Ethiopia under Zenawi bottom at UN Trade and Dev’t Index
ADDIS ABEBA(November 15,2007) – From all economic endeavors underway in the country, Ethiopia could be said on the right track for growth and development, but the country is not performing well in its trade and development, according to UNCTAD’s new edition of Trade and Development Index (TDI). (more…)
ADDIS ABEBA(November 15,2007) – From all economic endeavors underway in the country, Ethiopia could be said on the right track for growth and development, but the country is not performing well in its trade and development, according to UNCTAD’s new edition of Trade and Development Index (TDI).
In fact, Ethiopia is rated as one of the poorest performing countries in trade and development, way behind many of the countries in the Sub-Sahara who have registered significant economic achievements.
The index puts Ethiopia on the 114, three steps down from its 111th rank in 2005.
The TDI shows there have been improvements in the country’s economy in 2006 compared to 2006 where it scored 379 points from 373 in 2005.
But that meant insignificant compared to other countries in the Table.
The new UNCTAD report was launched on Tuesday at the UNCC.
Ethiopia’s poor economic performance came as a surprise to many at the press conference after a lot has been said of the country doing well in its efforts towards eradicating poverty and ensuring sustainable development.
Several African economies are now showing signs of the positive growth needed to end decades of poverty, poor growth and stagnation in the continent, according to a recent World Bank report released on Wednsday.
The UNCTAD report appears to paint a gloomy picture on the country’s prospect of achieving the UN-set Millennium Development Goals (MDGs).
The TDI is very much reflective of whether or not a country is doing well in its economic performances and, its chance of reducing poverty and meeting the MDGs.
“The TDI is a benchmark, a measure to the degree of integration between trade, economic and social development,” said Sudip Ranjan Bassu, one of the co-authors of the report at the press conference.
The country’s ability to enhance the growth would be critical in its bid to meet the MDGs on poverty and sustainable growth.
The US, Germany, and Denmark are the top ranking countries ranking 1st to 3rd respectively from the western world, while South Africa, Mauritius, Tunisia, Madagascar and Uganda are the top ranking African countries in the index.
Rajan Bassu pointed out that Ethiopia is among the laggards even in the eastern African countries which include Uganda, Kenya, Rwanda, Malawi, Brundi and Zambia which stood from first to the seventh ranks, Ethiopia being the eighth.
Poor results in the index means that Policy makers Ethiopia and other countries which are not performing very well need to employ other measures such as macroeconomic and financial management, as well as trade support and industrial policies, Rajan Bassu said reiterating UNCTAD Secretary-General Dr Supachi’s words at the Geneva launch of the index.
“Only then will they close the gap with more advanced economies,” Rajan Basau stressed.
The TDI was launched in Geneva on the 6th of November 2007 and shows how countries performed in trade and development in 2006.