GDP Rebasing to Lay Foundation for Ethiopia’s Long-Term Dev’t Ambitions: Minister

Addis Ababa, November 4, 2026 (ENA)— Ethiopia’s newly completed Gross Domestic Product (GDP) rebasing will provide a stronger foundation for the country’s long-term development ambitions, particularly its vision of building a prosperous nation, Minister of National Strategy Bereket Fesehatsion said.

Ethiopia today unveiled its updated GDP figures as part of efforts to modernize economic measurement and reflect structural changes in the economy.

With the 2017 Ethiopian fiscal year (2024/25) as the new base year, the country’s GDP reached 24.03 trillion Birr (201.42 billion USD).

The figure further rose to 31.86 trillion Birr (210.7 billion USD) in the 2018 Ethiopian fiscal year (2025/26).

 

Speaking at the launch of the updated GDP rebasing results, Minister Bereket said the revised measurement system provides a more accurate picture of the country's economic structure by incorporating emerging economic activities and previously underrepresented sectors.

He noted that the updated economic structure underscores the importance of moving beyond quantitative growth toward building a productive economy.

He pointed out that the new GDP rebasing would help generate employment, strengthen domestic production capacity, and reduce excessive dependence on primary commodities.

The minister further emphasized that reliable economic statistics are essential for improving policy formulation, budget allocation, investment decisions, and economic planning, while strengthening the confidence of domestic and international investors.

He said the revised GDP framework would provide a more accurate benchmark for assessing national economic objectives, including foreign trade, revenue generation, investment, and employment creation.

 

The 2017 Ethiopian fiscal year, corresponding to 2024/25 in the Gregorian calendar, was selected as the new base year for the exercise, taking into account its relative macroeconomic stability, declining inflation, and the availability of comprehensive statistical data.

The process incorporated findings from the agricultural census, the economic establishments census, and household surveys, among other sources, enabling the country to update its national accounts in line with contemporary economic realities.

The minister stated that the exercise was conducted under the leadership of Ethiopian professionals, with technical assistance from the International Monetary Fund (IMF), to ensure alignment with the 2008 System of National Accounts and other international standards.

He also highlighted the government's efforts to strengthen national statistical capacity by recruiting and training young graduates to work alongside experienced professionals, ensuring the transfer of technical knowledge and the sustainability of the process.

 

The government will institutionalize GDP rebasing every five years to maintain the reliability and relevance of national economic statistics, it was indicated.

The minister said the updated measurement system would serve as a new foundation for Ethiopia's long-term development ambitions, particularly its vision of building a prosperous country by 2050 through strengthened domestic capacity and improved living standards for citizens.