Essay about Economic Factors Of The Developing Country Of Ethiopia

907 Words Oct 18th, 2016 4 Pages
This paper explores the economic factors of the developing country of Ethiopia. Ethiopia is a landlocked country and know as the Federal Democratic Republic of Ethiopia. “The legendary Ark of the Covenant, the relic said to hold the 10 Commandments, is claimed to be housed in a church in Ethiopia. Only one man, the guardian, is actually allowed to see the ark, so whether or not it is actually there remains a mystery.” Populated by 102,374,044 citizens, Ethiopia is considered a country of impoverishment due to war, famine, and drought. Ethiopia concentrates the majority of its economic resources on its agricultural production. This causes for there to be a lack of education, health issues, poverty, and undeveloped technology, which can be the result in many developing countries. Gross Domestic Product per capita is 1,800, while the growth rate is at a low rate of 10.2 percent. Most of the population in Ethiopia earn an income that is considered low by farming fields, livestock, or coffee. Because there is limited prosperity within careers the majority of the population lives uncomfortably and in living standards that are inhuman, with all the income going to the necessities. That forces less investing and less capital, which is a main reason to why the economy in Ethiopia is not thriving. In addition, their existing technology is old and unproductive. Therefore, farmers have more children to improve their farming because there is no new machinery available to assist…

Related Documents