Report by Central Statistics Agency (CSA) disclosed agricultural raw material import of Ethiopia shows an increase of 67 percent. The report also showed 90 percent of pharmaceutical products in the market are imported.

According to Fortune, the export revenue from these industries have declined by 25 percent from the previous quarter’s performance. The reasons for the poor performance in the industries are said to be local companies’ failure to utilize advanced technology machinery, low production capacity and a dearth of technology skilled manpower. Other than these incapability and unwillingness to compete in the international market arena are attributable for the industries’ let down.

The findings of the report were disclosed to the public at a press conference held by Food, Beverage & Pharmaceutical Industry Development Institute (FBPIDI).

According to the Institute, beverage companies such as Meta Abo Brewery, Guder Wine and Dashen Brewery are now exporting their products even if they were previously said to be comfortable in the domestic market.

Source: Fortune