Ethiopia secured U.S $ 3.3 Billion from export in the just ended fiscal year, which is a 5.8 percent increase when compared to the nation’s performance during the year preceding it. This is partly attributable to the increase in oilseed revenue, which is the nation’s second highest export earning item.

During the fiscal year, the country managed to collect a total of U.S $ 642.7 Million mainly from sesame and niger seeds. This figure shows a 46 percent increased when compared to the year before the just ended fiscal year.

During the period Ethiopia, Africa’s biggest coffee producer, showed a 3.7 percent decline in its coffee export and a 4.1 percent decline in the volume it produced. It earned a total of U.S $ 718.8 Million from the export of coffee.

Ethiopia has an ambition to earn U.S $ 6.6 Billion from farming exports and U.S $ 1 Billion from textile and garment by mid-2015. In order to achieve this, the government is striving to attract investment into processing agricultural products and diversifying the nation’s economy.

The nation’s textile and clothing sales has jumped to U.S $ 111 Million which is a 13 percent improvement. Shoe sales has also made climb by 57 percent and earned the country U.S $ 28.8 Million.

Nonetheless, the value of gold declined 21 percent to U.S $ 456.2 Million. Sale of the leafy narcotic khat rose 9.5 percent to U.S $ 297.4 Million and shipments of flowers jumped 7 percent to U.S $ 199.7 Million.

Source: Bloomberg