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The Ethiopia Commodity Exchange ( ECX) is a commodities exchange established April 2008 in Ethiopia. In Proclamation 2007-550, which created the ECX, its stated objective was "to ensure the development of an efficient modern trading system" that would "protect the rights and benefits of sellers, buyers, intermediaries, and the general public."
Agriculture in Ethiopia is the foundation of the country's economy, accounting for half of gross domestic product (GDP), 83.9% of exports, and 80% of total employment. Ethiopia 's agriculture is plagued by periodic drought, soil degradation [1] caused by overgrazing, deforestation, high levels of taxation and poor infrastructure (making it ...
Mining in Ethiopia. Microcline from the Kenticha mine, Oromia Region, Ethiopia. Mining is important to the economy of Ethiopia as a diversification from agriculture. Currently, mining comprises only 1% of GDP. Gold, gemstones (diamonds and sapphires), and industrial minerals are important commodities for the country's export-oriented growth ...
The 2000s commodities boom or the commodities super cycle [1] was the rise of many physical commodity prices (such as those of food, oil, metals, chemicals and fuels) during the early 21st century (2000–2014), [2] following the Great Commodities Depression of the 1980s and 1990s. The boom was largely due to the rising demand from emerging ...
In one instance, inflation could heavily impact the growth, requiring food demand. From 2005 to 2012, maize grain in Addis Ababa drastically increased from 1,469 to 5,013 ETB per ton, and the price was tripled in the last five years. Overall, the food price inflation was increased from 7.4% to 15.8% between 2014 and 2019 years. Food processing
The economy of Ethiopia is a mixed and transition economy with a large public sector. The government of Ethiopia is in the process of privatizing many of the state-owned businesses and moving toward a market economy. [25] The banking, telecommunication and transportation sectors of the economy are dominated by government-owned companies.
A widespread famine affected Ethiopia from 1983 to 1985. [4] The worst famine to hit the country in a century, [5] it affected 7.75 million people (out of Ethiopia 's 38–40 million) and left approximately 300,000 to 1.2 million dead. 2.5 million people were internally displaced whereas 400,000 refugees left Ethiopia.
The prices of food and livestock rose significantly: one sa'a (a unit equal to four handfuls) of sorghum cost 12 ashrafis, and an equal amount of salt cost 15. A cow cost over 300 ashrafis. [27] As the economy recovered from the famine, the price of a sa'a of sorghum fell to 4–5 mahallak s (a sub-denomination of the ashrafi). [27]