Ethiopia Collects $2.63 Bn from Exports in 2018/19

Ethiopian Ministry of Trade and Industry announced that Ethiopia earned some $2.67 billion from export in the recently concluded fiscal year of 2018/9.

Wondimu Filate, Communication Director at the Ministry, said the said amount accounts for 61 percent of the planned earning of $4.32 billion for the period. Mr. Wondimu said the shortfall is due to contraband, price fluctuation in the global market, lack of energy and quality of products, and instability in some parts of the country.

The export of tantalum, pulses, oilseeds, and floriculture attained 75 percent of the target of their fields; while coffee, fish, electric power, textile and garment, vegetables and fruits, and tea came at 50 to 74 percent of their targets for the year. Meat, milk and milk products, spices, leather and leather products, food and beverages, honey, pharmaceuticals, minerals, live animals, chemical and construction inputs suffered the most, having attained under 50 percent of their target export amounts.

USA, Somalia, Netherlands, Saudi Arabia, China, UAE, Djibouti, Germany, Japan, and Israel have been identified as the top ten importers of Ethiopian products.

Improving the marketing system, supporting industrial parks to become operational, expanding infrastructures, controlling contraband, financing and logistics supply for export-oriented industries, among others, are measures set to be taken, the Ministry's communication director pointed out.

In the newly started fiscal year, Ethiopia hopes to earn $4.69 billion from exports.

Source: ENA


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