The ISO code of Ethiopia is ET according to the ISO 3166 standard. The local name of the country is Ityop'iya. Ethiopia capital city is Addis Ababa. People in Ethiopia speak the Amharic language. On 5 May 1941, Ethiopia emerged as a sovereign political entity. In the year 05/05/1941, Ethiopia emerged as a sovereign political entity. The largest city in Ethiopia is Addis Ababa.
Ethiopia is located in the UTC +03:00 time zone, which is also called Eastern Africa Time or EAT. The internet country code top-level domain (ccTLD) for Ethiopia is .et. The International dialing code for Ethiopia is 251. People in Ethiopia drive on the right side of the road. Total land area of Ethiopia is 1,104,300 km² (approx. 426,371 mi²). Ethiopia is a landlocked country.
Ethiopia is located in Africa. Ethiopia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Ethiopia faces various issues, including deforestation, overgrazing, soil erosion, desertification, water shortages in some areas from water-intensive farming and poor management.
Doing business in Ethiopia
We offer various corporate services in Ethiopia jurisdiction. These services can serve both, people coming from Ethiopia and foreigners. If you plan on doing business in Ethiopia you might be interested in contacting us.
To find out about starting your business in Ethiopia click on company formation in Ethiopia.
To find out how to open a bank account in Ethiopia and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Ethiopia.
Choose preferred service below or continue reading to find out more about Ethiopia.
Demographics of Ethiopia
The total population of Ethiopia is 107,534,882 people. In Ethiopia, the population density is 83 people per square kilometer (216 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is rather diverse according to a fractionalization scale which for Ethiopia is 0.7235. Ethiopia has approximately 1072949 foreign immigrants. The median age is approximately 17.6 years. In Ethiopia, 1.48 in every 100 people use internet. Ethiopia has a Human Development Index (HDI) of 0.435.
The majority religion of Ethiopia is Christianity, Ethiopia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Ethiopia.
Culture of Ethiopia
People in Ethiopia speak the Amharic language. According to data on inbound tourists in Ethiopia, 681,000 tourists arrive in the country each year. One of the most popular national dishes of Ethiopia is wat with injera. To read more click on culture of Ethiopia.
Geography of Ethiopia
Ethiopia is considered to be a vast nation because of its total area. Its total land area is 1,104,300 km² (approx. 426,371 mi²). Ethiopia is located in Africa. Its capital city is Addis Ababa. Ethiopia has 6 neighbouring countries. Its neighbours include Djibouti, Eritrea, Kenya, Somalia, South Sudan, and Sudan. Total length of land borders of Ethiopia is 5925 kilometers (~2,288 miles).
The highest point of Ethiopia is Ras Dejen, with its official height being 4550 m (14,929 ft). Including land mass and EEZ, the total area of Ethiopia is approximately 1,104,300 km² (~426,371 mi²). The most notable natural resources found in Ethiopia are gold, platinum, copper, potash, natural gas, hydropower.To read more click on geography of Ethiopia.
Economy of Ethiopia
The currency of the country is Ethiopian birr. The symbol used for this currency is Br, and it is abbreviated as ETB. 5.2% of population in the country are unemployed. The total number of unemployed people in Ethiopia is 5,591,814. Each year, Ethiopia exports around $3.21 billion and imports roughly $10.68 billion. The Gini Index of the country is 33. Ethiopia has a Human Development Index (HDI) of 0.435.The Global Peace Index (GPI) for Ethiopia is 2.234. Ethiopia has a government debt of 60% of the country's Gross Domestic Product (GDP), as assessed in 2014. Ethiopia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are food processing, beverages, textiles, leather, chemicals, metals processing, cement.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Ethiopia is $145,100 billion. Each year, consumers spend around $25,906 million. The ratio of consumer spending to GDP in Ethiopia is 0%, and the ratio of consumer spending to the world consumer market is 0.0747. The corporate tax in Ethiopia is set at 20%. Personal income tax ranges from 7.71% to 61.96%, depending on your specific situation and income level. VAT in Ethiopia is 24%. In 2013, Ethiopia received 3261.3 million USD in foreign aid.In 2014, the foreign aid amounted to 3539.4 USD.To read more click on economy of Ethiopia.
Infrastructure of Ethiopia
Infrastructure quality in Ethiopia is rated to be at 2.17. It indicates a mediocre quality - roads, railroad, ports and other facilities are able to handle somewhat significant traffic, but not enough to ensure smooth transit at all times.
In Ethiopia, 26.6% of the population has access to electricity. There are 179 internet hosts in Ethiopia. Ethiopia has 57 airports nationwide.
The logistics performance index of Ethiopia is 2.59. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.
Tracking possibilities for shipments are rated at 2.67. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.
To read more click on infrastructure of Ethiopia.
Politics of Ethiopia
Ethiopia, is a federal parliamentary assembly. With regard to political and civil freedoms, Ethiopia is 3. Citizens in Ethiopia experience little to no civil liberties and political rights. Citizens are not free to express themselves and do not enjoy political freedom or a representative government. Countries with this political situation are dangerous for investment, as an authoritarian government may have outsize control over economic matters. The head of the government is Mulatu Teshome.
According to the World Bank Group, the government effectiveness index of Ethiopia is -0.47. This indicates that the government of Ethiopia is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Ethiopia before considering any business maneuvers.In Ethiopia, the legislative power is vested in a Federal Parliamentary Assembly. The Global Peace Index (GPI) for Ethiopia is 2.234. The strength of legal rights index for Ethiopia is 3. Overall, it is considered to be rather inadequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient. In 2013, Ethiopia received 3261.3 million USD in foreign aid. In 2014, the foreign aid amounted to 3539.4 USD. Ethiopia is a member of the United Nations (UN). On 13 November 1945, it joined the UN at it inception date as a full member state. Ethiopia is one of the original UN member states who founded the organization. Ethiopia is a member of the African Union (AU). On 25 May 1963, it joined the AU as a full member state. Ethiopia is a member of the World Bank. To read more click on politics of Ethiopia.
Environment of Ethiopia
Ethiopia emits 0.1 metric tons per capita of CO2. 39313 km² of Ethiopia's territory is covered in forests. and forest land comprises 4% of all the land in the country. To read more click on environment of Ethiopia.
Company formation in Ethiopia
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Ethiopia.
When establishing a company in Ethiopia, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Ethiopia that will affect the establishment and growth of one's business. Contact us or click on company formation in Ethiopia to read additional information when setting up a business.
Bank account opening in Ethiopia
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Ethiopia. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Ethiopia, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Ethiopia or contact us.