The first 5 months of the current fiscal year saw Ethiopia earning 1 billion USD from its export sector. This was only 60 percent of the target the government put at the beginning of the current fiscal year.

Ministry of Trade commenting on the matter noted it will increase foreign trade earnings over the rest of the fiscal year by increasing volume and quantities of export items. 

From the entire 5 months period, the leading export commodity is packed spices, eucalyptus and roasted coffee. On the other hand the following commodities showed the lowest performance; chemical construction materials, molasses, tantalum, spices, gum, canned fruits, gold, honey, and live animals. 

Ethiopia’s export sector has been on the decline lately. The nation earned 2.8 billion USD in 2015/2016 from export of different commodities. Such was 7 percent lower than the preceding fiscal year’s performance. 

In the past 2 years, exporters in Ethiopia had been complaining about the lack of foreign exchange as the major reason for the decline in foreign trade.

Source: Fortune