Ethiopia remains one of Africa’s largest and fastest-growing economies, with GDP expanding by around 6–7% in 2024 as the country recovers from recent economic and political shocks.
Despite challenges, Ethiopia's path to economic normalization offers potential for long-term engagement and growth in a market not yet integrated into the WTO framework. Agriculture continues to be the backbone of the economy - employing over 60% of the population and contributing roughly a third of GDP - while large-scale infrastructure projects, many supported by international partners, continue to drive development. The government is implementing gradual reforms aimed at liberalising key sectors, strengthening the private sector and opening selected areas to foreign investment.
For Swiss exporters, opportunities exist in health and pharmaceuticals, food processing, agritech, digital services and tourism. Ethiopia has expressed interest in deeper cooperation with Switzerland in health, education and technology, and a large, youthful population fuels growing demand for quality products and services. However, companies must also navigate persistent challenges such as high double-digit inflation, a tightly managed foreign-exchange regime and occasional bureaucratic hurdles. Strong preparation, careful risk management and trusted local partners are essential for long-term success.
No
Free Trade Agreement
There is a free trade agreement between Switzerland and this country. Source: State Secretariat for Economic Affairs SECO
0.09 0.09 billion
Total trade flows
Total goods traded with Switzerland (imports + exports). Source: UN Comtrade. Data as of 2023.
21.13 21.13 %
3-year GDP growth
Total real GDP growth over the last three years. Source: World Bank. Data as of 2023.
Navigating Ethiopia’s evolving economy requires patience and strong local alignment - but with the right partnerships, Swiss companies can access one of Africa’s most dynamic and opportunity-rich markets.
Mehmet Yildirimli
Senior Consultant Africa, Türkiye + IsraelLatest insights
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Event calendar
Stay connected with the latest developments in the industry by participating in our upcoming events. From conferences and workshops to webinars and fact-finding missions.
02-05
Nov
Swiss Business Delegation to Ethiopia: validate opportunities and build contacts
Switzerland Global Enterprise (S-GE), together with Embassy of Switzerland in Ethiopia, invites Swiss companies to join a 3-day fact-finding mission to Ethiopia - a practical next step for companies looking to explore opportunities in different emerging sectors Infrastructure, ICT & Digital Economy, Life Sciences & Healthcare, Finance and Machinery & Industrial Equipment and understand Ethiopia’s role as a regional hub in the Greater Horn of Africa.
Addis Abeba (tbd), Ethiopia
FAQs
What is the current economic situation?
Ethiopia’s economy is in a recovery phase, with real GDP growth estimated at 6–7% in 2024 and similar momentum expected for 2025. International financial support packages from institutions such as the IMF and the World Bank are helping stabilise public finances and continue reform efforts. Inflation remains high - still in the double-digit range - and the Ethiopian birr continues to face depreciation pressures. Exporters should factor in inflation and exchange-rate risks when planning market entry and pricing.
What are the main export and import trends?
Agricultural products - especially coffee, which generated more than USD 2.6 billion in 2024/25 - remain Ethiopia’s strongest export performers, followed by gold and horticultural goods. Imports continue to be dominated by machinery, industrial goods, fuel and manufactured products, with China remaining Ethiopia’s largest trading partner. Opportunities for Swiss exporters lie in machinery, processing equipment, pharmaceuticals and specialised services that support Ethiopia’s industrialisation targets.
What opportunities exist for Swiss companies?
Swiss companies have promising opportunities in healthcare, pharmaceuticals, food processing, vocational training, agritech, engineering services and selected digital solutions. Ethiopia has expressed interest in expanding cooperation with Switzerland in health and education, while ongoing reforms and privatisation efforts are improving long-term prospects for foreign investment. Demand for high-quality equipment and expertise is rising as Ethiopia works to diversify its economy and strengthen its industrial base.
Which sectors are most promising?
Key sectors include health and pharmaceuticals, where demand for quality products is expanding; tourism and hospitality, supported by a growing services sector; agriculture and agritech, given the sector’s large economic footprint; and vocational training, where Switzerland’s dual-education model is highly relevant. Ethiopia’s services sector - representing around 40% of GDP - continues to expand, creating opportunities for Swiss firms in technology, consulting and capacity building.
What are the main challenges and risks?
Swiss exporters face challenges such as limited access to foreign currency under Ethiopia’s state-managed exchange system, high inflation, regulatory complexity and political uncertainties. Climate-related risks, such as droughts affecting agriculture, can also impact business conditions. To mitigate these risks, exporters should build strong local partnerships, plan for longer timelines and ensure flexibility in contracts and financial arrangements.
