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Country overview

Key facts

GDP: $118.2 billion (2013 estimate)
GDP growth: 7% (2013 estimate)
Population: 96.6 million (2014 estimate)
Major industries: agriculture, manufacturing, textiles, leather, chemicals, metals processing, cement
Exports: coffee, khat, gold, leather products, live animals, oilseeds
Natural Resources:  gold, platinum, copper, potash, natural gas, hydropower
Major trading partners: Switzerland, Germany, China, Somalia, Netherlands, United Arab Emirates
Government: federal republic, democratically elected government
Political stability: Ethiopia is Africa’s oldest independent country and enjoys political stability with a growing economy. The current government supports economic regeneration and encourages foreign investment.

Mineral regime

Ethiopia’s primary mineral export is gold, with the state-owned Ethiopian Mineral Resources Development Corporation (EMRDC) managing the development and production of mineral resources. The Ethiopian government retains title to all land and mining operations, subject to national and governmental approval. The government has the right to acquire a 2% interest in mining ventures as well as a 35% income tax levy on all mining operations. Mining royalties include 8% on precious metals and 5% on other minerals.