Oil Production and Oil Consumption
Oil Production: 0.1
Oil Consumption: 47.00
The oil production of 0.1 implies that the soil and dirt is not a stable place for oil to naturally be at. With such little production of oil and a relatively high consumption, Ethiopia has to make its own allies. No one wants to borrow their oil because they simply don't have enough for other countries to borrow, but Ethiopia needs to "make friends" so that they can borrow the oil that they need.
1. What does Ethiopia use their oil for?
2. Where is the 0.1 production located at in Ethiopia?
Oil Consumption: 47.00
The oil production of 0.1 implies that the soil and dirt is not a stable place for oil to naturally be at. With such little production of oil and a relatively high consumption, Ethiopia has to make its own allies. No one wants to borrow their oil because they simply don't have enough for other countries to borrow, but Ethiopia needs to "make friends" so that they can borrow the oil that they need.
1. What does Ethiopia use their oil for?
2. Where is the 0.1 production located at in Ethiopia?
Globalization in Ethiopia
Ethiopia's economy has been affected by globalization four different ways: livestock production, wildlife management, cut-flower production, and coffee production. With this, the people of Ethiopia are adapting to the economic changes the country is experiencing. For example, Ethiopia's cut-flower industry is largely dependent on foreign investment, which brings much needed capital, technology, employment and educational opportunities to the country. This part of the economic system has helped Ethiopia grow due to globalization. Without globalization, Ethiopia would not have been technologically advanced, job opportunities, educational opportunities, and economically stable as they are right now.