Construction Sector Boosts Ethiopia’s GDP to 21%

Adewole Kehinde
3 Min Read
Construction Sector Boosts Ethiopia's GDP to 21%

Deputy Prime Minister Temesgen Tiruneh has announced that Ethiopia’s construction industry has achieved a significant milestone, now contributing 21% to the country’s Gross Domestic Product (GDP).

The announcement was made during the opening of the much-anticipated Big 5 Construct Ethiopia 2024 Expo in Addis Ababa, as reported by the Ethiopian News Agency (ENA).

Prominent Attendees Highlight Industry Growth

The event, themed “Construct Ethiopia,” was attended by notable figures including Speaker of the House of People’s Representatives Tagesse Chaffo, Addis Ababa Mayor Adanech Abebe, Minister of Urban Affairs and Infrastructure Chaltu Sani, and other key industry stakeholders. The expo underscored the impressive growth of Ethiopia’s construction sector.

Deputy Prime Minister’s Address

Deputy Prime Minister Temesgen emphasized that the construction industry is projected to grow at an annual rate of over 8%, significantly contributing to the country’s prosperity. He highlighted the sector’s crucial role in infrastructure development and job creation, noting that Ethiopia is capable of supplying 80% of construction materials domestically.

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Call for Coordination and Development

Minister of Urban Affairs and Infrastructure Chaltu Sani stressed the importance of coordination among various stakeholders to ensure the sustained development of the construction industry, a key driver of Ethiopia’s economic transformation.

Big 5 Construct Ethiopia 2024 Expo

The Big 5 Construct Ethiopia 2024 exhibition, organized by the Ministry of Urban Development and Infrastructure and the Ethiopian Construction Works Corporation, aims to provide a platform for local and international construction companies to showcase their products, services, and innovative solutions.

READ ALSO: Ethiopia’s Prime Minister Announces Plans to Allow Foreign Ownership of Real Estate

The three-day event is expected to attract over 9,000 industry professionals and feature more than 150 exhibitors from 30 countries, including Ethiopia, Germany, Italy, Turkey, China, India, Saudi Arabia, the United Arab Emirates, Algeria, Oman, and Qatar.

Opportunities for Knowledge Exchange and Networking

In addition to the exhibition, the event will host several professional panels and discussions on engineering, project management, technology, infrastructure, and architecture, offering valuable opportunities for knowledge exchange and networking within the industry.

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