Knowledge Base
GDP Indicators
Gross Domestic Product (GDP) measures the monetary value of all finished goods and services produced within a country's borders in a specific time period.
GDP
Description
The total monetary value of all finished goods and services produced within Ethiopia's borders in a given time period.
Calculation Method
Sum of private consumption, gross investment, government spending, and net exports.Importance
Primary indicator of economic health and growth rate.
Update Frequency
Quarterly
Unit of Measurement
USD Billion
GDP Growth Annual
Description
The annual rate of growth in GDP, showing how much the economy has grown over the past year.
Calculation Method
((Current GDP - Previous GDP) / Previous GDP) × 100Importance
Indicates the pace of economic expansion or contraction.
Update Frequency
Annual
Unit of Measurement
%
GDP From Agriculture
Description
The portion of GDP contributed by the agricultural sector.
Calculation Method
Sum of all agricultural production valueImportance
Critical for Ethiopia as agriculture is a major economic sector.
Update Frequency
Quarterly
Unit of Measurement
USD Billion
GDP From Manufacturing
Description
The contribution of the manufacturing sector to total GDP.
Calculation Method
Sum of all manufacturing production valueImportance
Indicates industrial development and economic diversification.
Update Frequency
Quarterly
Unit of Measurement
ETB Billion
GDP Per Capita
Description
Average GDP per person in the population.
Calculation Method
Total GDP / Total PopulationImportance
Measures standard of living and economic output per person.
Update Frequency
Annual
Unit of Measurement
USD
Monetary Indicators
Monetary indicators track money supply, interest rates, and other financial metrics that influence the economy.
Interest Rate
Description
The central bank's key policy rate that influences borrowing costs throughout the economy.
Calculation Method
Set by National Bank of EthiopiaImportance
Affects borrowing costs, inflation, and economic activity.
Update Frequency
Updated as needed
Unit of Measurement
%
Money Supply M0
Description
The most liquid measure of the money supply, including physical currency and central bank reserves.
Calculation Method
Sum of currency in circulation and bank reservesImportance
Indicates monetary policy stance and liquidity conditions.
Update Frequency
Monthly
Unit of Measurement
USD Billion
Inflation & Prices
Measures of how prices change over time in the economy.
Inflation Rate
Description
The rate at which the general level of prices for goods and services is rising.
Calculation Method
Percentage change in Consumer Price IndexImportance
Key indicator of price stability and purchasing power.
Update Frequency
Monthly
Unit of Measurement
%
Food Inflation
Description
The rate of price changes specifically for food items.
Calculation Method
Percentage change in food component of CPIImportance
Critical for Ethiopia due to high household spending on food.
Update Frequency
Monthly
Unit of Measurement
%
Consumer Price Index
Description
Measures changes in the price level of a weighted average market basket of consumer goods and services.
Calculation Method
Weighted average of prices for a basket of goodsImportance
Used to measure inflation and cost of living changes.
Update Frequency
Monthly
Unit of Measurement
Index Points
Trade & External Sector
Indicators related to international trade and external economic relations.
Balance of Trade
Description
The difference between the value of exports and imports.
Calculation Method
Exports - ImportsImportance
Indicates trade competitiveness and external balance.
Update Frequency
Monthly
Unit of Measurement
USD Million
Exports
Description
The total value of goods and services sold to other countries.
Calculation Method
Sum of all export valuesImportance
Source of foreign exchange and economic growth.
Update Frequency
Monthly
Unit of Measurement
USD Million
Imports
Description
The total value of goods and services bought from other countries.
Calculation Method
Sum of all import valuesImportance
Indicates domestic demand and external dependency.
Update Frequency
Monthly
Unit of Measurement
USD Million
Labor Market
Indicators related to employment, wages, and labor market conditions.
Unemployment Rate
Description
The percentage of the labor force that is actively seeking but unable to find employment.
Calculation Method
(Number of Unemployed / Labor Force) × 100Importance
Key indicator of labor market health.
Update Frequency
Quarterly
Unit of Measurement
%
Youth Unemployment
Description
Unemployment rate specifically for people aged 15-24.
Calculation Method
(Unemployed Youth / Youth Labor Force) × 100Importance
Indicates opportunities for young people.
Update Frequency
Quarterly
Unit of Measurement
%
Treasury Bills
Treasury Bills (T-bills) are short-term debt instruments issued by the National Bank of Ethiopia (NBE) to finance government spending and manage monetary policy. They are zero-coupon instruments sold at a discount and redeemed at face value which means that the buyer pays less than the face value and receives the face value at maturity.
Cut-off Yield
Description
The lowest accepted yield in a competitive auction. Bids with yields above this rate are rejected.
Calculation Method
Determined by NBE based on the auction results and monetary policy objectivesImportance
Indicates the maximum cost of borrowing the government is willing to accept
Update Frequency
Every auction
Unit of Measurement
%
Weighted Average Yield
Description
The average yield of all accepted bids, weighted by the amount of each bid.
Calculation Method
∑(Accepted Bid Amount × Bid Yield) / Total Accepted AmountImportance
Represents the actual cost of borrowing for the government
Update Frequency
Every auction
Unit of Measurement
%
Subscription Ratio
Description
Measures the demand for T-bills relative to the amount offered.
Calculation Method
Total Bids Received / Amount OfferedImportance
Indicates market demand and liquidity. Ratio > 1 means oversubscribed, < 1 means undersubscribed
Update Frequency
Every auction
Unit of Measurement
Ratio (x)
Acceptance Rate
Description
The percentage of total bids that were accepted in the auction.
Calculation Method
(Total Amount Accepted / Total Bids Received) × 100Importance
Shows how selective the auction was and the quality of bids
Update Frequency
Every auction
Unit of Measurement
%
Amount Offered
Description
The total face value of T-bills available for purchase in an auction.
Calculation Method
Sum of all T-bills offered across different maturitiesImportance
Indicates government borrowing needs and monetary policy stance
Update Frequency
Every auction
Unit of Measurement
ETB Millions
Competitive vs Non-competitive Bids
Description
Breakdown of bids between competitive (yield specified) and non-competitive (accept weighted average yield).
Calculation Method
Competitive: Sum of bids with specified yield
Non-competitive: Sum of bids accepting weighted averageImportance
Shows market sophistication and bidding strategies
Update Frequency
Every auction
Unit of Measurement
ETB Millions
Maturity Profile
Description
Distribution of T-bills across different maturity periods (28, 91, 182, 364 days).
Calculation Method
Groups outstanding T-bills by maturity periodImportance
Shows government debt structure and investor preferences
Update Frequency
Real-time
Unit of Measurement
Days to maturity
Settlement Date
Description
The date when successful bidders must pay for their allocated T-bills.
Calculation Method
Usually T+1 or T+2 after auction dateImportance
Critical for cash flow planning and settlement procedures
Update Frequency
Every auction
Unit of Measurement
Date
Open Market Operations
Open Market Operations (OMO) are monetary policy tools used by the National Bank of Ethiopia (NBE) to regulate liquidity in the financial system. Through OMO, the NBE buys or sells government securities in the open market to influence short-term interest rates and the money supply.
Total Bids Submitted
Description
The total amount of bids submitted by financial institutions in OMO auctions.
Calculation Method
Sum of all bid amounts across all auction participantsImportance
Indicates market demand and liquidity needs of financial institutions
Update Frequency
Every auction
Unit of Measurement
ETB Billions
Average Interest Rate
Description
The weighted average interest rate across all OMO auctions.
Calculation Method
∑(Auction Volume × Interest Rate) / Total Auction VolumeImportance
Reflects the cost of liquidity and monetary policy stance
Update Frequency
Every auction
Unit of Measurement
%
Total Bidders
Description
The number of financial institutions participating in OMO auctions.
Calculation Method
Count of unique bidders across all auctionsImportance
Indicates market participation and competition levels
Update Frequency
Every auction
Unit of Measurement
Number
Oversubscription Ratio
Description
Measures the demand for OMO instruments relative to the amount offered.
Calculation Method
Total Bids Submitted / Amount OfferedImportance
Shows market liquidity conditions and demand pressure
Update Frequency
Every auction
Unit of Measurement
Ratio (x)
Settlement Amount
Description
The actual amount settled in OMO transactions.
Calculation Method
Total amount accepted and settled by NBEImportance
Shows actual liquidity impact on the banking system
Update Frequency
Every auction
Unit of Measurement
ETB Billions
Maturity Schedule
Description
Timeline of when OMO instruments mature and funds are returned.
Calculation Method
Based on auction terms and maturity datesImportance
Critical for liquidity planning and monetary policy timing
Update Frequency
Every auction
Unit of Measurement
Date
Interbank Money Market
The Interbank Money Market is a short-term lending and borrowing platform between banks, primarily used for managing liquidity. It facilitates temporary funding needs and excess liquidity management among financial institutions.
Total Trade Volume
Description
The total amount of money traded in interbank lending and borrowing transactions.
Calculation Method
Sum of all interbank transaction volumesImportance
Indicates overall market activity and liquidity flow between banks
Update Frequency
Weekly
Unit of Measurement
ETB Billions
Total Trades Executed
Description
The number of individual interbank transactions completed.
Calculation Method
Count of all interbank tradesImportance
Shows market activity level and transaction frequency
Update Frequency
Weekly
Unit of Measurement
Number
Average Interest Rate
Description
The weighted average interest rate across all interbank transactions.
Calculation Method
∑(Trade Volume × Interest Rate) / Total Trade VolumeImportance
Reflects the cost of interbank borrowing and market conditions
Update Frequency
Weekly
Unit of Measurement
%
Biggest Rate Change
Description
The largest weekly change in interbank interest rates.
Calculation Method
Current Week Rate - Previous Week RateImportance
Indicates market volatility and rate momentum
Update Frequency
Weekly
Unit of Measurement
%
Maturity Distribution
Description
Breakdown of trades by maturity period (overnight, 7-day, etc.).
Calculation Method
Group trades by maturity period and calculate volume distributionImportance
Shows liquidity preferences and funding patterns
Update Frequency
Weekly
Unit of Measurement
Days
Participating Banks
Description
The number of banks actively participating in interbank trading.
Calculation Method
Count of unique banks in interbank transactionsImportance
Shows market breadth and participation levels
Update Frequency
Weekly
Unit of Measurement
Number