220.3 201.3 345.0 330.3
QII 316.5 362.1 284.5 279.6 257.0 224.7 313.9 346.0 375.6 100.0 255.4 201.0 382.7 368.3
QIII 348.8 381.4 326.0 391.8 272.5 275.8 346.5 376.2 322.2 100.0 309.9 207.3 376.0 385.9
QIV 371.6 426.3 333.3 345.7 296.3 298.6 366.5 379.3 348.7 100.0 464.9 206.6 394.4 423.3
2023/24
QI 388.7 458.3 340.0 299.1 333.0 340.7 389.3 399.8 304.8 100.0 371.4 209.2 420.7 457.6
QII 391.2 484.4 326.0 239.8 326.3 338.8 393.6 415.7 304.8 100.0 303.4 226.8 431.3 453.3
Source: Central Statistical Agency
Table 22 (E7): Regional States' Consumer Price Indices (Non-Food)
December 2016 = 100

Food & Non-alcoholic Index

Housing, Water, Electricity,

Maintenance of the House

Furnishings, Household
Equipment and Routine

Recreation and Culture

Alcoholic beverages &

Restaurants and Hotels

Clothing & Foot-wear

Miscellaneous Goods
Gas and Other Fuels

Communication
Non-Food Index
General Index

Education
Transport
Tobacco

Health
Period

OROMIA
2016/17
QI 101.9 104.9 98.5 85.5 99.0 102.5 99.8 94.7 98.8 100.0 96.1 100.0 96.7 99.9
QII 100.8 101.8 99.7 95.9 100.0 101.2 99.8 99.1 99.6 100.0 100.2 100.0 98.5 99.4
QIII 102.3 101.6 103.2 104.1 102.0 105.3 101.2 106.5 100.6 99.4 99.4 101.4 100.7 101.3
QIV 105.6 108.8 101.4 93.4 104.0 99.7 108.5 112.8 102.8 99.0 109.5 105.1 101.3 101.6
2017/18
QI 110.0 112.9 106.1 96.9 130.6 105.3 110.7 67.7 106.3 99.3 110.4 115.8 101.2 101.2
QII 114.2 116.2 111.6 99.0 133.8 115.7 116.4 69.5 111.3 100.2 112.6 114.5 102.8 101.9
QIII 116.4 116.6 116.2 106.6 143.8 117.3 122.8 70.6 115.1 102.5 115.5 119.1 108.0 105.8
QIV 121.1 120.3 122.1 100.0 157.0 126.3 129.1 71.8 115.9 101.3 117.4 120.0 115.5 111.9
2018/19
QI 125.1 123.7 126.9 103.4 164.8 130.4 135.8 75.0 119.4 102.6 119.2 130.2 122.6 114.9
QII 125.8 124.5 127.6 106.6 164.8 128.9 137.2 75.3 126.0 102.8 120.9 132.6 125.2 115.9
QIII 130.1 128.0 132.7 119.2 175.0 130.9 143.0 77.9 142.9 102.1 123.2 133.5 120.5 120.9
QIV 138.4 143.1 132.5 117.1 171.8 127.6 147.6 81.4 146.0 103.6 123.7 137.1 124.0 130.1
2018/19
QI 146.1 152.2 138.1 117.2 180.0 135.3 153.0 85.4 148.7 102.9 122.4 141.2 131.9 134.0
QII 148.8 154.8 141.1 125.3 183.0 136.7 152.0 93.5 149.9 101.8 137.6 133.3 138.0 138.1
QIII 154.6 160.7 146.7 127.6 178.9 149.4 153.0 95.6 159.0 100.7 134.0 136.4 142.4 144.6
QIV 165.5 175.5 152.7 147.7 190.3 140.8 156.4 124.8 211.0 102.3 131.4 139.6 148.1 148.3
2020/21
QI 173.8 187.6 156.2 145.1 190.6 144.4 159.0 121.8 244.2 101.3 137.4 147.8 151.6 152.5
QII 175.2 189.3 157.0 149.8 201.0 144.1 158.2 141.8 190.4 100.6 151.6 144.5 159.5 159.0
QIII 186.9 198.5 172.0 159.3 210.9 163.5 175.4 165.3 220.5 101.9 167.0 146.0 166.2 168.2
QIV 202.6 221.1 178.9 164.2 226.9 152.7 204.8 184.2 255.0 104.1 180.3 157.8 174.2 195.0
2021/22
QI 234.8 264.2 197.1 184.1 244.7 176.9 229.3 206.9 246.8 106.4 197.5 173.3 184.9 204.5
QII 243.8 271.6 208.2 206.2 259.0 185.8 236.1 219.7 249.0 108.6 231.8 179.0 198.8 211.4
QIII 257.1 287.3 218.4 213.6 248.0 200.7 262.8 233.1 255.3 110.3 255.6 183.3 211.0 223.2
QIV 284.2 319.9 238.3 214.3 277.3 214.8 311.0 257.5 255.8 114.2 275.0 193.9 236.7 267.0
2022/23
QI 315.5 355.4 264.2 218.3 336.2 233.8 346.1 255.5 292.4 121.6 299.1 207.3 262.0 310.6
QII 329.6 364.0 285.6 241.7 333.7 264.1 382.5 250.1 302.9 118.8 373.1 225.9 286.5 338.5
QIII 343.4 377.4 299.7 268.3 350.0 267.7 417.0 289.4 286.7 120.1 377.5 232.7 305.0 363.9
QIV 373.6 415.9 319.3 280.2 375.9 281.0 442.2 357.5 293.0 126.5 369.8 236.2 334.1 392.1
2023/
24
QI 400.2 450.1 336.1 300.0 366.7 309.1 451.4 404.7 300.9 127.9 360.0 242.6 352.9 408.1
QII 422.8 470.8 361.3 313.6 391.5 345.0 464.8 422.1 330.4 129.5 318.5 283.8 383.2 429.5
Source: Central Statistical Agency
Table 22 (E8): Regional States' Consumer Price Indices (Non-Food)
December 2016 = 100

Alcoholic beverages & Tobacco

Housing,Water, Electricity, Gas

Food & Non-alcoholic Index

Maintenance of the House

Furnishings, Household
Equipment and Routine

Recreation and Culture

Restaurants and Hotels

Clothing & Foot-wear

Miscellaneous Goods
Communication
Non-Food Index

and Other Fuels

General Index

Education
Transport
Health
Period

SNNPR
2016/17
QI 99.2 97.6 100.6 97.1 96.5 105.9 99.7 92.5 85.3 99.5 98.0 100.0 96.4 98.9
QII 99.1 98.7 99.5 99.2 97.5 100.7 101.2 96.3 93.9 100.0 100.2 100.0 98.2 99.3
QIII 102.1 102.1 102.1 105.8 97.9 101.2 104.1 101.7 111.2 100.0 99.5 108.3 100.7 101.0
QIV 110.2 114.7 104.3 98.2 101.0 102.8 118.1 104.5 105.7 100.2 115.5 103.4 103.4 103.6
2017/18
QI 113.9 119.3 107.0 102.6 105.5 105.5 121.9 103.3 106.8 99.9 119.1 109.6 107.0 104.8
QII 115.6 118.8 111.6 104.7 108.9 113.2 124.0 109.3 107.3 100.0 115.6 111.9 111.0 106.2
QIII 118.2 118.6 117.8 111.9 114.6 118.7 130.2 113.5 110.6 100.5 119.2 115.9 124.8 114.0
QIV 123.4 125.5 120.5 114.5 119.8 118.4 139.1 119.0 114.2 100.6 122.7 113.8 131.8 118.8
2018/19
QI 126.7 129.5 123.2 116.4 122.7 120.9 143.5 116.1 115.6 89.0 125.5 119.5 134.3 121.8
QII 126.0 128.5 122.8 121.0 126.6 116.3 145.0 119.8 116.2 65.0 128.1 131.3 137.6 124.9
QIII 128.3 129.0 127.4 128.5 130.0 119.3 149.3 122.8 119.7 67.5 130.0 130.5 141.3 129.3
QIV 137.0 141.5 131.1 130.4 130.6 123.5 152.0 122.2 126.9 68.5 132.6 135.8 147.5 135.6
2018/19
QI 146.3 153.2 137.4 130.7 128.4 131.7 155.0 125.1 134.3 73.2 136.9 139.9 155.9 140.3
QII 154.0 158.9 147.7 130.5 124.1 154.3 157.6 128.2 140.6 70.6 149.3 137.0 163.3 144.2
QIII 161.7 162.8 160.3 134.7 127.5 181.1 159.8 129.4 141.6 69.0 148.2 135.0 167.7 149.8
QIV 179.2 183.1 174.3 169.6 131.1 198.4 160.5 133.1 177.3 69.7 151.3 134.5 173.7 154.8
2020/21
QI 189.9 196.2 181.8 172.0 134.9 207.4 164.0 136.0 205.3 70.4 150.5 128.6 179.4 156.6
QII 193.7 202.3 182.7 172.9 138.9 210.8 164.8 140.9 171.8 70.5 165.7 144.3 185.4 162.0
QIII 207.1 211.6 201.2 183.4 147.5 229.1 180.2 146.5 252.8 72.1 179.7 148.6 193.9 173.3
QIV 231.9 246.9 212.4 195.5 159.2 239.5 211.2 165.8 221.2 73.5 196.5 147.6 214.1 186.3
2021/22
QI 259.9 291.3 219.2 208.9 170.9 237.5 232.9 176.4 226.1 73.3 209.1 156.1 238.1 201.3
QII 266.8 296.5 228.4 218.6 178.7 248.0 250.3 202.2 209.4 72.1 263.5 172.6 250.4 209.8
QIII 278.8 308.8 239.9 230.9 191.9 257.2 274.6 202.0 214.4 71.9 282.6 177.3 260.9 235.8
QIV 304.6 344.9 252.4 248.4 206.6 253.5 326.8 212.7 230.2 71.1 302.0 181.3 290.6 276.5
2022/23
QI 336.3 380.3 279.4 266.8 226.9 280.4 369.2 234.3 273.8 71.1 336.5 195.2 319.8 307.9
QII 356.2 394.8 306.3 283.0 249.0 313.2 407.2 246.1 279.0 70.4 457.8 208.1 333.2 353.2
QIII 372.6 411.5 322.3 306.9 268.6 323.4 433.4 269.0 289.1 70.7 444.0 205.3 364.6 378.7
QIV 404.0 448.3 346.7 327.5 292.9 345.2 468.3 269.3 321.3 75.2 435.8 210.9 400.3 397.5
2023/24
QI 423.1 460.8 374.5 361.2 309.0 368.6 510.3 313.2 327.5 80.7 436.5 233.5 459.4 415.8
QII 438.6 470.8 397.1 378.9 326.7 398.0 526.0 296.6 341.0 84.7 394.4 240.5 478.1 437.7
Source: Central Statistical Agency
 Table 22 (E9): Regional States' Consumer Price Indices (Non-Food)
December 2016 = 100

Food & Non-alcoholic Index

Housing, Water, Electricity,

Maintenance of the House

Furnishings, Household
Equipment and Routine

Recreation and Culture

Alcoholic beverages &

Restaurants and Hotels

Clothing & Foot-wear

Miscellaneous Goods
Gas and Other Fuels

Communication
Non-Food Index
General Index

Education
Transport
Tobacco

Health
Period

SOMALI
2016/17
Qtr.I 92.3 95.1 89.6 88.57 102.3 82.4 98.9 107.4 100.0 100.0 82.1 100.0 94.7 95.7
Qtr. II 96.7 99.5 94.0 94.32 100.9 88.8 101.4 101.5 100.0 100.0 100.0 100.0 98.1 99.6
Qtr. III 102.7 102.8 102.5 109.02 100.1 100.1 101.4 99.5 104.3 100.1 100.0 97.1 100.2 94.5
Qtr. IV 101.6 104.7 98.1 89.46 103.0 99.1 105.2 107.4 112.5 100.1 140.3 109.2 104.1 97.0
2017/18
Qtr.I 104.8 106.9 102.5 101.79 109.4 97.5 110.1 114.0 113.2 100.0 129.6 107.4 114.2 98.2
Qtr. II 111.8 113.9 109.5 123.39 113.2 98.5 108.3 120.4 113.4 100.6 137.8 125.4 104.2 105.6
Qtr. III 112.5 114.4 110.5 124.6 112.1 98.5 112.4 118.3 113.3 100.6 153.0 133.0 116.4 109.2
Qtr. IV 112.5 119.7 104.5 92.4 123.4 97.9 122.2 142.0 114.1 100.6 154.3 125.9 119.7 122.2
2018/19
Qtr.I 120.6 129.0 111.4 105.4 128.1 101.6 130.9 145.6 112.7 102.3 154.6 129.3 129.0 128.4
Qtr. II 119.9 128.6 110.2 95.6 149.4 98.6 125.4 155.1 122.6 101.9 156.9 133.0 132.8 124.2
Qtr. III 123.3 131.9 113.8 103.7 149.1 100.8 126.9 143.8 142.0 103.1 157.3 134.2 131.2 126.2
Qtr. IV 133.2 140.6 125.0 123.4 152.3 107.0 151.6 145.7 143.3 103.8 158.0 139.6 134.3 148.9
2018/19
Qtr.I 145.3 155.1 134.4 133.3 161.4 122.2 137.5 133.2 177.3 103.2 162.6 158.6 144.1 152.4
Qtr.II 150.4 162.3 137.1 131.3 168.5 127.9 133.2 146.3 178.6 103.0 187.6 191.6 155.7 151.3
Qtr.III 148.6 158.7 137.5 119.2 176.8 134.7 132.3 133.1 184.2 102.8 200.5 201.3 158.5 154.7
Qtr.IV 153.8 161.5 145.1 151.7 179.0 128.4 133.9 131.4 209.2 102.8 193.7 203.7 157.3 154.2
2020/21
Qtr.I 157.1 166.3 146.9 132.9 196.9 133.6 135.7 137.3 281.7 103.1 197.6 187.6 166.7 168.0
Qtr.II 161.3 167.5 154.4 161.3 184.2 135.8 143.4 141.7 243.6 103.0 213.1 210.9 181.3 176.8
Qtr.III 172.0 183.3 159.5 158.4 182.4 146.6 163.1 156.2 245.9 103.5 227.0 212.2 178.1 182.1
Qtr.IV 191.9 206.8 175.4 161.0 195.2 179.9 173.8 154.8 243.5 103.8 225.2 200.9 181.4 193.0
2021/22
Qtr.I 210.0 235.9 181.4 183.7 216.3 158.7 206.3 165.4 259.0 104.4 260.3 217.0 199.8 214.1
Qtr.II 223.3 257.4 185.5 175.4 218.3 171.2 218.6 183.9 252.5 104.7 296.4 261.8 201.9 218.1
Qtr.III 235.2 260.8 206.9 240.9 230.9 168.7 232.6 190.4 272.0 104.5 327.1 259.2 194.5 238.3
Qtr.IV 257.7 287.2 225.0 295.6 264.2 144.4 270.8 210.8 337.6 108.5 362.1 267.1 216.8 278.6
2022/23
Qtr.I 289.7 333.1 241.7 300.3 296.7 146.1 324.9 238.2 449.4 112.1 463.7 300.4 235.5 329.1
Qtr.II 324.1 352.5 292.6 364.1 425.3 164.5 393.3 245.5 459.1 114.5 566.4 365.6 259.2 379.1
Qtr.III 337.0 363.0 308.2 368.4 472.0 180.7 415.0 243.5 421.4 115.0 594.2 386.9 267.3 403.0
Qtr.IV 347.9 380.9 311.5 356.7 514.6 173.6 434.7 249.4 427.0 116.0 602.9 397.7 279.6 433.6
2023/24
QI 374.4 408.4 336.8 379.3 520.2 211.3 473.5 274.9 442.2 115.0 646.4 421.9 303.5 430.3
QII 399.5 455.1 337.9 392.4 443.8 221.5 476.5 296.0 537.5 116.0 653.6 423.7 332.1 446.5
Source: Central Statistical Agency
Table 22 (E10): Regional States' Consumer Price Indices (Non-Food)
December 2016 = 100

Recreation and Culture

Alcoholic beverages &

Restaurants and Hotels

Food & Non-alcoholic

Household Equipment
Clothing & Foot-wear

Miscellaneous Goods
Electricity, Gas and

Maintenance of the

Communication
Non-Food Index

Housing, Water,
General Index

Furnishings,

and Routine
Other Fuels

Education
Transport
Tobacco

Health
Period

Index

TIGRAY
2015/16
Q.I 83.6 92.0 77.2 93.8 92.5 60.5 78.6 84.9 102.3 97.5 71.5 94.5 94.2 97.8
Q.II 86.9 96.4 78.0 98.8 93.3 60.9 79.4 89.0 101.9 98.9 74.2 95.9 95.0 96.3
QIII 89.7 96.4 84.6 102.6 94.0 74.8 81.8 87.6 101.3 100.9 76.9 97.1 95.0 95.4
QIV 94.8 98.9 91.7 99.1 95.6 90.4 81.3 100.3 101.4 100.1 76.0 98.5 94.9 98.1
2016/17
QI 97.5 105.3 91.6 100.1 98.5 89.4 82.6 98.2 100.4 100.0 77.3 99.5 92.7 97.6
QII 100.1 103.3 97.7 98.9 99.3 99.8 90.3 101.4 99.7 100.1 91.3 100.0 93.8 98.9
QIII 100.2 101.1 99.4 103.4 97.7 102.7 97.2 101.6 102.0 100.0 95.8 100.0 93.5 101.1
QIV 102.5 104.8 100.5 94.6 92.8 103.1 102.5 106.5 102.8 100.0 84.0 83.3 99.8 105.1
2017/18
QI 110.9 111.5 110.3 103.7 100.6 119.1 101.0 107.8 106.1 100.0 83.3 61.6 115.6 104.3
QII 110.6 115.0 106.9 108.0 101.7 103.8 104.3 106.6 108.9 100.0 82.2 87.6 119.7 107.4
QIII 113.8 119.2 109.2 104.9 105.5 107.6 111.5 105.8 109.6 100.0 82.8 86.9 119.5 108.3
QIV 120.6 126.2 115.8 111.7 114.7 113.7 117.3 111.8 113.2 100.0 87.1 120.9 126.8 116.7
2018/19
QI 127.8 135.7 121.1 122.0 115.0 122.3 120.5 132.8 112.9 100.0 87.6 73.4 132.1 119.2
QII 134.4 144.7 125.6 119.9 120.7 127.5 126.3 130.1 110.7 100.0 92.6 117.2 139.9 120.2
QIII 137.4 145.5 130.5 122.3 127.8 131.3 128.1 137.5 115.3 100.0 96.2 132.1 149.4 123.7
QIV 146.4 155.9 138.3 132.3 130.3 147.1 132.2 131.9 110.0 100.0 96.6 115.4 154.9 131.0
2019/20
QI 157.7 171.6 145.9 143.5 138.1 152.9 137.7 132.1 106.6 100.0 103.5 103.6 172.5 136.8
QII 164.1 175.1 154.8 145.6 150.5 165.6 145.3 155.2 120.3 100.0 117.1 133.0 172.9 145.4
QIII 170.3 181.4 160.9 166.0 149.8 175.8 152.2 161.6 115.6 100.0 117.1 127.2 174.3 156.1
QIV 186.3 205.5 170.2 194.2 156.7 182.7 156.0 169.4 137.0 100.0 121.5 119.9 189.7 158.5
2020/21
QI 200.4 228.2 176.8 200.5 152.7 186.7 156.9 169.7 141.0 100.0 122.5 127.8 212.5 167.9
QII 213.8 239.2 192.3 264.6 179.3 194.6 154.0 168.3 116.2 100.0 122.7 160.6 248.4 183.2
QIII 213.8 239.2 192.3 264.6 179.3 194.6 154.0 168.3 116.2 100.0 122.7 160.6 248.4 183.2
QIV 213.8 239.2 192.3 264.6 179.3 194.6 154.0 168.3 116.2 100.0 122.7 160.6 248.4 183.2
2021/22
QI 213.8 239.2 192.3 264.6 179.3 194.6 154.0 168.3 116.2 100.0 122.7 160.6 248.4 183.2
QII 213.8 239.2 192.3 264.6 179.3 194.6 154.0 168.3 116.2 100.0 122.7 160.6 248.4 183.2
QIII 213.8 239.2 192.3 264.6 179.3 194.6 154.0 168.3 116.2 100.0 122.7 160.6 248.4 183.2
QIV 213.8 239.2 192.3 264.6 179.3 194.6 154.0 168.3 116.2 100.0 122.7 160.6 248.4 183.2
2022/23
QI 213.8 239.2 192.3 264.6 179.3 194.6 154.0 168.3 116.2 100.0 122.7 160.6 248.4 183.2
QII 213.8 239.2 192.3 264.6 179.3 194.6 154.0 168.3 116.2 100.0 122.7 160.6 248.4 183.2
QIII 213.8 239.2 192.3 264.6 179.3 194.6 154.0 168.3 116.2 100.0 122.7 160.6 248.4 183.2
QIV 213.8 239.2 192.3 264.6 179.3 194.6 154.0 168.3 116.2 100.0 122.7 160.6 248.4 183.2
2023/24
QI 213.8 239.2 192.3 264.6 179.3 194.6 154.0 168.3 116.2 100.0 122.7 160.6 248.4 183.2
QII 213.8 239.2 192.3 264.6 179.3 194.6 154.0 168.3 116.2 100.0 122.7 160.6 248.4 183.2
Source: Central Statistical Agency
Table 22 (F1): Regional States' Consumer Price Index (Food)
December 2016 = 100

Milk, Cheese & Egg

alcoholic Beverages

confectionery (ND)
Sugar, jam, honey,
Fish & Sea Food
Bread & Cereals

Non-Alcoholic
Food products
chocolate and
Food & Non-

Oils & Fats

Vegetables

Beverages
Period

Fruits
Meat
AFAR
2015/16
Q.I 103.7 92.3 86.8 87.9 99.4 98.2 103.6 86.7 296.9 97.7
Q.II 101.8 94.6 80.8 88.4 92.4 96.9 110.3 81.2 244.1 96.2
Q.III 99.6 98.7 85.5 93.8 86.4 102.5 104.2 84.9 159.5 96.6
Q.IV 101.6 95.6 96.3 101.0 88.9 100.9 118.8 86.3 142.8 96.3
2016/17
QI 104.0 99.0 97.9 97.1 93.4 100.7 135.7 85.1 137.8 97.7
QII 103.8 101.3 98.7 100.0 106.6 95.7 100.5 110.3 92.8 115.4 102.4
QIII 102.3 100.4 99.6 102.6 102.5 103.3 101.6 105.5 100.8 112.0 103.0
QIV 105.2 102.1 101.8 103.3 100.9 114.9 100.6 114.0 102.3 136.6 102.3
2017/18
QI 109.8 111.3 103.7 109.6 101.4 115.8 102.8 120.5 102.9 137.9 104.6
QII 115.8 119.6 118.4 116.3 103.4 107.1 105.8 126.4 115.2 139.3 112.7
QIII 117.0 120.5 127.9 137.4 104.5 113.5 109.2 117.8 125.4 141.4 112.9
QIV 116.2 121.3 139.0 157.3 105.5 98.1 113.8 116.3 97.3 141.0 116.5
2018/19
QI 124.2 134.6 140.1 156.7 105.7 105.7 123.1 148.0 81.3 129.2 119.2
QII 124.3 135.6 156.3 160.9 111.7 103.0 119.1 138.5 81.1 101.5 116.5
QIII 126.1 138.6 163.2 163.4 114.0 101.6 116.4 137.8 92.0 92.5 112.5
QIV 136.2 150.3 176.2 165.3 119.5 90.2 120.6 165.4 103.7 95.2 118.7
2019/20
QI 151.7 167.5 192.0 171.2 121.3 164.1 128.5 188.5 117.4 101.4 123.6
QII 159.8 179.7 197.0 183.7 129.1 168.3 128.4 199.1 113.3 100.3 127.6
QIII 158.7 180.3 210.5 178.2 121.2 161.1 138.1 189.9 115.7 100.2 137.1
QIV 174.6 200.4 209.9 188.5 127.9 172.6 140.5 214.7 144.4 140.6 146.7
2020/21
QI 179.9 188.1 210.0 195.2 136.9 172.5 141.2 266.7 145.7 182.4 146.9
QII 187.5 202.7 202.2 196.1 160.7 213.7 144.5 224.0 135.3 183.0 155.6
QIII 195.6 216.0 205.3 206.9 180.8 203.4 145.4 205.4 137.6 200.7 160.4
QIV 224.9 243.8 222.3 213.2 231.3 256.6 161.5 212.4 147.2 245.9 171.7
2021/22
QI 256.8 300.4 245.5 252.3 210.3 348.3 159.8 250.0 148.6 349.7 190.0
QII 268.3 312.1 255.9 243.3 208.9 300.2 169.7 304.0 194.0 303.9 219.5
QIII 274.4 308.4 249.9 254.6 239.4 313.4 178.5 271.6 213.2 297.9 254.6
QIV 313.4 323.7 302.3 238.0 277.1 466.1 187.8 357.0 233.9 302.0 282.4
2022/23
QI 356.1 369.2 385.0 263.8 332.8 480.3 229.7 394.3 247.6 322.9 303.2
QII 376.4 393.0 388.9 296.0 371.0 499.0 234.0 383.8 247.6 320.0 337.5
QIII 398.4 418.8 408.3 330.3 389.8 569.0 256.6 336.6 405.7 321.7 348.1
QIV 438.2 456.7 439.6 362.2 421.4 604.8 340.5 450.4 426.5 319.9 355.5
2023/24
QI 487.8 517.0 515.9 378.9 454.1 503.5 378.7 595.7 460.7 374.0 360.7
QII 521.0 599.7 488.9 326.8 471.7 465.6 400.9 617.1 495.3 324.9 370.0
Source: Central Statistical Agency
Table 22 (F2): Regional States' Consumer Price Index (Food)
December 2016 = 100

honey, chocolate
Milk, Cheese &

Non-Alcoholic
Food products
confectionery
Food & Non-

Fish and Sea

Sugar, jam,
Oils & Fats

Vegetables

Beverages
Beverages

Bread and
alcoholic

Cereals
Period

Fruits
Meat

food

Egg

and
AMHARA
2015/16
Q.I 91.5 96.3 84.7 88.7 107.6 84.6 99.5 82.3 77.6 92.5
Q.II 92.7 99.0 85.7 88.9 104.3 89.1 101.6 82.2 77.9 89.6
Q.III 93.0 99.6 87.4 94.0 98.0 92.5 100.7 95.8 79.2 88.2
Q.IV 95.1 99.4 92.6 96.7 101.9 90.5 105.5 102.1 80.2 87.0
2016/17
QI 101.3 104.5 98.7 100.3 100.6 99.0 111.2 98.9 91.2 92.0
QII 102.3 102.3 99.6 100.6 98.9 98.5 102.6 97.0 105.6 99.5
QIII 105.4 101.2 102.1 98.9 103.3 104.5 100.3 104.8 102.7 114.6 100.2
QIV 110.1 108.2 108.9 100.4 112.1 103.0 107.6 102.0 102.6 125.6 98.8
2017/18
QI 118.2 128.1 116.5 101.1 118.5 103.0 128.7 104.0 102.8 128.8 101.7
QII 119.9 125.0 116.0 104.2 127.8 103.8 128.4 113.5 101.9 129.6 105.5
QIII 122.0 133.3 132.0 72.2 128.4 106.1 134.9 103.2 102.7 130.1 106.0
QIV 127.7 143.0 140.4 0.0 136.5 107.7 139.7 109.9 103.4 131.3 107.2
2018/19
QI 133.9 150.4 145.6 0.0 139.5 107.9 135.1 129.0 103.3 128.4 109.2
QII 132.9 149.6 144.4 0.0 143.8 143.8 107.0 135.7 121.2 103.9 132.6
QIII 136.6 153.6 148.7 0.0 143.6 107.8 142.8 128.4 103.7 135.1 108.4
QIV 149.3 169.1 170.1 0.0 152.7 111.3 155.2 144.0 115.3 144.6 108.8
2019/20
QI 161.4 190.2 178.9 0.0 164.5 115.1 179.7 159.9 120.5 149.0 110.4
QII 161.0 199.0 179.9 0.0 166.1 115.2 187.3 142.1 120.8 151.5 110.3
QIII 174.2 199.3 184.9 0.0 170.9 123.7 191.0 151.4 120.3 191.3 119.6
QIV 187.5 213.7 194.7 0.0 181.3 136.8 188.7 158.9 121.2 210.7 133.3
2020/21
QI 200.0 238.1 194.3 0.0 187.6 142.7 188.0 181.9 119.5 208.1 143.3
QII 197.9 245.6 202.5 0.0 192.4 150.7 197.8 159.9 139.0 200.8 150.2
QIII 199.2 252.1 204.8 0.0 198.3 165.8 211.8 157.3 151.8 192.2 158.8
QIV 213.9 275.0 234.5 0.0 214.5 208.7 217.6 157.3 153.3 200.7 164.2
2021/22
QI 255.5 330.4 260.7 0.0 243.5 280.4 246.8 191.7 166.7 241.1 180.1
QII 264.5 321.7 263.5 0.0 252.4 329.1 271.9 199.4 233.5 258.8 203.0
QIII 279.3 331.8 278.4 0.0 266.2 422.7 274.2 191.6 234.6 272.1 245.6
QIV 302.6 359.5 309.1 0.0 313.5 384.7 287.3 222.1 201.2 291.8 283.8
2022/23
QI 344.3 415.3 374.2 0.0 355.0 487.6 349.4 246.3 247.3 315.8 297.9
QII 349.8 421.5 387.8 0.0 369.3 522.2 378.6 228.1 247.1 328.1 310.5
QIII 364.2 463.2 411.5 0.0 386.7 470.2 416.5 232.6 276.8 332.8 313.0
QIV 398.1 522.2 473.9 0.0 414.5 492.2 438.6 267.8 329.2 334.6 318.9
2023/24
QI 442.5 587.6 502.0 0.0 443.7 522.4 466.3 353.2 370.3 340.1 325.4
QII 479.3 660.3 509.7 0.0 455.3 535.5 510.0 403.8 357.4 351.9 330.7
Source: Central Statistical Agency
Table 22 (F3): Regional States' Consumer Price Index (Food)
December 2016= 100

confectionery (ND)
Sugar, jam, honey,
Bread and Cereals

Fish and sea food

Milk, Cheese &

Non-Alcoholic
Food products
chocolate and
Food & Non-

Oils & Fats

Vegetables
Beverages

Beverages
alcoholic

Fruits
Period

Meat

Egg
BENISHANGUL GUMUZ
2015/16
Q.I 99.9 99.3 92.1 92.0 100.4 70.8 104.3 92.3 109.5 84.0
Q.II 99.9 99.2 94.0 83.5 97.1 89.0 106.2 94.6 107.8 80.1
Q.III 94.6 92.7 96.2 84.7 99.3 87.3 99.8 101.3 94.5 80.3
Q.IV 95.9 87.6 99.2 99.6 102.3 83.6 104.8 108.3 98.9 80.1
2016/17
QI 100.1 94.1 102.9 102.7 100.3 95.1 113.5 105.5 93.9 89.3
QII 100.4 100.7 100.2 100.0 102.6 100.5 94.6 99.4 101.0 101.6 100.2
QIII 103.0 100.7 100.8 98.9 103.8 102.3 103.2 107.4 96.1 109.2 97.3
QIV 109.5 110.9 106.9 100.4 108.3 101.7 106.6 114.7 93.9 117.9 97.0
2017/18
QI 117.8 142.8 119.5 106.7 107.4 106.6 90.1 117.7 109.2 87.4 92.1
QII 121.5 148.1 118.9 120.8 106.1 106.9 101.7 116.7 110.6 112.8 95.9
QIII 119.9 132.8 122.4 120.8 107.1 109.4 82.6 115.3 111.6 153.6 95.5
QIV 121.2 139.7 132.8 120.8 108.8 111.8 115.9 105.5 109.5 148.9 98.8
2018/19
QI 129.2 145.6 144.0 119.3 111.7 106.4 109.2 128.3 109.9 132.3 106.8
QII 130.2 148.6 144.2 120.8 114.3 110.1 118.9 129.0 111.4 135.2 100.7
QIII 132.8 150.3 148.0 120.8 115.4 117.4 168.2 126.9 109.4 154.2 99.3
QIV 142.9 152.8 161.0 129.3 117.8 119.6 166.1 156.3 120.6 156.9 100.2
2019/20
QI 164.5 186.6 179.5 138.0 120.3 124.8 126.0 194.2 125.8 160.1 101.3
QII 166.7 201.4 179.2 135.0 123.1 122.9 129.7 183.9 126.2 161.4 104.1
QIII 173.0 204.4 182.3 135.0 123.6 129.3 132.6 183.3 126.5 207.0 115.3
QIV 190.9 216.0 187.0 149.5 127.3 144.7 161.1 208.5 123.0 271.6 127.6
2020/21
QI 222.6 251.8 204.9 152.3 130.8 150.9 143.8 259.4 128.9 347.7 135.7
QII 220.5 261.9 220.9 143.8 122.0 167.3 143.0 220.1 150.5 335.3 153.8
QIII 217.6 248.2 213.4 155.3 113.6 174.3 203.4 214.4 160.3 367.4 153.1
QIV 233.9 261.6 251.3 166.8 122.3 203.1 227.2 213.5 159.1 446.7 154.4
2021/22
QI 289.1 353.3 300.9 178.3 132.2 199.5 187.8 250.2 156.5 589.0 191.3
QII 317.3 371.6 294.9 201.2 140.1 294.4 211.6 300.1 172.2 578.0 212.4
QIII 329.3 392.1 304.3 241.5 153.5 362.2 233.0 282.6 213.4 515.5 258.6
QIV 359.9 411.6 381.7 281.8 185.6 368.8 269.9 327.4 209.9 508.8 291.0
2022/23
QI 405.4 453.4 459.8 293.1 203.0 445.3 264.9 368.2 320.5 524.5 328.1
QII 422.3 489.6 458.0 352.0 198.0 496.6 301.8 365.7 279.6 528.4 349.3
QIII 426.9 504.4 479.0 361.1 227.0 464.5 429.9 369.3 328.1 534.4 321.1
QIV 463.6 551.9 519.4 345.7 246.0 524.9 451.0 405.7 377.1 562.0 326.9
2023/24
QI 584.9 801.9 525.4 483.1 263.1 616.2 435.0 519.7 435.4 650.1 354.7
QII 607.8 857.8 539.8 499.8 271.7 570.6 488.7 570.7 488.7 564.1 359.0
Source: Central Statistical Agency
Table 22 (F4): Regional States' Consumer Price Index (Food)
December 2016 = 100

Milk, Cheese & Egg

alcoholic Beverages

confectionery (ND)
Sugar, jam, honey,
Bread and Cereals

Fish and sea food

Non-Alcoholic
Food products
chocolate and
Food & Non-

Oils & Fats

Vegetables

Beverages
Period

Fruits
Meat
DIRE DAWA
2015/16
Q.I 90.4 95.1 89.0 91.9 89.9 94.9 83.7 80.9 76.9 90.4
Q.II 91.2 94.5 88.9 85.1 89.9 97.8 91.2 84.6 77.0 89.5
Q.III 92.4 98.1 91.6 89.7 89.9 103.3 84.9 89.4 78.1 88.6
Q.IV 97.7 98.0 95.5 96.2 90.1 105.0 103.9 100.0 79.0 99.0
2016/17
QI 100.8 102.1 100.2 100.3 96.6 107.3 104.4 100.0 79.7 101.3
QII 101.5 100.4 101.5 100.0 100.7 100.0 99.8 106.2 99.9 99.7 99.7
QIII 101.5 99.8 101.4 101.2 101.9 100.1 106.8 103.9 105.3 103.4 101.6
QIV 103.3 101.9 101.9 104.6 102.6 100.3 108.7 106.8 107.7 103.7 102.9
2017/18
QI 105.8 105.4 106.3 101.0 111.7 102.5 124.6 103.6 109.2 111.0 109.7
QII 111.5 111.4 110.3 125.9 112.1 103.1 128.7 113.4 110.8 114.0 114.0
QIII 112.3 112.6 113.1 134.3 115.0 105.2 143.1 113.6 109.1 105.3 115.3
QIV 124.2 122.4 129.5 130.8 122.6 108.1 133.8 124.1 94.4 187.4 117.2
2018/19
QI 133.8 130.5 135.7 133.3 131.4 109.6 129.5 139.4 95.0 220.2 118.7
QII 129.1 136.0 138.2 131.8 131.0 109.0 140.7 117.4 95.0 188.5 109.4
QIII 133.8 141.6 140.1 134.6 131.5 110.7 158.2 122.5 95.0 192.9 119.5
QIV 150.3 150.5 162.8 150.0 142.4 113.8 162.9 162.9 110.0 198.6 116.4
2019/20
QI 162.6 166.7 177.7 155.1 155.9 112.0 157.5 176.1 108.9 215.4 120.6
QII 169.9 175.6 178.9 148.1 162.2 115.5 176.9 184.3 110.0 220.9 133.6
QIII 167.3 177.1 190.2 154.8 155.7 114.7 192.8 162.5 109.7 236.2 139.4
QIV 173.0 179.9 190.2 159.0 155.4 121.4 191.7 173.2 110.8 261.0 145.2
2020/21
QI 216.5 202.8 208.1 159.5 168.3 133.6 177.9 267.6 120.0 433.4 152.0
QII 204.1 210.4 210.1 160.0 171.3 150.7 190.9 205.5 126.1 367.7 153.7
QIII 215.4 224.1 212.3 183.6 178.8 186.4 215.6 192.7 136.1 466.1 149.9
QIV 233.7 241.3 236.6 182.0 207.8 185.3 205.8 196.9 135.0 605.4 153.7
2021/22
QI 279.8 299.2 262.0 202.6 245.4 245.7 198.0 205.5 135.0 829.8 168.8
QII 295.8 312.9 230.9 214.4 237.5 321.6 227.2 260.4 141.2 690.3 182.9
QIII 294.5 318.8 241.9 226.4 241.3 341.8 253.4 237.3 175.0 616.2 204.6
QIV 323.8 351.3 285.2 264.8 289.6 350.9 260.8 262.1 177.8 634.3 256.0
2022/23
QI 374.9 391.4 319.6 308.9 322.9 532.3 326.2 309.0 225.0 638.6 288.5
QII 402.8 439.3 357.0 355.1 334.2 570.8 326.3 311.5 225.0 631.2 311.1
QIII 426.0 488.3 357.0 369.3 347.3 579.2 383.6 319.0 258.3 605.5 309.7
QIV 478.8 538.1 396.5 356.5 376.2 584.1 374.9 421.6 337.4 624.5 307.3
2023/24
QI 508.8 551.9 425.8 354.2 399.0 576.7 352.4 505.9 343.2 640.9 326.9
QII 532.6 600.4 420.0 361.7 448.6 494.2 392.3 554.7 346.6 586.1 335.7
Source: Central Statistical Agency
Table 22 (F5): Regional States' Consumer Price Index (Food)
December 2016 = 100

alcoholic Beverages

confectionery (ND)
Sugar, jam, honey,
Bread and Cereals

Fish and Sea food

Milk, Cheese &

Non-Alcoholic
Food products
chocolate and
Food & Non-

Oils & Fats

Vegetables

Beverages
Fruits
Period

Meat

Egg
GAMBELLA
2015/16
Q.I 96.8 99.9 96.5 79.6 105.2 98.5 106.2 75.0 89.4 91.5
Q.II 93.2 90.5 94.5 82.4 106.1 99.2 105.8 74.2 84.7 85.4
QIII 93.1 95.8 93.7 84.2 105.1 99.6 99.1 78.0 86.2 74.4
QIV 98.0 102.6 95.5 86.7 109.3 99.7 107.3 91.6 90.9 78.2
2016/17
QI 101.1 104.6 97.1 92.2 104.3 99.6 110.4 101.7 99.2 88.8
QII 99.5 99.9 100.8 100.0 91.8 98.0 100.0 100.7 98.3 99.0 100.6
QIII 102.2 99.5 103.4 100.0 90.2 97.5 128.9 107.8 91.8 129.2 100.2
QIV 106.5 113.6 105.9 100.0 89.8 106.0 65.1 104.0 92.2 140.1 98.5
2017/18
QI 111.7 134.7 107.9 100.0 93.1 102.1 71.1 96.7 92.7 131.4 98.7
QII 109.3 118.1 114.2 102.3 93.9 106.5 82.9 101.1 109.0 133.8 103.5
QIII 110.1 119.6 118.1 96.4 96.5 113.5 94.2 99.0 97.6 137.6 103.4
QIV 120.6 138.5 131.7 106.9 104.8 118.3 108.7 103.0 96.7 138.9 110.1
2018/19
QI 127.8 148.3 137.7 109.4 120.8 119.1 121.8 107.1 95.8 135.5 122.5
QII 125.0 130.8 152.1 111.8 111.8 125.9 119.6 78.8 111.2 95.8 147.8
QIII 129.1 135.1 162.3 111.3 140.5 124.2 109.8 113.6 97.4 141.2 117.8
QIV 137.3 151.6 161.6 108.0 138.9 126.9 157.7 125.5 98.3 147.4 114.6
2019/20
QI 149.2 175.0 170.2 104.6 138.6 132.8 170.5 140.6 109.4 152.3 110.5
QII 147.6 164.7 174.6 108.5 144.7 127.7 177.0 140.1 112.9 163.4 113.9
QIII 159.3 183.6 193.0 116.6 163.3 124.0 168.5 146.8 112.4 183.6 109.3
QIV 181.3 205.5 206.9 135.7 204.7 158.0 144.6 167.5 117.0 222.9 114.7
2020/21
QI 192.1 223.9 210.0 140.4 216.0 155.9 122.2 177.5 119.2 229.5 127.7
QII 190.6 216.1 208.0 140.4 210.4 172.2 127.6 169.6 134.4 237.1 145.1
QIII 203.3 224.1 228.8 150.0 205.6 192.5 200.5 197.3 145.0 242.9 145.9
QIV 217.9 247.5 246.0 154.7 221.2 248.9 184.2 196.9 159.9 231.2 154.7
2021/22
QI 260.9 331.5 272.9 172.2 249.6 349.1 175.2 192.0 189.7 242.1 195.3
QII 262.4 305.8 288.7 169.2 259.5 346.9 178.3 210.0 212.5 273.6 216.1
QIII 294.7 351.6 349.1 178.5 277.5 394.8 257.4 234.9 198.1 284.5 230.5
QIV 319.7 381.5 368.1 248.9 290.6 410.3 295.5 258.6 144.0 315.4 261.0
2022/23
QI 357.2 418.6 389.6 438.2 320.0 553.1 200.4 254.7 214.7 317.3 288.5
QII 367.1 392.9 423.7 479.6 334.9 559.1 250.7 284.5 233.8 350.0 318.3
QIII 391.2 429.0 442.6 503.6 367.1 537.1 308.7 332.5 260.7 337.1 285.1
QIV 424.9 494.3 493.3 469.3 371.4 539.5 413.6 359.6 318.0 350.8 290.1
2023/24
QI 462.1 583.9 527.7 386.1 403.3 516.1 419.3 391.1 343.2 354.2 292.3
QII 476.6 586.6 524.2 386.1 469.8 494.8 450.8 419.2 377.7 370.6 299.5
Source: Central Statistical Agency
Table 22 (F6): Regional States' Consumer Price Index (Food)
December 2016 = 100

and confectionery
honey, chocolate
Fish & sea food

Milk, Cheese &

Non-Alcoholic
Food products
Food & Non-

Sugar, jam,
Oils & Fats

Vegetables
Beverages

Beverages
Bread and
alcoholic

Cereals

Fruits
Period

(ND)
Meat

Egg
HARARI
2016/17
QI 102.3 99.1 101.3 92.6 100.1 98.1 120.1 106.4 113.7 87.9
QII 100.7 99.6 99.3 98.6 100.1 96.2 108.2 104.5 96.5 100.3
QIII 100.0 95.3 102.9 0.0 99.5 101.7 103.3 107.7 102.8 102.1 102.4
QIV 107.5 106.3 108.5 0.0 102.2 125.2 121.2 108.3 109.7 106.2 97.2
2017/18
QI 110.8 112.9 105.2 0.0 108.4 135.9 143.1 101.6 114.7 110.2 99.5
QII 110.6 116.6 103.5 0.0 107.2 110.4 152.7 103.5 110.1 110.0 97.4
QIII 110.1 114.3 101.9 0.0 112.2 109.7 150.4 105.3 106.6 114.9 96.0
QIV 116.0 122.3 114.9 0.0 117.5 110.6 138.8 103.7 107.9 126.9 99.7
2018/19
QI 123.5 129.1 121.5 0.0 130.1 113.0 124.3 118.6 106.9 129.7 102.5
QII 123.7 135.0 122.5 0.0 132.2 112.6 129.0 103.9 108.2 127.7 98.2
QIII 125.9 136.6 119.5 0.0 135.8 113.7 137.6 110.9 109.1 130.8 99.6
QIV 138.8 140.5 146.3 0.0 146.3 116.5 170.2 147.5 116.8 141.6 100.7
2019/20
QI 153.9 161.0 157.2 0.0 160.0 118.9 170.5 164.9 121.9 148.7 106.4
QII 160.0 175.5 158.2 0.0 162.7 117.4 181.3 158.3 142.3 147.7 107.1
QIII 159.2 176.1 162.5 0.0 161.0 117.7 183.1 143.0 145.9 157.1 119.2
QIV 173.0 191.5 166.4 0.0 165.0 117.9 187.4 178.9 129.4 170.6 127.4
2020/21
QI 189.7 207.7 179.8 0.0 165.7 118.2 166.3 225.9 120.5 199.6 125.3
QII 192.4 219.6 180.5 0.0 180.0 118.6 185.7 192.7 159.1 201.6 126.2
QIII 193.2 223.3 183.8 0.0 187.2 118.5 217.7 174.3 159.9 208.2 134.0
QIV 214.3 242.9 216.5 0.0 223.7 121.6 248.8 196.2 154.5 241.3 139.1
2021/22
QI 249.1 286.8 238.9 0.0 243.9 187.5 221.7 190.6 178.0 408.8 154.1
QII 276.6 301.1 241.3 0.0 242.4 318.6 238.6 227.2 183.6 546.0 166.7
QIII 283.4 306.0 243.1 0.0 265.8 363.5 308.3 225.8 214.5 464.2 190.8
QIV 307.9 334.1 290.2 0.0 301.8 407.9 307.4 240.7 215.1 367.0 234.0
2022/23
QI 348.6 369.4 339.4 0.0 332.2 523.0 380.0 284.8 255.9 333.3 268.4
QII 362.1 400.5 357.0 0.0 324.6 555.9 371.8 262.5 255.9 328.8 281.5
QIII 381.4 434.6 385.9 0.0 329.2 510.9 461.9 266.3 287.5 343.1 298.1
QIV 426.3 457.9 451.6 0.0 330.4 514.8 423.1 411.8 454.4 341.4 282.0
2023/24
QI 458.3 518.4 424.7 0.0 331.2 574.6 412.3 439.6 434.9 348.0 305.6
QII 484.4 561.7 424.2 0.0 351.8 571.6 418.5 473.4 445.4 361.1 298.6
Source: Central Statistical Agency
Table 22 (F7): Regional States' Consumer Price Index (Food)
December 2016 = 100

Food & Non-alcoholic

Milk, Cheese & Egg

confectionery (ND)
Sugar, jam, honey,
Bread and Cereals

Fish and sea food

Non-Alcoholic
Food products
chocolate and
Oils & Fats

Vegetables
Beverages

Beverages
Fruits
Period

Meat
OROMIA
2016/17
QI 104.9 102.7 100.2 102.2 99.5 100.3 117.9 83.8 128.0 89.1
QII 101.8 103.5 99.3 101.2 99.4 100.3 102.3 92.2 110.9 98.0
QIII 101.6 99.1 98.9 0.0 104.6 100.8 104.5 107.8 89.1 107.1 95.3
QIV 108.8 110.1 104.2 0.0 112.3 96.3 106.9 120.7 85.7 116.2 93.2
2017/18
QI 112.9 123.9 108.0 0.0 112.6 94.5 124.6 113.4 86.7 124.1 97.7
QII 116.2 129.8 112.0 0.0 113.7 88.7 135.5 114.4 82.9 128.8 106.3
QIII 116.6 123.1 117.6 0.0 119.6 83.7 140.5 124.2 79.4 139.5 101.1
QIV 120.3 132.4 124.6 0.0 130.7 80.8 142.7 119.4 80.0 143.5 105.9
2018/19
QI 123.7 136.6 128.4 0.0 134.7 82.2 146.2 122.9 74.9 145.3 111.5
QII 124.5 137.2 129.1 0.0 137.0 85.1 148.7 124.7 76.5 143.4 109.6
QIII 128.0 138.6 135.0 0.0 143.0 83.8 153.0 136.0 79.6 152.7 102.3
QIV 143.1 154.9 147.1 0.0 155.3 93.4 164.7 167.3 87.3 152.9 105.2
2019/20
QI 152.2 173.8 158.5 0.0 152.9 92.6 181.5 172.9 92.3 159.1 111.5
QII 154.5 181.7 162.7 0.0 151.7 87.9 188.7 172.0 83.8 159.8 115.0
QIII 160.7 182.3 163.7 0.0 157.9 95.1 189.7 185.5 83.7 171.4 122.0
QIV 175.5 203.1 172.6 0.0 164.9 97.5 187.0 209.9 86.7 178.9 128.5
2020/21
QI 187.6 217.7 174.3 0.0 166.3 102.3 187.4 225.3 84.9 194.7 145.3
QII 189.3 224.8 176.8 0.0 170.6 114.1 185.3 207.0 93.7 199.7 154.4
QIII 198.5 233.2 183.1 0.0 188.2 127.1 188.6 217.9 99.6 213.6 153.9
QIV 221.1 264.7 206.0 0.0 218.2 160.6 198.7 226.4 104.7 240.1 164.6
2021/22
QI 264.2 327.0 236.6 0.0 223.2 231.7 225.0 245.0 111.8 285.9 208.3
QII 271.6 338.1 238.3 0.0 218.7 222.5 245.3 246.5 126.7 299.4 233.7
QIII 287.3 339.5 247.5 0.0 256.5 246.6 250.6 268.1 141.8 297.6 274.4
QIV 319.9 361.2 293.6 0.0 305.4 299.9 263.3 302.3 150.7 318.3 314.6
2022/23
QI 355.4 407.4 331.9 0.0 320.9 383.2 328.9 311.6 168.4 328.9 358.5
QII 364.0 420.9 352.0 0.0 323.6 368.9 384.2 317.6 186.7 334.9 375.7
QIII 377.4 444.3 365.3 0.0 345.3 376.9 388.0 350.5 208.1 338.1 333.8
QIV 415.9 503.3 410.4 0.0 367.1 352.6 399.7 414.7 258.5 354.0 347.3
2023/24
QI 450.1 567.4 453.9 0.0 383.6 401.3 413.5 428.0 263.4 359.9 360.2
QII 470.8 614.1 470.9 0.0 398.0 356.0 423.1 460.2 272.5 377.7 357.5
Source: Central Statistical Agency
Table 22 (F8): Regional States' Consumer Price Index (Food)
December 2016 = 100

Milk, Cheese & Egg

alcoholic Beverages

confectionery (ND)
Sugar, jam, honey,
Bread and Cereals

Fish and sea food

Non-Alcoholic
Food products
chocolate and
Food & Non-

Oils & Fats

Vegetables

Beverages
Period

Fruits
Meat
SNNPR
2015/16
Q.I 92.4 91.1 95.4 86.4 101.4 84.5 90.8 97.0 94.5 104.9
Q.II 88.9 86.2 95.6 87.9 100.2 91.7 86.2 97.1 98.2 93.4
QIII 91.5 90.4 96.3 93.1 98.0 92.6 90.6 97.6 93.1 87.2
QIV 96.3 97.8 100.0 95.8 102.6 83.9 92.8 104.7 110.5 92.1
2016/17
QI 97.6 100.9 102.1 97.1 100.6 93.8 92.9 105.2 108.4 101.0
QII 98.7 99.8 102.2 98.9 98.2 100.8 96.5 104.4 101.1 103.1
QIII 102.1 102.4 104.2 0.0 102.0 105.0 102.7 110.6 106.2 103.9 97.9
QIV 114.7 121.8 109.1 0.0 106.4 114.4 104.5 117.4 107.3 107.7 103.7
2017/18
QI 119.3 134.0 114.0 0.0 107.9 111.8 113.4 106.9 107.4 109.9 110.4
QII 118.8 125.3 118.2 0.0 116.3 110.2 135.8 112.5 102.5 111.1 117.9
QIII 118.6 120.5 120.7 0.0 122.2 112.4 144.5 130.4 100.9 123.4 114.2
QIV 125.5 133.8 131.9 0.0 128.7 118.3 133.6 121.8 100.9 132.1 122.6
2018/19
QI 129.5 137.8 138.3 0.0 127.4 118.1 130.0 125.2 100.9 132.1 134.3
QII 128.5 133.3 137.9 0.0 132.5 118.3 147.8 126.7 101.0 132.1 122.4
QIII 129.0 135.9 141.5 0.0 138.6 120.4 151.5 138.6 101.6 129.9 113.3
QIV 141.5 154.3 157.2 0.0 148.4 124.5 161.3 157.3 108.7 133.5 119.2
2019/20
QI 153.2 169.6 171.3 0.0 153.8 131.2 165.0 161.2 118.2 137.1 131.6
QII 158.9 163.7 174.3 0.0 160.7 134.9 198.3 160.7 120.7 138.4 139.8
QIII 162.8 165.5 182.8 0.0 165.0 136.8 207.9 165.4 122.0 143.6 144.1
QIV 183.1 191.6 194.8 0.0 166.8 147.0 215.6 176.5 127.7 154.7 163.0
2020/21
QI 196.2 205.9 197.5 0.0 171.0 153.7 188.5 188.9 123.3 187.5 177.8
QII 202.3 210.3 202.2 0.0 182.9 157.2 195.9 187.0 139.2 211.3 186.7
QIII 211.6 226.9 206.7 0.0 197.5 177.1 211.0 206.2 150.1 219.0 178.2
QIV 246.9 279.0 236.0 0.0 221.5 214.3 227.7 225.0 153.6 258.7 200.5
2021/22
QI 291.3 337.9 267.9 0.0 250.9 268.8 239.9 251.2 160.0 345.0 259.6
QII 296.5 339.8 258.2 0.0 258.7 277.8 320.8 262.3 180.7 348.0 277.1
QIII 308.8 354.6 277.2 0.0 282.9 315.1 298.9 282.2 203.5 357.3 324.9
QIV 344.9 396.9 332.1 0.0 304.9 375.8 304.8 322.4 210.2 357.6 382.4
2022/23
QI 380.3 431.0 366.6 0.0 325.5 443.5 359.1 329.6 251.6 363.8 432.7
QII 394.8 437.6 380.2 0.0 345.3 467.7 403.5 345.6 274.9 367.1 429.5
QIII 411.5 470.8 395.4 0.0 379.9 441.4 440.9 403.1 361.9 377.8 450.8
QIV 448.3 516.3 437.4 0.0 408.2 453.0 462.6 421.9 383.4 375.9 414.9
2023/24
QI 460.8 564.5 474.2 0.0 415.9 465.8 466.7 453.6 393.9 372.3 440.4
QII 470.8 587.5 500.3 0.0 415.7 461.2 485.5 483.3 409.0 376.7 421.7
Source: Central Statistical Agency
Table 22 (F9): Regional States' Consumer Price Index (Food)
December 2016 = 100

Food & Non-alcoholic

Milk, Cheese & Egg

confectionery (ND)
Sugar, jam, honey,
Bread and Cereals

Fish and sea food

Non-Alcoholic
Food products
chocolate and
Oils & Fats

Vegetables
Beverages

Beverages
Fruits
Period

Meat SOMALI
2015/16
Q.I 89.3 98.2 94.1 81.1 94.8 94.8 91.9 73.2 91.9 106.5
Q.II 91.3 100.8 86.1 89.7 92.8 118.0 93.6 73.1 86.5 101.7
QIII 93.4 101.8 93.2 94.4 91.2 120.2 92.6 76.1 89.5 101.7
QIV 93.2 100.2 99.7 88.5 87.7 114.6 117.2 78.3 85.6 99.7
2016/17
QI 95.1 101.1 105.0 88.3 91.0 108.7 126.4 78.9 99.2 100.2
QII 99.5 100.5 102.4 101.2 94.6 98.7 106.2 94.5 98.5 104.1
QIII 102.8 104.2 94.7 0.0 105.3 100.3 99.2 102.8 99.3 103.2 101.9
QIV 104.7 106.4 108.1 0.0 103.6 100.0 107.4 113.5 96.3 124.6 101.5
2017/18
QI 106.9 106.5 112.9 0.0 98.2 100.1 113.2 159.1 95.5 126.6 100.4
QII 113.9 119.4 117.9 0.0 103.6 99.9 117.9 139.6 103.2 132.0 102.9
QIII 114.4 119.6 119.9 0.0 100.4 100.1 116.2 124.5 109.4 153.4 105.4
QIV 119.7 131.9 121.6 0.0 96.8 101.0 126.1 122.6 113.3 145.2 104.3
2018/19
QI 129.0 138.5 119.6 0.0 113.2 101.1 129.1 134.6 129.6 147.2 111.9
QII 128.6 137.9 117.9 0.0 108.2 100.8 117.0 128.8 136.1 147.6 114.3
QIII 131.9 137.5 132.7 0.0 116.5 112.6 121.6 131.3 136.1 175.8 108.7
QIV 140.6 146.9 142.9 0.0 126.4 113.5 127.1 162.8 136.1 188.6 113.7
2019/20
QI 155.1 166.0 159.1 0.0 141.5 125.8 148.2 185.2 136.1 199.5 124.8
QII 162.3 185.6 156.0 0.0 129.0 122.6 144.3 196.7 136.1 200.8 128.4
QIII 158.7 183.2 164.5 0.0 133.8 127.8 143.2 181.2 116.6 209.2 131.1
QIV 155.7 172.9 160.9 0.0 133.0 122.4 141.6 189.6 128.3 202.0 126.1
2020/21
QI 166.3 183.0 185.8 0.0 142.5 133.1 145.3 263.0 116.6 208.6 133.3
QII 167.5 187.4 183.2 0.0 161.3 139.2 148.4 208.9 116.6 192.7 127.8
QIII 181.0 207.3 185.1 0.0 201.8 108.9 151.6 212.6 116.6 189.7 133.0
QIV 206.8 249.0 190.8 0.0 214.6 137.8 144.6 250.1 116.6 200.4 142.0
2021/22
QI 235.9 310.0 214.0 0.0 198.6 157.8 173.5 262.4 116.6 227.3 159.1
QII 257.4 333.4 228.0 0.0 221.4 197.9 170.6 303.0 116.6 266.2 171.8
QIII 260.8 332.3 256.8 0.0 237.4 197.9 182.7 312.1 116.6 255.9 179.4
QIV 287.2 353.8 276.4 0.0 318.2 197.9 189.2 345.5 116.6 286.9 195.4
2022/23
QI 333.1 418.7 327.8 0.0 387.1 197.9 236.5 391.7 116.6 308.0 223.1
QII 352.5 459.6 323.9 0.0 394.4 197.9 281.8 369.2 116.6 319.1 261.3
QIII 363.0 466.6 347.8 0.0 423.9 197.9 304.1 379.2 116.6 326.3 300.2
QIV 380.9 496.9 385.1 0.0 411.9 162.2 331.4 485.5 116.6 347.3 309.8
2023/24
QI 408.4 528.2 406.0 0.0 470.4 154.2 341.4 544.5 116.6 355.8 316.4
QII 455.1 601.1 436.8 0.0 507.2 159.6 354.9 632.5 116.6 375.6 346.3
Source: Central Statistical Agency
Table 22 (F10): Regional States' Consumer Price Index (Food)
December 2016= 100

Food & Non-alcoholic

Milk, Cheese & Egg

confectionery (ND)
Sugar, jam, honey,
Bread and Cereals

Fish and sea food

Non-Alcoholic
Food products
chocolate and
Oils & Fats

Vegetables
Beverages

Beverages
Fruits
Period

Meat
TIGRAY
2015/16
Q.I 92.0 95.1 90.0 100.4 101.8 74.3 98.2 74.8 75.6 99.3
Q.II 96.4 98.7 89.3 101.5 102.1 100.0 104.8 77.5 88.7 95.6
QIII 96.4 99.7 90.8 100.4 96.9 100.0 102.9 84.5 88.6 90.7
QIV 98.9 102.0 94.8 95.3 97.8 100.0 110.6 92.8 86.0 89.6
2016/17
QI 105.3 110.0 104.4 104.5 99.3 100.0 117.5 94.1 88.5 90.1
QII 103.3 107.1 103.4 106.1 100.3 100.0 102.2 97.6 97.6 97.0
QIII 101.1 102.8 100.9 0.0 104.2 101.9 99.1 97.0 94.3 100.0 105.0
QIV 104.8 109.1 106.1 0.0 106.9 106.5 102.8 99.5 95.6 99.9 103.0
2017/18
QI 111.5 116.7 123.7 0.0 111.9 108.0 108.6 107.2 102.4 95.7 101.7
QII 115.0 122.9 120.7 0.0 117.7 100.3 107.6 115.6 95.2 98.4 106.5
QIII 119.2 127.5 130.3 0.0 113.9 100.9 109.6 106.2 92.5 120.5 108.2
QIV 126.2 138.3 137.6 0.0 132.7 105.3 109.8 102.0 93.5 137.5 109.3
2018/19
QI 135.7 152.9 149.0 0.0 139.0 102.8 112.2 113.1 93.3 139.9 111.2
QII 144.7 170.4 151.5 0.0 146.1 106.3 140.4 121.9 93.5 143.3 110.1
QIII 145.5 170.1 152.1 0.0 144.6 106.7 145.7 118.6 93.9 153.6 111.6
QIV 155.9 180.3 168.3 0.0 153.0 109.4 159.9 135.6 100.3 155.3 114.7
2019/20
QI 169.6 196.7 183.7 0.0 179.9 109.7 161.5 160.4 104.0 157.3 114.5
QII 175.1 204.4 197.7 0.0 189.0 121.8 158.6 164.4 104.3 146.4 117.4
QIII 181.4 205.6 202.7 0.0 179.5 141.9 161.7 171.2 104.6 155.5 141.6
QIV 205.5 232.0 219.6 0.0 184.2 150.5 156.5 196.6 106.2 208.8 149.8
2020/21
QI 228.2 258.8 225.1 0.0 199.8 140.9 145.1 233.8 107.6 258.4 150.5
QII 239.2 265.5 228.2 0.0 210.2 238.4 158.4 236.1 137.8 272.2 152.7
QIII 239.2 265.5 228.2 0.0 210.2 238.4 158.4 236.1 137.8 272.2 152.7
QIV 239.2 265.5 228.2 0.0 210.2 238.4 158.4 236.1 137.8 272.2 152.7
2021/22
QI 239.2 265.5 228.2 0.0 210.2 238.4 158.4 236.1 137.8 272.2 152.7
QII 239.2 265.5 228.2 0.0 210.2 238.4 158.4 236.1 137.8 272.2 152.7
QIII 239.2 265.5 228.2 0.0 210.2 238.4 158.4 236.1 137.8 272.2 152.7
QIV 239.2 265.5 228.2 0.0 210.2 238.4 158.4 236.1 137.8 272.2 152.7
2022/23
QI 239.2 265.5 228.2 0.0 210.2 238.4 158.4 236.1 137.8 272.2 152.7
QII 239.2 265.5 228.2 0.0 210.2 238.4 158.4 236.1 137.8 272.2 152.7
QIII 239.2 265.5 228.2 0.0 210.2 238.4 158.4 236.1 137.8 272.2 152.7
QIV 239.2 265.5 228.2 0.0 210.2 238.4 158.4 236.1 137.8 272.2 152.7
2023/24
QI 239.2 265.5 228.2 0.0 210.2 238.4 158.4 236.1 137.8 272.2 152.7
QII 239.2 265.5 228.2 0.0 210.2 238.4 158.4 236.1 137.8 272.2 152.7
Source: Central Statistical Agency
Table 23 A1: Ethiopia: Direction of External Trade: EXPORT (In Thousands of Birr)
Country of
Continents 2015 2016 2017 2018 2019 2020 2021 2022 2023
Destination
Djibouti 1,941,788.5 2,350,936.7 3,014,309.0 3,735,439.1 3,502,027.2 3,422,940.0 5,013,370.7 8,971,437.9 6,412,804.1
Egypt 684,520.9 315,108.1 202,450.4 379,596.1 602,884.5 222,763.9 286,318.4 157,793.4 466,688.6
Ghana 6,863.1 832.1 696.9 57,554.1 18,798.4 19,029.4 50,862.8 60,573.1 18,499.9
Kenya 656,490.8 625,147.6 1,190,543.3 693,204.5 662,786.4 273,969.7 470,979.5 1,471,037.7 4,216,937.5
Libia - - - - - - - - -
Morocco 2,040.4 6,841.3 10,061.0 14,271.4 7,627.7 60,459.5 85,737.6 92,582.3 171,464.5
Nigeria 63,719.5 90,565.5 328,428.3 267,894.4 302,908.0 338,173.7 157,435.3 65,751.8 79,492.1
Ruwanda 42,368.3 57,909.1 94,341.6 134,233.8 4,579.0 43,122.8 6,902.4 8,309.0 5,342.8
Africa Somali Land - - - - - - - - -
Somalia 6,240,561.4 5,827,108.7 5,964,650.4 6,745,127.6 7,180,188.1 5,963,824.1 13,782,154.5 14,344,822.0 6,301,990.3
South Africa 226,770.4 260,057.5 426,332.0 283,532.1 213,168.8 216,105.1 408,451.5 946,156.6 574,314.5
Sudan 1,595,427.4 993,600.1 1,896,197.0 2,560,191.8 1,732,344.2 2,893,902.1 3,420,125.6 4,427,003.8 3,945,185.2
Tanzania 255.9 401.9 363.6 10,846.1 28,426.6 99,256.8 8,006.8 11,526.3 3,152.4
Uganda 4,295.5 5,913.3 4,864.9 11,353.5 10,099.0 23,442.4 41,194.8 96,529.2 79,682.1
Zambia 2,398.8 10,974.8 14,555.0 83,656.4 11,008.3 149,686.8 2,915.9 3,946.9 47.8
Zembabwe 6,716.0 4,025.0 2,602.9 7,178.9 2,997.1 18,027.9 115,037.6 38,786.1 13,204.1
Others 341,524.6 477,440.0 1,351,269.1 1,221,482.3 1,330,556.9 6,723,137.4 4,474,290.7 1,511,672.7 3,992,412.9
Total 11,815,745.3 11,026,861.7 14,501,665.3 ########## 15,610,400.08 20,467,841.6 28,323,784.2 32,207,928.9 26,281,218.7
%Share Of Continent 20.0 18.4 21.4 21.9 19.7 18.0 16.5 15.7 14.1
Austria 2,931.2 22,747.8 22,995.8 6,572.3 2,199.9 678.3 3,248.0 9,338.1 34,965.1
Belgium 1,182,982.5 1,436,499.1 1,965,237.5 1,815,142.9 1,885,848.0 2,803,691.9 5,050,196.9 7,226,357.5 4,330,435.4
Bulgaria 86,949.0 43,611.4 42,637.1 91,753.3 80,097.1 96,294.6 147,290.7 150,621.7 191,128.3
Cyprus 640.5 151.2 1,175.9 17,019.5 14,580.4 16,821.9 - 16,485.7 10,989.9
Czech Republic 21,577.7 22,939.8 18,599.1 4,910.2 4,466.6 2,337.2 12,402.4 33,950.0 22,874.7
Slovakia 1,466.6 4,072.5 7,076.4 2,144.5 1,552.8 805.1 1,270.5 249.0 9,189.5
Denmark 20,802.4 30,025.0 28,201.3 25,631.4 32,806.9 32,645.8 41,439.0 53,458.0 118,625.2
Finland 90,939.5 90,178.8 123,908.3 110,724.0 91,036.7 118,222.5 140,201.3 196,585.8 135,187.8
France 682,717.6 807,422.0 827,504.6 717,334.7 751,487.7 789,673.0 1,577,024.4 1,997,864.2 1,880,683.7
Germany 4,271,155.2 3,486,254.3 3,943,246.8 4,217,307.3 4,135,208.4 4,523,931.9 9,829,924.3 13,142,188.6 7,582,026.6
Greece 214,131.5 209,499.8 235,931.1 186,258.5 230,314.9 146,873.3 384,503.7 349,639.4 513,592.4
Hungary 15,129.0 18,955.3 16,005.0 19,660.7 10,112.7 17,500.4 28,986.4 24,304.0 10,464.8
Ireland 11,865.0 10,363.8 15,763.6 13,537.1 17,485.0 4,780.1 5,271.1 20,997.4 9,892.6
Italy 1,071,373.1 1,101,650.8 1,347,709.3 1,442,089.8 1,359,779.2 1,494,410.9 2,608,263.8 4,196,415.2 3,329,995.5
Europe Netherlands 3,910,613.0 3,911,035.2 4,177,990.4 5,256,676.3 7,828,660.8 11,179,122.0 13,729,201.1 21,554,570.4 19,184,980.8
Norway 193,648.3 190,592.2 184,970.7 162,162.0 312,830.2 374,409.1 454,761.5 841,926.4 608,891.6
Poland 18,930.3 9,048.4 13,435.8 18,237.2 23,765.7 24,019.7 43,840.5 61,614.9 224,652.3
Portugal 70,872.1 127,631.2 156,689.8 210,638.0 173,970.4 241,431.3 151,469.1 173,565.7 241,156.6
Rumania 35,255.4 12,665.6 23,638.2 20,038.6 11,055.3 19,221.3 28,389.0 49,520.0 78,177.9
Spain 312,381.6 266,256.9 262,739.3 406,304.2 513,868.4 521,805.4 781,071.6 857,371.7 642,085.9
Sweden 333,582.0 266,867.3 263,089.4 188,083.3 156,700.1 208,700.3 411,103.1 632,853.2 384,081.7
Switzerland 6,490,540.8 5,266,886.0 4,714,821.8 2,005,549.0 701,171.4 18,502,394.7 26,495,829.2 18,945,000.9 12,661,439.7
Turkey 854,569.2 463,675.1 659,682.4 1,163,249.4 1,066,064.8 1,163,636.0 1,608,316.9 1,267,476.2 2,787,049.5
Ukraine 9,366.3 14,853.7 24,420.6 27,800.3 42,717.8 56,395.9 244,549.4 11,761.6 33.3
United Kingdom 806,313.4 1,069,053.4 1,290,346.0 1,088,894.0 1,179,983.5 1,112,511.1 1,716,725.3 3,669,235.3 3,260,480.9
Russia 283,476.8 289,381.7 386,108.6 313,363.4 399,161.5 430,203.7 790,214.8 708,462.0 659,175.1
Yugoslavia - - - - - - - - -
Others 270,792.0 639,646.5 1,181,451.6 466,267.8 1,105,005.9 1,255,152.2 4,310,849.5 1,435,834.9 744,594.4
Total 21,265,002.1 19,811,964.8 21,935,376.3 ########## 22,131,932.3 45,137,669.7 70,596,343.6 77,627,647.8 59,656,850.9
%Share Of Continent 36.0 33.1 32.4 27.0 28.0 39.8 41.1 37.8 31.9
Brazil 8,764.8 9,178.4 9,179.6 163.0 77.1 - 2,659.9 953.4 207.7
Canada 216,338.4 268,404.1 270,038.6 477,155.3 382,747.5 556,491.0 887,863.9 1,499,453.4 1,448,800.7
Cuba - - - - - - - - -
America Mexico 37,776.3 40,458.2 63,779.1 103,708.1 120,383.8 74,524.9 100,733.9 26,602.7 18,177.8
United States 3,913,895.0 3,733,304.1 4,317,231.5 6,565,250.9 6,071,240.4 7,994,968.3 13,866,697.5 18,888,809.2 14,315,211.8
Others 189,789.5 231,818.7 458,804.3 682,316.7 2,744,376.7 1,374,096.1 1,904,718.3 137,247.9 719,026.6
Total 4,366,563.9 4,283,163.5 5,119,033.1 7,828,594.0 9,318,825.6 10,000,080.3 16,762,673.5 20,553,066.5 16,501,424.6
%Share Of Continent 7.4 7.2 7.6 10.6 11.8 8.8 9.8 10.0 8.8
China, Mainland 6,145,483.9 7,498,265.1 5,111,009.8 4,754,322.7 3,152,537.0 2,538,974.1 3,165,786.7 6,379,187.8 5,736,538.3
China, Taiwan 134,753.6 242,155.2 324,580.5 376,886.5 449,378.2 787,312.2 1,128,549.5 1,713,411.6 1,610,162.5
Hong Kong 434,907.0 390,835.7 419,795.4 394,923.7 254,788.1 552,168.0 929,506.3 1,138,000.7 1,117,954.7
India 1,323,550.6 1,440,185.8 1,168,606.9 1,743,919.5 2,978,534.4 1,511,613.3 3,720,285.1 4,003,815.5 7,303,008.4
Indonesia 419,364.5 581,396.8 575,381.8 990,066.8 750,329.4 931,170.3 1,333,044.1 1,074,764.0 1,281,964.7
Israel 1,697,745.0 1,366,387.4 1,487,480.1 2,801,566.2 3,184,293.1 2,919,321.9 3,916,368.0 5,244,807.2 5,650,375.4
Japan 1,388,756.3 1,541,929.9 2,233,317.5 2,711,869.3 3,564,930.5 3,350,803.2 4,505,082.1 7,153,510.5 6,183,714.9
N.Korea, Pdrk 10,146.1 31,494.6 17,897.9 12,521.0 2,846.0 464.9 20,085.1 12,069.5 56.1
S.Korea 902,688.1 1,114,526.1 1,224,971.5 1,242,317.8 1,440,765.2 2,190,959.0 3,534,663.2 6,397,024.9 6,336,915.2
Asia Kuwait 59,591.3 28,418.5 36,687.4 94,016.2 123,712.4 141,617.2 341,216.4 323,638.6 284,855.9
Lebanon 15,787.8 16,460.4 30,659.0 61,491.5 65,805.5 37,592.1 64,149.9 157,086.6 148,193.4
Malaysia 5,556.5 107,335.2 78,417.2 29,316.4 64,445.6 230,619.0 586,190.5 889,477.2 649,121.7
Pakistan 855,052.2 1,441,769.4 1,084,808.0 304,739.1 61,784.5 688,547.0 365,279.1 863,874.3 2,012,500.5
Saudi Arabia 4,028,128.5 3,981,781.2 4,400,225.0 4,974,581.1 5,667,200.5 7,175,544.1 10,160,101.3 16,324,509.2 18,183,430.1
Singapore 204,215.6 128,152.6 93,295.4 227,603.6 955,530.0 1,608,022.8 2,273,631.4 2,367,537.3 3,963,422.6
Yemen 439,271.6 362,192.6 456,992.0 1,180,754.7 1,697,120.6 1,047,539.2 1,053,818.9 964,890.9 1,271,951.1
Thailand 105,215.7 94,324.3 87,940.9 152,740.6 121,436.1 28,623.0 32,965.4 157,764.3 228,134.3
UAE 1,791,062.6 1,982,406.3 2,694,755.9 3,093,574.6 3,695,524.5 5,430,018.1 7,212,096.8 10,951,018.7 10,085,864.1
Others 1,160,854.1 1,879,038.7 3,985,634.2 4,174,926.4 3,200,481.5 5,990,857.1 10,184,707.2 6,236,276.0 7,804,783.7
Total 21,122,130.8 24,229,055.8 25,512,456.4 ########## 31,431,443.1 37,161,766.5 54,527,526.9 72,352,664.9 79,852,947.6
%Share Of Continent 35.8 40.5 37.7 39.6 39.7 32.7 31.8 35.3 42.7
Australia 417,653.3 330,080.8 473,534.0 443,828.2 516,438.5 528,841.3 1,122,336.2 1,572,759.9 1,400,004.0
Oceania Others 84,325.8 157,422.4 112,992.7 181,580.2 122,034.7 197,213.0 404,333.7 227,434.6 180,362.7
Total 501,979.2 487,503.3 586,526.7 625,408.4 638,473.2 726,054.2 1,526,669.9 1,800,194.5 1,580,366.8
%Share Of Continent 0.8 0.8 0.9 0.8 0.8 0.6 0.0 0.9 0.8
Unspecified - 628,040.5 3,068,704.1
Grand Total 59,071,421.3 59,838,549.1 67,655,057.8 ########## 79,131,074.3 113,493,412.3 ########### 205,169,543.1 186,941,512.6
Source: Ethiopian Customs Commission
Note1: Data for the year 2013 and 2014 is based on updated data from Ethiopian Customs Commission
Note2: The data for Czechoslovakia before 2013 represents the sum of Czech republic and Slovakia
 Table 23 A2: Ethiopia: Direction of External Trade: IMPORT (In thousands of Birr )

Continents Country 2015 2016 2017 2018 2019 2020 2021 2022 2023
Djibouti 4,050,783.9 13.9 1,374.8 14,392.9 642,854.3 2,266,288.6 11,043,674.1 28,152,472.80 19,682,606.03
Egypt 11,128.5 4,071,335.1 4,346,257.9 8,437,358.5 6,033,339.4 10,410,681.4 17,728,657.1 49,050,712.14 55,039,107.17
Ghana 738,056.4 2,514.6 9,412.4 3,362.3 5,384.8 24,816.0 29,743.2 50,796.57 19,978.14
Kenya 738,056.4 676,008.7 835,401.2 1,028,955.8 2,216,326.1 1,895,402.8 3,136,327.1 7,113,057.42 4,725,954.44
Libya - 2.3 0.7 - - - - - -
Nigeria 220,674.6 45,219.0 940,652.6 97,234.5 3,924.2 4,438.6 21,952.0 3,293.43 3,166,759.25
Africa Ruanda 32.9 68,067.4 731.4 354.6 929.2 4,365.6 1,256,479.2 1,730,827.32 181,091.44
Sudan 2,192,155.2 1,549,332.4 2,467,773.4 2,411,817.5 2,512,810.8 2,313,690.9 184,428.2 208,365.12 375,737.67
Tanzania 132,600.2 103,133.2 44,692.5 67,959.8 141,184.8 137,235.5 16,755.9 50,309.99 306,456.17
Uganda 7,381.5 6,962.2 5,846.1 18,620.8 14,951.7 78,110.9 98,520.6 164,270.56 258,019.04
Zambia 482.3 11,160.1 9,857.4 8,308.6 14,692.0 9,814.4 7,075.4 50,424.30 15,338.40
Others 8,224,429.0 8,258,583.7 13,223,694.2 13,817,153.2 15,946,009.4 20,369,845.5 29,387,714.9 71,838,497.29 74,356,823.03
Total 15,584,248.5 14,792,332.6 21,885,694.7 25,905,518.3 27,532,406.5 37,514,690.3 62,911,327.7 158,413,026.93 158,127,870.78
Austria 1,027,145.6 1,604,322.8 1,485,372.3 1,036,295.5 1,073,524.5 630,258.4 650,445.3 259,877.34 816,593.23
Belgium 5,435,019.7 5,044,164.5 4,151,772.7 5,753,624.6 8,634,959.5 5,848,999.6 9,163,579.4 5,179,586.93 3,465,996.64
Bulgaria 1,537,581.6 683,870.1 905,021.2 520,586.6 1,261,450.1 411,435.9 1,346,192.7 1,820,015.42 523,502.29
Cyprus 115,078.1 117,156.1 137,993.8 137,000.0 223,774.3 165,931.3 523,781.7 292,873.92 366,093.80
Czechoslovakia (former name) 276,843.1 531,941.0 561,777.1 725,051.0 595,259.1 481,128.9 485,046.1 461,548.28 770,932.41
Czech republic 236,047.0 441,959.6 531,412.2 591,755.2 521,779.0 448,591.6 372,216.5 307,686.49 532,379.61
Slovakia 40,796.1 89,981.4 30,364.9 133,295.8 73,480.1 32,537.3 112,829.5 1,280,925.43 1,379,450.05
Denmark 694,246.2 715,981.1 537,217.7 1,200,810.1 1,249,496.7 1,479,672.1 1,592,371.6 937,055.73 923,894.98
Finland 155,906.3 350,087.1 808,559.9 302,979.1 194,563.8 109,262.7 537,595.1 6,847,584.32 9,639,287.86
France 3,823,770.8 4,684,217.9 4,431,486.0 5,270,635.7 4,410,731.7 8,664,554.7 8,372,869.0 8,696,403.04 8,152,294.20
Germany 6,806,205.2 7,859,546.7 5,771,781.8 8,546,015.1 9,385,651.8 9,242,912.0 8,002,879.3 189,061.23 412,407.81
Greece 405,742.7 528,971.4 419,409.9 175,760.4 187,627.4 209,094.9 302,386.0 759,651.88 1,164,067.42
Hungary 490,887.6 530,673.3 325,514.2 426,822.1 378,765.9 513,225.0 1,095,652.0 1,517,853.80 2,472,479.81
Ireland 716,987.1 775,362.0 914,646.1 1,052,153.7 1,368,277.1 1,103,439.6 1,621,077.3 10,479,668.03 11,000,123.81
Europe Italy 10,476,893.6 15,784,350.7 15,601,881.7 10,859,889.2 8,322,257.7 10,773,755.9 11,506,882.9 5,174,951.74 5,869,563.05
Netherlands 4,604,402.8 3,982,518.3 5,161,373.9 6,435,861.3 7,062,343.8 3,274,060.8 6,266,430.6 226,370.81 325,777.04
Norway 79,266.8 162,289.4 84,019.0 99,508.3 87,383.6 187,565.8 156,031.9 1,892,760.38 1,615,729.97
Poland 735,144.5 2,284,185.2 874,973.5 808,251.5 1,085,160.2 1,456,189.1 1,198,760.2 285,601.75 362,038.91
Portugal 318,933.8 243,435.8 332,054.0 267,455.3 379,815.9 243,893.1 500,387.6 1,371,788.85 2,046,126.56
Rumania 443,410.0 4,500,592.8 2,236,388.5 3,373,800.2 2,721,518.9 1,126,385.7 3,792,996.8 2,238,456.27 3,266,156.73
Spain 2,783,107.6 2,871,957.4 3,311,894.0 1,680,175.3 2,455,395.0 2,235,461.3 3,242,302.4 1,019,841.98 1,042,807.27
Sweden 13,232,214.3 9,427,026.6 1,154,426.4 938,218.8 1,884,142.5 1,169,306.1 771,149.2 1,744,006.40 2,551,348.25
Switzerland 1,194,286.5 1,223,807.0 1,465,077.7 1,215,947.3 2,087,148.6 2,463,804.1 2,139,347.0 52,066,001.23 34,364,366.93
Turkey 10,918,514.7 12,682,665.1 14,296,491.7 16,710,238.8 17,683,063.8 28,321,826.8 36,627,248.5 15,703,420.56 4,368,414.82
United kingdom 3,863,439.0 4,557,294.9 4,709,876.8 8,281,310.1 9,569,003.6 8,604,611.7 8,544,021.3 10,592,739.48 18,163,794.80
Russia 1,745,182.4 3,579,267.5 1,245,806.0 3,568,472.1 3,009,797.2 1,759,881.9 8,793,976.3 2,263,047.73 1,214,893.64
Yugoslavia - 0.0 0.3 - - - - - -
Other 4,458,373.1 5,279,114.8 3,938,166.3 5,411,755.1 10,222,903.5 10,641,686.1 27,658,037.9 2,037,569.30 6,768,266.55
Total 76,338,583.3 90,004,799.4 74,862,982.4 84,798,617.1 95,534,016.3 101,118,343.6 144,891,448.1 135,646,348.35 123,578,788.44
Brazil 1,083,673.4 1,475,502.6 4,488,842.1 2,226,255.8 716,227.8 1,347,349.3 1,259,094.7 1,478,169.50 3,430,004.60
Canada 753,274.2 1,451,315.7 1,353,867.2 2,042,114.6 1,744,497.1 2,325,081.5 1,231,140.4 3,853,837.71 1,659,932.36
Cuba 3,976.4 1,294.5 15,130.0 1,851.3 2,641.6 2,031.7 1,812.8 852.11 1,874.07
America Mexico 159,440.1 126,433.0 249,402.2 204,860.2 224,104.3 284,611.6 354,523.8 1,185,513.34 704,101.83
United states 18,383,911.5 28,006,664.4 30,200,872.0 43,410,573.0 25,735,703.1 28,278,445.3 50,946,210.6 50,924,527.65 45,612,153.77
Others 684,766.3 303,572.4 201,799.7 270,818.2 386,632.9 4,160,665.7 4,479,859.0 7,380,503.98 3,692,756.77
Total 21,069,041.8 31,364,782.7 36,509,913.2 48,156,473.2 28,809,806.7 36,398,185.0 58,272,641.5 64,823,404.29 55,100,823.40
China, mainland 127,862,137.6 112,557,147.3 107,569,979.9 108,861,577.7 113,000,343.3 119,518,584.0 134,767,597.7 182,720,391.36 220,935,690.84
China, Taiwan 1,427,654.5 1,106,997.8 1,297,890.5 1,284,754.0 2,229,952.5 2,336,180.0 2,519,446.3 1,513,510.90 1,079,963.69
Hong Kong 276,928.2 1,370,238.4 2,768,923.7 842,521.2 182,565.5 1,165,685.5 199,754.6 278,408.96 3,716,289.75
India 24,344,942.9 28,557,164.8 24,233,274.2 30,907,887.7 36,796,683.5 51,369,798.5 103,243,911.1 120,018,663.66 88,963,695.23
Israel 614,145.1 548,689.5 1,792,675.0 616,386.7 711,291.6 592,680.2 743,319.8 1,074,811.97 895,285.22
Japan 15,185,118.0 14,472,925.3 14,722,312.6 11,330,510.1 9,260,462.8 3,990,031.8 3,886,893.6 3,623,962.71 6,112,844.83
N.korea, pdrk 107,552.8 91,536.9 531,235.1 48,542.2 529,388.8 116,388.0 44,456.0 92,270.00 14,939.93
S.korea 4,962,100.1 3,961,888.7 5,588,986.2 5,048,443.2 4,835,162.6 6,559,501.4 10,517,267.1 6,906,383.37 7,553,543.16
Asia Kuwait 13,326,143.0 13,519,748.9 22,424,256.5 43,310,223.7 46,876,977.5 12,333,071.7 36,139,876.7 46,117,801.75 28,168,501.41
Lebanon 167,754.4 106,810.2 842,739.1 44,331.3 40,490.3 26,980.9 55,135.9 357,813.04 90,611.42
Malaysia 3,588,092.8 6,251,135.7 7,515,151.6 10,079,304.3 5,928,016.9 10,744,285.1 37,955,879.4 40,451,782.47 21,618,188.28
Pakistan 1,011,155.3 746,091.4 1,937,665.6 2,555,083.2 814,628.1 1,261,370.2 2,749,543.4 1,810,973.39 2,972,301.73
Saudi arabia 10,284,257.6 6,497,893.0 12,937,477.5 6,956,990.3 10,277,787.4 12,108,482.4 24,640,270.4 99,277,034.57 74,992,135.29
Singapore 323,455.3 516,905.1 446,466.6 420,391.9 1,526,703.7 9,665,483.2 1,902,125.0 642,505.59 1,743,827.13
Yemen 132,071.4 91,481.4 434,498.0 51,446.3 67,926.9 115,865.8 113,975.5 343,400.08 145,815.16
Thailand 3,079,839.3 2,977,140.6 4,782,068.8 4,745,788.4 3,287,134.1 5,217,010.0 6,020,437.8 6,784,566.55 6,010,545.78
Others 23,628,191.8 26,809,721.3 35,575,126.7 33,814,176.7 34,876,835.4 45,287,736.4 69,549,459.2 95,717,714.90 131,001,958.09
Total 230,321,540.1 220,183,516.4 245,400,727.6 260,918,358.8 271,242,350.8 282,409,134.9 435,049,349.5 607,731,995.27 596,016,136.94
Australia 215,659.7 327,371.5 471,334.6 236,354.3 183,256.3 454,217.0 1,050,857.8 585,136.25 369,179.83
Oceania Others 120,412.3 136,368.6 - 125,049.3 134,316.0 156,031.4 147,274.5 137,640.97 327,867.76
Total 336,072.0 463,740.1 471,334.6 361,403.5 317,572.3 610,248.4 1,198,132.3 722,777.21 697,047.60
Grand Total 343,649,485.7 356,809,171.2 379,130,652.5 420,140,371.0 423,436,152.7 458,050,602.2 702,322,899.1 967,337,552.07 933,520,667.16
Source: Ethiopian Customs Commission
Table 23B: Direction of Trade** (In Millions of USD)
2022/23 2023/24
QI QII QIII QIV QI QII Percentage Change
Country of Origin Export Import Export Import Export Import Export Import Export Import Export Import Export Import
E F G H I J K L M N O P Q=O/G R=P/H
Djibouti 32.6 144.5 61.2 128.5 28.5 112.0 29.0 78.3 29.6 83.3 31.2 87.4 (49.1) (31.9)
Egypt 0.6 290.8 0.8 127.1 1.5 259.5 2.7 245.4 2.5 226.4 1.8 276.3 119.4 117.5
Ghana 0.2 0.2 0.1 0.2 0.1 0.2 0.1 0.1 0.0 0.1 0.1 0.0 2.4 (84.5)
Kenya 8.8 31.6 8.7 36.5 24.3 17.7 19.7 26.8 13.1 15.3 20.6 26.6 136.3 (27.2)
Libia - - - - - - - - - - - -
Morocco 0.9 0.1 0.2 148.0 0.1 300.5 0.9 376.8 1.2 207.0 0.5 223.7 179.6 51.1
Nigeria 0.3 0.0 0.3 0.0 0.4 0.1 0.5 0.4 0.3 57.4 0.3 0.0 1.5 40.3
Ruwanda 0.0 19.7 0.0 13.2 0.0 0.0 0.0 3.3 0.0 0.0 0.0 0.0 (30.6) (100.0)
Somali Land - 0.0 - 0.0 - - - 0.1 - 0.1 - 1.0
Africa: Somalia 65.8 - 41.0 - 40.9 - 23.1 - 22.4 - 30.5 - (25.6)
South Africa 8.4 46.8 1.5 72.2 2.5 55.7 4.0 88.0 1.9 32.7 2.0 63.1 31.0 (12.6)
Sudan 14.2 0.6 25.8 0.6 22.3 0.8 13.2 2.0 18.6 2.6 16.8 1.4 (34.9) 126.8
Tanzania 0.0 0.2 0.1 0.0 - 0.5 0.1 0.3 - 0.3 0.0 4.4 (99.8) #######
Uganda 0.8 1.4 0.4 0.5 0.3 0.6 0.6 0.5 0.3 1.2 0.2 2.5 (60.2) 410.6
Zambia 0.0 0.4 0.0 0.3 0.0 0.0 - 0.2 - 0.0 - 0.1 (62.6)
Zembabwe 0.0 0.6 0.0 - 0.1 - 0.0 0.6 0.0 1.1 0.1 0.4 80.0
Others 6.6 88.7 9.4 7.3 22.9 4.2 19.4 4.9 19.5 1.4 8.1 2.6 (13.9) (65.2)
Total 139.2 625.5 149.6 534.5 143.9 751.8 113.3 827.7 109.5 629.7 112.1 689.5 (25.1) 29.0
%Share Of Continent 14.25 13.74 19.23 11.87 16.48 17.96 11.44 21.18 13.13 15.26 14.54 14.18
Austria 0.0 2.4 0.0 1.2 0.1 6.9 0.2 2.7 0.2 3.4 0.2 2.1 ####### 76.4
Belgium 45.9 22.6 18.1 43.7 17.2 18.2 24.8 10.2 21.5 9.2 20.6 25.6 13.8 (41.5)
Bulgaria 0.4 0.3 0.5 3.8 1.0 1.5 0.7 5.1 1.2 2.1 0.6 0.9 17.4 (75.2)
Cyprus - 1.7 - 0.6 - 0.9 - 1.9 0.2 1.4 - 2.5 316.4
Czech Republic 0.1 2.4 0.1 3.1 0.1 4.4 0.1 2.1 0.1 5.6 0.0 2.0 (65.2) (36.6)
Slovakia - 1.3 - 0.6 0.0 2.9 0.1 3.2 - 1.9 0.1 1.8 206.2
Denmark 0.2 5.1 0.1 7.6 0.4 4.2 0.9 7.7 0.8 5.0 0.1 8.3 16.0 9.3
Finland 0.0 6.6 0.0 4.3 0.3 13.9 2.2 1.3 0.0 0.4 0.0 1.5 (10.3) (64.0)
France 10.7 38.0 6.1 44.2 6.5 55.4 12.2 30.4 9.3 55.7 7.7 35.2 27.0 (20.4)
Germany 77.0 37.9 38.7 46.5 39.4 30.6 48.1 46.5 30.5 34.5 22.9 37.5 (40.7) (19.3)
Greece 1.5 0.5 0.6 0.2 1.2 3.3 2.8 1.7 3.1 1.6 2.2 1.0 258.4 374.9
Hungary 0.0 1.5 0.0 7.8 0.0 5.5 0.1 7.5 0.1 4.4 0.0 3.9 13.8 (49.4)
Ireland 0.3 5.5 0.0 8.7 - 35.3 0.2 4.2 - 2.5 0.0 3.9 54.1 (55.4)
Italy 20.4 62.7 11.2 53.3 15.7 32.2 22.2 57.0 14.4 56.0 8.2 55.8 (26.3) 4.7
Netherlands 120.9 35.1 85.1 13.8 101.7 36.5 90.6 18.7 79.2 31.1 77.6 21.3 (8.9) 54.2
Europe: Norway 4.6 0.8 3.2 1.6 3.5 2.5 3.4 2.0 2.3 0.5 2.3 1.0 (28.8) (36.5)
Poland 0.4 10.2 0.1 9.5 1.4 7.8 1.5 6.1 1.2 6.5 0.5 9.1 263.0 (5.0)
Portugal 0.9 2.0 0.8 1.3 1.1 0.5 1.6 4.9 0.8 0.6 0.9 0.6 11.4 (52.3)
Rumania 0.2 17.1 0.5 6.4 0.3 4.7 0.5 0.4 0.7 31.3 0.1 1.1 (86.2) (82.4)
Spain 3.0 12.2 2.5 14.6 3.0 11.0 3.8 19.2 4.0 15.4 1.1 14.2 (55.7) (3.3)
Sweden 3.6 2.1 2.0 6.8 1.7 1.1 1.4 7.6 2.2 6.6 1.6 3.8 (19.9) (44.5)
Switzerland 51.1 4.1 52.8 21.6 47.4 33.6 47.7 5.8 79.6 2.7 86.1 5.2 63.2 (75.7)
Turkey 5.9 308.5 5.8 224.0 16.0 105.3 11.8 115.8 7.0 142.6 14.7 262.3 154.6 17.1
Ukraine - 68.1 0.0 88.3 0.0 36.0 - 38.2 - 2.1 0.0 4.6 (50.6) (94.8)
United Kingdom 19.5 66.6 17.5 63.4 15.7 50.5 17.9 19.1 14.2 55.1 12.5 204.2 (28.7) 222.1
Russia 5.3 1.3 3.7 28.2 4.6 4.5 3.1 0.6 0.9 0.2 3.6 16.7 (3.1) (40.6)
Yugoslavia - - - - - - - - - - - -
Others 18.3 7.6 1.7 20.8 3.9 4.6 3.8 11.6 2.4 4.2 2.5 100.6 46.5 384.8
Total 390.4 724.1 251.2 725.8 282.2 514.1 301.6 431.3 275.9 483.5 266.1 826.8 5.9 13.9
%Share Of Continent 39.95 15.91 32.29 16.11 32.31 12.28 30.47 11.04 33.09 11.72 34.53 17.00
Brazil - 12.6 0.0 9.7 - 1.1 - 1.6 0.0 12.8 - 46.4 (100.0) 378.1
Canada 5.8 8.1 9.6 8.3 7.1 22.3 7.7 2.5 6.7 1.8 5.1 4.0 (47.4) (51.8)
Cuba - - - 0.0 - - - 0.0 - - - 0.0 (0.2)
Mexico 0.1 11.7 0.1 3.5 0.0 5.5 0.1 1.2 0.0 2.3 0.2 3.9 114.4 10.4
America: United States 77.4 258.3 72.9 297.2 62.8 258.9 103.6 246.0 67.4 133.0 36.4 199.9 (50.1) (32.7)
Others 0.5 3.1 0.9 21.5 1.8 15.9 0.9 15.4 4.8 2.0 4.7 33.0 414.2 53.8
Total 83.9 293.8 83.6 340.3 71.7 303.9 112.2 266.6 78.9 152.8 46.4 287.2 (44.5) (15.6)
%Share Of Continent 8.58 6.45 10.75 7.56 8.21 7.26 11.34 6.82 9.46 3.70 6.02 5.91
China, Mainland 34.5 869.6 17.5 941.4 16.6 790.4 37.8 995.0 27.3 1,156.5 25.9 1,098.3 47.6 16.7
China, Taiwan 7.7 3.2 3.8 7.0 4.4 7.2 14.9 5.7 7.0 4.1 4.2 2.9 11.2 (59.0)
Hong Kong 6.5 0.6 4.4 0.5 4.0 0.7 3.8 3.6 6.6 1.1 6.1 61.4 37.3 #######
India 10.6 495.7 19.2 632.2 45.7 468.2 31.3 341.4 25.9 414.2 29.0 405.8 51.0 (35.8)
Indonesia 3.9 67.7 4.3 70.3 7.2 74.7 4.5 87.4 7.1 102.8 5.2 127.9 20.3 81.8
Israel 23.0 7.5 25.0 2.6 34.2 2.5 29.5 3.9 17.0 3.2 23.3 6.8 (6.6) 160.4
Japan 28.0 21.9 22.9 18.0 17.9 26.3 42.6 24.3 36.4 39.1 18.9 22.3 (17.7) 23.9
N.Korea, Pdrk 0.0 0.2 - 0.3 0.0 0.0 - 0.1 - 0.2 - -
S.Korea 33.3 28.4 20.9 26.4 17.9 35.5 37.4 35.5 45.5 31.1 20.5 36.3 (2.0) 37.9
Kuwait 1.5 181.1 1.8 100.5 0.8 374.6 1.6 0.0 1.5 146.8 1.2 1.0 (33.8) (99.1)
Asia: Lebanon 0.9 1.6 0.5 1.0 0.9 0.4 0.3 0.6 0.8 0.3 0.7 0.4 43.0 (63.9)
Malaysia 3.5 175.7 2.5 210.7 2.4 95.5 5.0 71.3 2.3 75.9 2.3 151.8 (7.6) (27.9)
Pakistan 1.6 7.9 2.6 5.8 3.2 12.2 9.7 8.6 15.3 9.0 8.9 24.6 244.9 325.4
Saudi Arabia 72.4 577.5 85.8 401.1 88.4 241.3 78.1 241.7 86.7 267.0 78.7 617.3 (8.2) 53.9
Singapore 15.2 1.7 11.1 1.1 27.7 1.4 16.3 4.2 13.8 21.9 15.8 4.3 41.8 307.8
Yemen 1.8 - 3.4 0.5 5.7 0.5 4.6 1.3 7.0 0.9 6.8 - 100.7 (100.0)
Thailand 0.6 27.7 0.2 37.1 2.7 46.1 0.6 23.6 0.6 22.8 0.6 18.0 238.5 (51.4)
UAE 63.2 346.4 37.1 347.2 46.5 372.2 52.0 371.0 33.1 305.0 47.2 278.0 27.2 (19.9)
Others 31.7 91.5 23.2 97.7 44.6 63.2 36.7 159.9 25.7 135.3 35.2 199.2 51.7 103.9
Total 340.1 2,905.8 286.3 2,901.4 371.0 2,612.7 406.9 2,379.1 359.5 2,857.4 330.6 3,056.1 15.4 5.3
%Share Of Continent 34.81 63.84 36.80 64.42 42.47 62.42 41.10 60.89 43.11 69.24 42.89 62.84
Australia 10.2 2.1 6.8 1.8 4.4 2.0 9.2 0.7 8.8 1.6 4.3 2.4 (36.4) 33.9
Others 1.3 0.7 0.4 0.2 0.3 0.9 1.1 1.7 1.3 1.8 0.7 1.5 74.8 531.6
Oceania: Total 11.5 2.8 7.2 2.0 4.6 2.9 10.3 2.4 10.1 3.5 5.0 3.9 (30.1) 92.4
% Share Of Continent 1.18 0.06 0.92 0.05 0.53 0.07 1.04 0.06 1.21 0.09 0.65 0.08
Unspecified 12.0 - - - 45.6 - - - 10.5 -
Grand Total 977.0 4,552.0 778.0 4,503.9 873.5 4,185.4 990.0 3,907.2 834.0 4,126.9 770.7 4,863.6 (0.9) 8.0
Source: Ethiopian Customs Commission
** All import data are updated based on revised data from the Ethiopian Customs Commission
Table 24: Volume of Exports, By Major Commodity Groups (In metric tone)
Leather
and Meat &
Leather Meat Fruits & Live Petrol. & Pet.
a
Period Coffee Oil Seeds Products Pulses Prodts. Veget. Wheat Sugar Gold Oil Cakes Animals Chat Prdts Bees Wax Tantalem Cotton
October 22,268 8,097 138 23,948 974 14,012 - 0 - 786 3,034 - - 22 -
November 14,033 4,239 162 27,911 855 12,063 1 0 - 396 2,615 - 11 3 -
December 8,981 11,461 151 28,378 952 13,289 12 0 - 245 1,791 - 56 20 -
QII 45,282 23,797 451 80,237 2,781 39,364 13 1 - 1,427 7,440 - 67 44 -
January 8,743 18,337 176 46,730 878 15,414 6 0 - 663 2,621 - 18 24 -
February 17,162 20,704 110 56,294 887 14,788 1 0 - 1,542 2,180 - - 132 -
2022/23
March 19,643 15,870 142 56,272 923 15,934 0 0 - 169 1,988 - - 754 -
QIII 45,548 54,910 428 159,296 2,688 46,136 7 1 - 2,373 6,789 - 18 910 -
April 17,608 11,218 99 29,861 776 16,794 - 0 - 382 1,568 - - 256 -
May 27,503 14,826 127 42,311 674 20,895 0 0 - 894 1,265 - - 280 -
June 32,810 13,434 124 41,299 882 12,762 62,479 - 0 - 811 1,433 - 18 6 -
Qtr IV 77,922 39,477 349 113,470 2,333 50,451 62,479 0 1 - 2,087 4,265 - 18 541 -
July 22,799 7,920 117 35,850 843 12,605 - - 0 - 6,281 1,368 - 18 3 -
August 27,183 5,729 182 37,737 730 21,343 - - 0 - 1,911 1,542 - 18 400 -
September 17,792 4,046 168 36,237 642 15,590 - - 0 - 2,607 1,354 - 18 8 -
Qtr I 67,774 17,696 467 109,824 2,215 49,538 - 1 - 10,800 4,265 - 54 412 -
2023/24
October 20,138 4,911 121 42,879 670 16,097 - - 0 - 1,780 1,344 - - 9 -
November 16,325 11,863 147 35,517 973 19,445 - - 0 - 2,722 1,533 - - 12 -
December 13,983 27,212 72 31,008 790 17,522 - - 0 - 4,652 1,751 - - 30 -
Qtr II 50,446 43,986 340 109,403 2,432 53,063 - 1 - 9,153 4,628 - - 50 -
Table 24 (continued):
Text. & Cereals and Natural Animal Natural Electricity (in Grand
Period Text. Prdts Flour Gum Civet Hop Fodder Honey Marble Flower Beverage Spices Others '1000' kwh) Others* Re-Exports Total*
October 2,883.9 3,195.6 34.5 - - - 0.5 - 8,905.1 380.5 440.8 6,696.3 124,304.9 22,559.3 95,817.72
November 2,475.2 407.1 0.4 - - - 5.0 - 9,137.5 446.3 508.1 11,435.8 119,532.3 24,418.3 86,705.62
December 2,182.9 1,449.5 - - - - 0.7 - 6,618.3 881.3 262.9 7,319.7 127,833.7 18,734.9 84,050.16
QII 7,542 5,052 35 - - - 6 - 24,661 1,708 1,212 25,452 371,671 65,713 266,573
January 2,664 2,439 0 - - - - - 8,955 222 563 10,380 128,801 25,248 118,833
February 3,180 5,504 66 - - - 1 - 9,648 274 715 9,460 344,864 28,980 142,648
2022/23
March 3,258 7,333 75 - - - 1 - 9,246 263 313 10,929 244,903 32,172 143,114
QIII 9,102 15,276 141 - - - 2 - 27,849 760 1,592 30,769 718,568 86,401 404,594
April 2,083 3,542 31 - - - - - 10,285 275 299 6,430 124,692 23,201 101,506
May 2,193 6,017 84 - - - - - 8,004 295 442 12,544 91,104 29,859 138,354
June 2,356 3,892 0 - - - 0 - 7,797 603 687 10,343 102,010 25,684 191,736
Qtr IV 6,633 13,451 115 - - - 0 - 26,086 1,173 1,428 29,316 317,806 78,744 - 431,596
July 2,401 446 30 - - - 0 - 7,256 412 467 8,568 111,760 19,583 107,384
August 3,381 3,044 237 - - - 5 - 8,226 353 1,246 9,280 129,081 26,172 122,549
September 2,821 1,489 30 - - - 1 - 8,182 184 770 8,465 118,204 21,949 100,405
Qtr I 8,603 4,979 297 - - - 6 - 23,663 949 2,482 26,313 359,045 67,704 330,338
2023/24
October 3,101 4,650 29 - - - 1 - 7,275 374 653 7,480 101,743 23,571 111,511
November 2,575 1,966 14 - - - - - 7,981 175 774 6,490 119,025 19,986 108,510
December 1,601 245 60 - - - 0 - 8,036 212 339 7,174 178,988 17,695 114,684
Qtr II 7,277 6,860 103 - - - 1 - 23,291 761 1,765 21,144 399,755 61,252 334,705
Source: Ethiopian Customs Commission, Ethiopian Electric Power (EEP) and Ethiopian Electric Utility (EEU)
Table 25: Value of Exports, by Major Commodity Groups (In Thusands of Birr)
Leather and
Leather Meat & Meat Fruits & Petrol. & Pet.
Coffee Oil Seeds products Pulses Prodts. Vegetables Wheat Sugar Gold Oil Cakes Live Animals Chat Prdts Bees Wax Tantalem Cotton
October 6,153,208.2 688,440.0 115,671.9 940,543.1 440,752.0 580,301.3 - 861,030.2 89,624.3 983,465.2 - - 98,970.8 -
November 3,901,570.3 384,035.0 145,652.9 1,082,543.5 432,304.3 711,593.0 1,616.3 961,571.9 43,437.3 879,385.4 - 4,340.3 1,562.2 -
December 2,363,052.8 985,277.0 132,638.4 1,286,366.6 460,356.9 1,073,233.4 13,144.4 948,511.9 42,341.6 987,647.4 - 23,521.5 88,827.4 -
Qtr II 12,417,831.4 2,057,752.0 393,963.2 3,309,453.2 1,333,413.3 2,365,127.7 14,760.7 2,771,114.0 - 175,403.3 2,850,497.9 - 27,861.9 189,360.4 -
January 2,326,842.6 1,617,450.3 93,710.7 1,888,880.9 333,644.1 277,120.7 346.5 1,025,435.5 80,982.5 1,408,157.0 - 7,772.8 109,310.4 -
February 4,616,844.1 1,884,602.9 115,066.3 2,489,095.0 326,277.7 274,104.0 19.0 698,268.7 183,211.7 1,194,707.6 - - 117,803.1 -
2022/23
March 5,805,297.5 1,483,609.5 113,995.8 2,513,191.2 367,399.1 294,832.6 1.0 811,558.2 30,475.2 1,108,485.3 - - 127,067.9 -
Qtr III 12,748,984.1 4,985,662.7 322,772.8 6,891,167.1 1,027,320.8 846,057.3 366.4 2,535,262.3 - 294,669.4 3,711,349.9 - 7,772.8 354,181.4 -
April 5,451,983.2 1,110,266.4 82,921.8 1,498,358.2 307,542.4 311,113.7 - 734,596.9 56,512.6 867,815.1 - - 10,688.7 -
May 8,556,888.7 1,537,543.1 104,158.3 1,832,302.6 228,053.2 361,666.3 0.4 882,541.0 111,372.7 696,875.0 - - 105,392.0 -
June 9,928,362.2 1,314,177.8 81,567.5 1,735,021.1 312,377.3 236,597.6 1,701,716.9 - 923,134.1 66,930.4 798,018.1 - 8,007.0 10,825.2 -
Qtr IV 23,937,234.0 3,961,987.3 268,647.6 5,065,682.0 847,972.9 909,377.6 1,701,716.9 0.4 2,540,271.9 - 234,815.8 2,362,708.3 - 8,007.0 126,905.9 -
July 6,910,044.4 732,275.0 106,818.9 1,505,440.7 237,556.4 241,394.6 - - 1,425,012.6 214,975.6 758,775.6 - 7,958.3 10,244.6 -
August 7,724,828.7 595,448.9 124,675.0 1,673,350.5 276,490.0 414,359.1 - - 1,642,067.5 119,401.6 863,692.3 - 8,065.8 3,983.1 -
September 4,861,843.2 406,422.8 128,813.7 1,520,081.8 234,165.2 313,717.6 - - 1,262,060.2 102,457.7 755,018.6 - 7,521.5 21,546.9 -
Qtr I 19,496,716.4 1,734,146.7 360,307.6 4,698,873.0 748,211.5 969,471.3 - 4,329,140.3 - 436,834.9 2,377,486.5 - 23,545.6 35,774.7 -
2023/24
October 5,192,245.1 444,854.8 104,216.6 1,834,243.2 261,980.7 316,860.3 - - 840,526.7 147,492.1 729,154.4 - - 46,016.3 -
November 3,830,364.7 1,186,236.0 105,180.6 1,599,083.6 303,034.8 380,018.4 - - 1,476,041.7 159,324.0 851,232.5 - - 21,165.9 -
December 3,113,157.9 2,738,304.8 80,242.3 1,478,895.5 286,669.9 342,264.3 - - 2,434,626.2 277,507.7 997,290.5 - - 27,288.2 -
Qtr II 12,135,767.8 4,369,395.7 289,639.5 4,912,222.3 851,685.4 1,039,143.1 - 4,751,194.6 - 584,323.8 2,577,677.4 - - 94,470.4 -

Table 25 (continued):
Text. & Text. Cereals and Animal Natural
Prdts Flour Natural Gum Civet Hop Fodder Honey Marble Flower Beverage Spices Others Electricity Others* Re-Exports Grand Total
October 901,795.7 207,805.7 9,668.4 - - - 480.5 - 2,516,781.8 37,759.7 88,480.8 451,012.0 362,788.3 4,675,543.6 15,528,580.0
November 970,440.9 117,009.5 1,333.9 - - - 4,236.8 - 2,649,810.0 46,940.9 101,647.3 655,819.9 368,067.5 4,916,868.9 13,464,919.2
December 887,761.7 93,840.2 - - - - 741.5 - 1,959,960.8 40,077.9 43,088.8 377,018.3 390,690.6 3,882,007.2 12,198,099.1
Qtr II 2,759,998.2 418,655.4 11,002.3 - - - 5,458.8 - 7,126,552.6 124,778.6 233,216.9 1,483,850.1 1,121,546.4 13,474,419.7 - 41,191,598.4
January 579,371.0 96,148.4 173.8 - - - - - 2,442,856.7 11,394.9 36,468.4 338,284.0 422,452.7 4,036,460.3 13,096,803.6
February 628,261.0 222,728.7 3,037.7 - - - 108.2 - 2,563,417.5 12,949.6 48,618.5 367,892.4 615,130.0 4,579,946.6 16,362,143.6
2022/23
March 608,067.6 284,087.3 9,376.5 - - - 209.6 - 2,607,251.0 15,504.6 22,820.5 381,885.4 806,852.0 4,863,122.5 17,391,967.8
Qtr III 1,815,699.6 602,964.4 12,588.0 - - - 317.8 - 7,613,525.2 39,849.2 107,907.4 1,088,061.8 1,844,434.7 13,479,529.4 - 46,850,915.0
April 492,359.1 134,680.5 9,348.8 - - - - - 2,651,162.6 12,912.7 22,158.1 265,662.0 557,096.9 4,156,069.5 14,577,179.8
May 490,376.4 222,053.7 15,531.1 - - - - - 2,046,671.9 16,772.0 20,557.5 381,142.0 440,357.2 3,738,853.9 18,050,255.2
June 538,947.0 153,199.5 111.6 - - - 90.2 - 2,018,538.2 26,790.3 41,804.9 1,033,462.4 484,051.0 4,307,820.4 21,413,730.4
Qtr IV 1,521,682.5 509,933.8 24,991.5 - - - 90.2 - 6,716,372.6 56,475.0 84,520.6 1,680,266.5 1,481,505.1 12,202,743.7 - 54,041,165.4
July 521,265.9 40,757.1 10,015.0 - - - 27.2 - 1,911,962.8 22,228.3 17,822.3 363,491.1 389,895.4 3,287,709.7 15,427,961.7
August 661,723.3 119,668.6 32,792.9 - - - 4,725.1 - 2,126,528.3 20,443.6 53,411.0 331,786.5 424,750.2 3,779,812.6 17,222,192.2
September 549,515.5 71,741.6 13,832.8 - - - 443.4 - 2,120,787.9 7,389.5 40,656.1 333,408.9 395,117.2 3,554,439.7 13,146,541.9
Qtr I 1,732,504.7 232,167.3 56,640.7 - - - 5,195.7 - 6,159,278.9 50,061.4 111,889.4 1,028,686.4 1,209,762.8 10,621,962.0 - 45,796,695.8
2023/24
October 613,917.8 167,354.5 2,203.7 - - - 421.4 - 1,894,430.7 20,614.5 35,356.9 340,820.1 353,599.4 3,474,735.3 13,346,309.3
November 543,579.9 105,733.7 1,051.3 - - - - - 2,138,296.5 10,772.7 35,415.6 870,962.6 411,015.4 4,137,993.6 14,028,510.1
December 432,577.4 24,917.3 4,661.4 - - - 3.2 - 2,282,387.0 12,897.8 29,716.4 301,831.4 630,024.0 3,746,304.1 15,495,263.2
Qtr II 1,590,075.1 298,005.4 7,916.4 - - - 424.6 - 6,315,114.2 44,285.0 100,488.9 1,513,614.1 1,394,638.8 11,359,033.0 - 42,870,082.6
Source: Ethiopian Customs Commission, Ethiopian Electric Power (EEP) and Ethiopian Electric Utility (EEU)
Table 26: Value of Imports, by Major Commodity Groups** (In Thusands of Birr)

Food & Live Petroleum Medical & Paper & Paper

Period Animals Beverages Tobacco Petroleum Crude Prod.**** Chemicals Fertilizers Pharm. Prod Soap & Polish Rubber Prod. Manfc.
October 11,273,025 132,193 26,704 2,021 16,397,006 1,078,250 2,099,216 4,471 622,520 1,530,615 627,800
November 8,042,285 102,018 21,188 - 17,602,993 1,126,311 1,781,301 12,857 571,067 1,311,295 731,263
December 8,872,358 125,168 38,827 - 13,855,652 1,186,109 3,786,209 11,390 841,584 1,459,988 790,376
Qtr II 28,187,669 359,380 86,719 2,021 47,855,652 3,390,671 7,666,726 28,719 2,035,171 4,301,897 2,149,440
January 3,802,929 43,678 20,509 - 15,365,622 1,127,792 2,238,202 2,718 769,824 1,096,546 808,116
February 5,010,526 94,456 21,865 3,201 14,587,235 1,453,159 2,610,463 6,116 921,844 1,000,044 883,643
2022/23
March 5,090,787 124,461 37,562 - 22,886,531 1,621,606 3,005,076 29,274 529,142 1,311,450 1,193,131
Qtr III 13,904,242 262,594 79,936 3,201 52,839,388 4,202,557 7,853,742 38,108 2,220,810 3,408,040 2,884,890
April 9,096,417 23,996 42,313 - 22,976,201 903,745 2,028,985 14,782 628,841 1,106,648 864,035
May 6,965,233 166,688 16,797 - 16,138,358 1,312,571 2,545,414 1,081 575,420 1,428,982 658,056
June 2,465,215 73,293 50,711 - 12,239,788 1,039,227 3,598,530 39,382 812,290 951,496 613,837
Qtr IV 18,526,865 263,976 109,821 - 51,354,346 3,255,544 8,172,928 55,245 2,016,550 3,487,126 2,135,928
July 3902792.066 116044.7102 24409.61607 0 12124977.46 1395094.683 3345965.395 69357.61447 650760.5546 1473040.965 909170.78
August 2738992.025 176860.8239 18304.86679 1932.665596 20764825.88 1140982.425 2712220.037 28198.77196 937162.4321 1656015.274 972148.7288
September 2790262.627 180334.4953 59969.27592 0 16147132.7 1609954.276 1947163.059 64753.20114 854961.7169 1168779.904 862222.3205
Qtr I 21236545.02 370659.3457 125769.5275 4278.870888 56937646.8 3231386.899 5092089.161 61854.35669 1193076.211 3478814.735 1493720.544
2023/24
October 4336979.543 141484.1089 27226.71184 0 20491172.47 1257192.564 2556637.391 170455.6837 570526.412 1074294.726 646558.451
November 3705941.68 224985.2588 20518.96042 0 18079983.14 1175328.549 3179592.727 90026.0859 787121.5478 1646069.983 550954.5812
December 4198234.202 268347.4327 21511.36436 0 17430677.32 921368.1395 2780463.896 170717.364 527452.0283 1097398.047 485186.4257
Qtr II 12241155.42 634816.8005 69257.03662 0 56001832.94 3353889.252 8516694.014 431199.1336 1885099.988 3817762.756 1682699.458
Table 26 (continued):
Glass & Glass Metal & Metal Machinery & Road Motor Electrical Telecomm.
Period Textiles Clothings Ware Manfc. Aircraft Vehicles Materials Grain* Appara. Others GRAND TOTAL
October 1,639,788 490,472 553,607 4,477,090 8,691,543 327,558 3,286,198 2,909,541 198,596 32,404,958 85,863,633
November 1,577,299 483,432 458,010 5,018,734 7,729,305 826,815 5,214,421 821,322 207,678 22,300,320 75,118,592
December 1,549,602 716,421 489,055 4,506,076 6,735,475 862,067 3,533,204 516,240 695,734 27,475,949 77,531,244
Qtr II 4,766,689 1,690,324 1,500,673 14,001,901 23,156,323 2,016,439 12,033,822 4,247,102 1,102,008 82,181,227 238,513,469
January 1,788,974 541,501 422,654 3,760,946 6,393,209 350,395 2,604,315 1,193,094 124,735 35,379,151 76,641,816
February 1,279,927 504,151 481,763 4,338,345 7,610,995 366,471 1,940,404 606,744 250,318 22,025,374 65,390,302
2022/23
March 1,733,159 890,859 557,913 7,730,538 5,705,915 389,817 2,856,110 1,316,734 289,051 26,418,989 82,401,370
Qtr III 4,802,060 1,936,510 1,462,331 15,829,828 19,710,119 1,106,683 7,400,830 3,116,572 664,103 83,823,514 224,433,488
April 1,612,363 1,163,483 401,604 4,921,484 5,513,639 447,737 2,282,145 1,214,334 88,599 8,372,093 62,489,111
May 2,214,149 1,244,397 387,011 7,329,760 8,248,675 934,082 3,437,178 1,457,803 364,670 25,132,915 79,101,437
June 1,995,309 727,200 402,281 4,499,026 6,288,540 885,645 3,258,074 1,658,885 245,627 30,196,714 70,382,184
Qtr IV 5,821,822 3,135,080 1,190,896 16,750,270 20,050,854 2,267,464 8,977,397 4,331,022 698,897 63,701,722 211,972,731
July 1532642.013 576432.8089 422998.3994 5232989.465 6079406.791 1240205.285 3506233.297 906337.8838 181505.8122 30186849.65 72970877.37
August 1910283.845 1013366.214 554431.0429 7740773.621 8150531.924 1285473.228 3744463.323 1827878.955 256219.175 31634709.82 87437896.12
September 1889202.956 634788.5432 597468.6756 6790419.031 9407928.498 1153725.798 2715335.481 1270465.994 175231.8208 17185837.62 66235472
Qtr I 4863377.639 1958875.674 1249917.992 17112153.64 25152881.55 1387144.628 12886015.12 7703006.829 870116.9239 79398189.34 226644245.5
2023/24
October 2401818.392 487706.6827 411629.4584 5859190.119 10913462.79 1079921.023 2771583.034 2158041.504 26608.90521 37926116.52 93150564.99
November 3423696.007 703357.4057 557285.5105 7286175.575 12662128.14 770971.9128 3164114.366 1826567.953 161856.4647 28774822.52 86964930.41
December 2447702.358 584699.9523 355327.4796 5711855.922 21918406.16 1049192.813 3295997.377 1354703.056 381356.9419 26708811.35 90354706.57
Qtr II 8273216.758 1775764.041 1324242.448 18857221.62 45493997.09 2900085.749 9231694.778 5339312.512 569822.3118 93409750.38 270470202
Note: Food and Live animal also includes Grain
Source: Ethiopian Customs Commission
*** Data on import of petroleum products are obtained from Ethiopian Petroleum Enterprise
** All the data are updated based on revised data from the Ethiopian Customs Commission
Table 27: Volume of Imports, by Major Commodity Groups** (In Metric Tons)
Food & Live Petroleum Medical & Soap & Paper & Paper
Period Animals Beverages Tobacco Petroleum Crude Prod.**** Chemicals Fertilizers Pharm. Prod Polish Rubber Prod. Manfc.
October 313,825.1 1,409.1 99.9 18.8 307,111.0 18,761.9 2,992.5 1.0 5,174.9 8,420.1 8,311.2
November 207,644.7 772.1 42.9 - 324,893.8 17,173.2 1,843.8 26.7 5,973.9 6,299.8 9,546.8
December 195,585.1 879.4 117.8 - 292,381.9 16,032.4 1,852.9 8.8 5,684.6 6,765.7 9,429.9
Qtr II 717,054.9 3,060.7 260.6 18.8 924,386.8 51,967.5 6,689.2 36.5 16,833.4 21,485.5 27,288.0
January 100,416.3 459.0 1,419.8 - 297,441.7 16,077.6 2,250.5 7.5 5,057.7 7,046.2 11,477.5
2022/23 February 122,874.4 896.2 49.7 34.3 282,360.0 21,039.6 2,660.0 5.6 5,839.0 5,566.0 13,454.5
March 116,745.1 1,068.3 111.8 - 463,556.4 22,121.5 4,038.4 24.1 5,798.4 7,503.7 13,382.9
Qtr III 340,035.7 2,423.5 1,581.3 34.3 1,043,358.0 59,238.7 8,948.9 37.1 16,695.1 20,115.8 38,315.0
April 238,042.9 288.8 105.5 - 359,972.0 13,748.6 2,370.0 5.5 5,318.4 8,211.5 10,674.5
May 166,644.4 1,249.1 45.4 - 369,098.1 16,633.7 1,709.7 0.7 6,098.2 12,589.2 7,348.3
June 68,060.6 507.3 112.0 - 274,772.6 15,193.6 4,716.6 12.8 5,360.0 6,694.4 9,281.7
Qtr IV 472,747.9 2,045.2 262.9 - 1,003,842.7 45,575.9 8,796.3 19.0 16,776.6 27,495.2 27,304.5
July 112,485.2 1,026.4 47.4 - 257,232.7 18,301.1 3,140.9 23.7 6,898.2 9,245.9 12,895.3
August 73,802.2 1,467.8 187.5 18.9 374,791.7 15,141.1 3,124.3 8.9 10,203.0 8,799.2 13,602.6
September 80,419.9 1,366.4 129.3 - 280,419.9 23,207.2 2,283.0 63.1 10,772.0 6,389.6 10,781.6
Qtr I 266,707.3 3,860.6 364.2 18.9 912,444.3 56,649.4 8,548.1 95.8 27,873.2 24,434.7 37,279.4
2023/24
October 145,740.9 1,493.7 73.4 - 370,413.0 17,351.0 2,804.4 65.0 7,323.8 13,338.1 10,302.9
November 107,520.3 1,608.0 46.5 - 350,100.6 16,778.4 1,830.4 36.2 7,954.3 10,838.9 6,803.1
December 176,536.8 1,961.4 104.0 - 352,921.9 16,039.0 1,950.8 97.8 5,592.8 8,005.5 7,614.6
Qtr II 717,054.9 3,060.7 260.6 18.8 924,386.8 51,967.5 6,689.2 36.5 16,833.4 21,485.5 27,288.0
Table 27 (continued):
Glass & Glass Metal & Metal Machinery & Road Motor Electrical Telecomm.
Period Textiles Clothings Ware Manfc. Aircraft Vehicles Materials Grain* Appara. Others GRAND TOTAL
October 11,705.8 1,253.7 12,762.4 166,628.9 23,787.6 1,515.2 6,848.1 105,134.9 36.4 578,970.1 1,469,633.7
November 10,273.5 1,220.8 11,586.3 121,884.2 16,182.0 2,095.2 5,554.6 27,441.0 33.2 336,124.9 1,079,172.7
December 10,378.5 1,730.0 11,191.9 73,524.4 14,457.6 3,435.5 4,203.5 23,168.1 60.6 443,472.5 1,091,193.1
Qtr II 32,357.81 4,204.58 35,540.65 362,037.45 54,427.20 7,045.88 16,606.22 155,743.91 130.27 1,358,567.51 3,639,999.45
January 13,582.9 1,338.0 8,677.8 207,281.2 12,764.0 1,289.8 8,049.2 40,269.2 42.4 543,518.4 1,238,197.6
February 10,600.3 1,253.5 9,009.3 72,111.8 13,194.7 1,229.6 8,085.5 17,578.6 62.8 319,577.8 889,904.5
2022/23
March 12,911.4 1,860.1 10,210.7 74,509.7 17,184.2 1,582.7 6,236.2 37,703.2 36.6 332,952.5 1,091,834.6
Qtr III 37,094.54 4,451.59 27,897.85 353,902.72 43,142.96 4,102.09 22,370.84 95,551.04 141.78 1,196,048.74 3,219,936.64
April 12,606.7 1,606.6 9,584.6 70,639.5 16,084.5 1,265.9 4,040.2 37,547.2 24.3 170,400.7 924,990.7
May 14,974.1 2,924.6 7,745.6 298,405.2 24,635.6 2,531.9 6,830.2 43,617.0 5.9 398,234.5 1,337,704.3
June 13,934.5 2,346.6 11,029.6 264,040.6 18,288.5 3,644.2 5,220.2 47,613.0 57.3 599,470.5 1,302,743.6
Qtr IV 41,515.30 6,877.73 28,359.79 633,085.32 59,008.57 7,441.97 16,090.64 128,777.27 87.56 1,168,105.58 3,565,438.58
July 11,643.3 1,765.4 9,678.4 82,828.7 15,953.6 4,191.2 6,457.0 24,866.8 31.5 563,403.6 1,117,249.4
August 13,163.6 2,098.5 12,132.4 437,636.1 18,563.7 4,620.6 6,828.2 47,367.3 30.3 461,904.2 1,458,124.8
September 13,803.5 1,670.1 12,004.6 1,370,026.0 19,432.7 4,289.5 5,997.7 34,613.3 27.2 197,694.1 2,040,777.4
Qtr I 38,610.47 5,534.04 33,815.32 1,890,490.82 53,950.05 13,101.34 19,282.89 106,847.32 89.07 1,223,001.87 4,616,151.68
2023/24
October 16,536.0 1,845.1 9,276.3 2,559,009.6 19,995.4 3,855.5 6,290.5 74,977.1 12.0 651,597.3 3,837,323.8
November 16,416.0 1,970.3 13,091.4 743,135.9 19,808.5 2,498.8 6,035.4 50,642.7 21.7 516,981.7 1,823,476.2
December 16,063.3 2,012.2 7,904.6 98,875.0 22,599.4 3,555.6 6,794.0 56,358.4 44.9 578,057.3 1,306,731.0
Qtr II 32,357.81 4,204.58 35,540.65 362,037.45 54,427.20 7,045.88 16,606.22 155,743.91 130.27 1,358,567.51 6,967,531.04
Note : Food and Live animal also includes Grain
Source: Ethiopian Customs Commission
*** Data on import of petroleum products are obtained from Ethiopian Petroleum Enterprise
** All the data are updated based on revised data from the Ethiopian Customs Commission
Table 28: Value of Imports, by End-Use**
2021/22 2022/23 2023/24
Categories Qtr IV Annual QI QII Qtr III Qtr IV Annual QI QII
Raw Materials 1,432.28 5,577.02 1,143.14 1,579.44 1,756.38 1,273.94 5,752.90 1,534.74 1,982.70
Semi-finished Goods 71,649.42 184,980.29 40,612.47 36,351.09 48,358.41 48,507.44 173,829.41 52,143.33 46,636.87
Chemicals 5,222.49 24,699.48 6,794.20 6,359.63 7,364.22 6,998.98 27,517.04 8,121.14 7,029.29
Fertilizers 45,457.98 70,195.28 10,197.31 5,388.90 16,520.96 17,182.19 49,289.35 18,695.30 13,814.23
Textile Materials 2,661.97 9,507.58 2,662.59 2,501.00 2,531.48 2,669.22 10,364.29 2,395.25 2,278.47
Others 18,306.98 80,577.94 20,958.37 22,101.56 21,941.75 21,657.05 86,658.73 22,931.65 23,514.89
Fuel 61,029.88 169,859.55 58,792.87 50,104.09 54,307.65 47,921.79 211,126.40 50,248.69 57,804.42
Crude petroleum 3.92 7.18 3.37 1.65 2.62 - 7.64 1.43 -
Petroleum Products* 59,026.72 165,014.81 57,581.73 47,855.65 52,839.39 45,519.53 203,796.30 49,036.94 56,001.83
Others 1,999.24 4,837.57 1,207.77 2,246.78 1,465.64 2,402.26 7,322.46 1,210.33 1,802.58
Capital Goods 46,717.86 148,132.94 55,181.93 53,879.47 45,353.93 47,728.19 202,143.52 58,596.03 84,211.36
Transport 2,233.57 15,688.20 11,008.31 10,697.42 8,554.25 8,468.69 38,728.67 12,567.11 21,024.63
Tyres for Heavy Vehicles 869.01 4,394.44 992.00 1,376.97 937.24 1,048.38 4,354.59 1,105.34 1,057.23
Heavy Road Motor Veh. 861.06 4,175.33 6,286.64 6,897.51 5,865.87 6,057.07 25,107.09 6,260.06 7,103.18
Aircraft 451.48 6,624.19 3,674.01 2,324.56 1,658.33 1,028.15 8,685.05 5,081.39 12,760.43
Others 52.01 494.24 55.66 98.38 92.81 335.09 581.94 120.32 103.79
Agricultural 726.41 2,678.25 861.95 1,471.06 1,320.32 1,334.51 4,987.84 1,093.99 927.75
Industrial 43,757.88 129,766.49 43,311.67 41,711.00 35,479.36 37,924.99 158,427.01 44,934.94 62,258.97
Consumer Goods 75,259.02 368,192.64 80,967.21 94,934.42 73,035.45 65,158.65 314,095.72 62,298.21 77,815.35
Durables 10,297.72 39,701.10 19,111.01 21,544.43 18,590.29 17,827.36 77,073.09 18,549.87 19,509.97
Radio & T.V. 614.77 2,348.43 1,333.01 1,673.41 1,404.23 1,684.18 6,094.82 1,427.11 1,477.67
Tyres for cars & Other Veh. 405.69 2,202.90 579.55 565.18 589.29 587.70 2,321.72 651.16 536.37
Cars & Other Veh. 198.53 852.77 8,907.97 9,104.83 8,161.36 7,939.07 34,113.23 7,540.18 8,388.08
Others 9,078.72 34,296.99 8,290.47 10,201.02 8,435.41 7,616.41 34,543.31 8,931.43 9,107.84
Non-durables 64,961.30 328,491.55 61,856.20 73,389.99 54,445.16 47,331.29 237,022.64 43,748.34 58,305.38
Cereals 17,866.08 105,138.02 14,316.83 18,165.97 9,900.14 12,862.42 55,245.36 5,888.33 9,769.12
Other Food 13,820.13 68,806.45 11,831.00 21,266.11 14,239.12 9,350.23 56,686.47 9,011.11 12,154.00
Medical & Pharmaceuticals 5,658.09 38,536.00 9,271.70 7,503.94 11,112.87 8,182.71 36,071.23 8,427.72 10,267.94
Textile Fabrics 4,342.16 16,603.16 4,981.47 5,053.82 5,653.93 6,727.56 22,416.79 6,598.08 6,280.21
Others 23,274.84 99,407.91 21,455.18 21,400.16 13,539.09 10,208.36 66,602.79 13,823.10 19,834.10
Miscellaneous 2,221.65 7,277.05 1,366.37 1,664.96 1,621.68 1,382.73 6,035.74 1,823.24 2,019.51
Total Imports 258,310.12 884,019.49 238,064.00 238,513.47 224,433.49 211,972.73 912,983.69 226,644.25 270,470.20
Source: Ethiopian Customs Commission
* Data on import of petroleum products are obtained from Ethiopian Petroleum Enterprise
** All the data are updated based on revised data from the Ethiopian Customs Commission
Table 29: Number and Investment Capital of Dometic and Foreign Projects Approved by Sector
(In Millions of Birr)

2022/23 2023/24

Sector/Sub-sector QI QII QIII QIV QI QII

No of Investment No of Investment No of Investment No of Investment No of Investment No of Investment

projects Capital projects Capital projects Capital projects Capital projects Capital projects Capital

Manufacturing 5 193 7 60.5 4 33.2 5 77.0 19 1,677 4 531.4

Agriculture, hunting and forestry 1 20

Real estate, renting and business activities 5 34 4 636.2 1 7.0 3 2513.6 4 42.6

Hotels and restaurants 1 15 1 147.22

Education 1 1500.0

Health and social work 1 3 1 5.0 1 40.7 1 118

Construction 7 25 1 10.6 3 51.7 3 30.8 1 2

Wholesale, retail trade and repair service

Transport, storage and communication 4 111

Mining and Quarrying

Electricity, gas, steam and water supply

Construction machinery leasing

Fishing
Other community, social
and personal service activities

Others 1 33 2 667.2 1 16.5 1 5.5

Grand Total 24 434 16 2879.6 9 132.6 12 2638.0 19 1,677 12 846.716

Source: Ethiopia Investment Agency
Table 30: Expected Employment Creation of Approved Domestic $ Foreign Investment Projects by Sector[PERMANENT & TEMPORARY]

2014(2021/22) 2022/23 2023/24

QII QIII QIV QI QII QIII QIV QI QII
Perm. Tempo. Perm. Tempo. Perm. Tempo. Perm. Tempo. Perm. Tempo. Perm. Tempo. Perm. Tempo. Perm. Tempo. Perm. Tempo.
Sector/Sub-sector Emp. Emp. Emp. Emp. Emp. Emp. Emp. Emp. Emp. Emp. Emp. Emp. Emp. Emp. Emp. Emp. Emp. Emp.

Manufacturing 1916 72 479 70 702 115 162 49 253 77 352 72 1,567 639 644 28

Agriculture, hunting and forestry

Real estate, renting and business activities 102 23 742 102 99 219 85 55 72 2300 448 2020 192 146

Hotels and restaurants 60 80 87

Education 120 40

Health and social work 2 5 12 20 52 102 2 3

Construction 30 24 2 5 30 30 28 10 705 310

Wholesale, retail trade and repair service

Transport, storage and communication

Mining and Quarrying

Electricity, gas, steam and water supply

Construction machinery leasing

Fishing
Other community, social
and personal service activities 350 3

Others 6 30 42 22 22 14 5

Grand Total 162 103 3038 201 578 289 884 210 438 2461 333 189 1527 2402 1,567 639 852 182
Source: Ethiopia Investment Agency