Ethiopia Secures over $2.6b from Export


Ministry of Trade and industry disclosed that Ethiopia has earned 2.67 billion USD from export trade in the 2011 Ethiopian budget year, which ended on July 7, 2019,

Briefing to journalists, Wondimu Filate, Communication Director at the Ministry indicated that the revenue earned accounted to about 61 percent of the planned 4.32 billion USD for the fiscal year.

Export of oilseeds, and floriculture products, tantalum, pulses achieved over 75 percent of the target where as coffee, tea, fish, textile and garment as well as electric power fell from 50-74 percent, according to the Director. The East African nation began exporting electric power to Djibouti and Sudan in 2011 and 2012 respectively.

The Director attributed the shortfall to contraband, lack of energy, quality of products as well as fluctuation of prices on the international market.  

With a view to enhancing the export trade, the Ministry will take measures such as financing for export-oriented industries, expanding infrastructures, supporting integrated agro-industrial parks, among others, according to the communication director.  

USA, Somalia, Netherlands, Saudi Arabia, China, UAE, Djibouti, Germany, Japan and Israel are the top 10 importers of the Ethiopian products. The nation plans to earn 4.7 billion USD from the export this Ethiopian fiscal year, it was learned.