Ethiopia's Economic Growth Soars, Poverty Decreases, But Trade Deficit Rises.
Ethiopia has seen strong economic growth since 2004, driven by factors like modernizing agriculture and increasing exports. The growth rate has been higher than the average for Sub-Saharan Africa, reaching around 10.6 percent. Despite some fluctuations, the economy is expected to stabilize at around seven to eight percent in 2012. This growth has helped reduce poverty in both urban and rural areas. Ethiopia is focusing on increasing exports to support further growth, with efforts to diversify the export base showing positive results. However, there is a significant trade deficit due to increased imports.