Want to Start Business in Ethiopia, East Africa. Here are few Good Profitable Ideas for You.

Description:

Ethiopia is one of the Africa’s fastest growing economies. The country’s growth originates from manufacturing, construction and agriculture-related industries. Although periodic drought and massive soil degradation have previously plagued the country’s agriculture, the sector remains the backbone of the country’s economy. Agriculture still accounts for up to 80% of total labor force, 84% of exports and 46.3% of gross domestic product (GDP). Additionally, other numerous economic activities rely on agriculture, including processing, marketing and export of agricultural commodities.

Ethiopia has a large variety of indigenous plant and animal species. In some areas, the mountains are covered with shrubs such as pyracantha, jasmine, poinsettia, and a varied assortment of evergreens. Caraway, carcade, cardamom, chat, coriander, incense, myrrh, and red pepper are common.

Ethiopia's agriculture is plagued by periodic drought, soil degradation caused by overgrazing, deforestation, high levels of taxation and poor infrastructure (making it difficult and expensive to get goods to market). Yet agriculture is the country's most promising resource. A potential exists for self-sufficiency in grains and for export development in livestock, grains, vegetables, and fruits. As many as 4.6 million people need food assistance annually.

Ethiopia has huge agricultural potential owing to the country’s diverse climate, largely adequate rainfall, its vast fertile lands and a large pool of affordable labor. Unsparingly, the Exports are almost entirely agricultural commodities, with coffee being the largest foreign exchange earner. The country is also Africa’s third largest producer of maize. Agriculture remains one of Ethiopia’s most important and promising sector. However, the production has remained subsistence with the bulk of commodity exports coming from the smallholder agricultural farmers. The major crops include coffee, cereals, pulses, oilseeds, potatoes, sugarcane, and vegetables. These crops come from farmers holding an average of 1.2 hectares of land, 55 percent of whom holding less than one (1) hectare.

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