Ethiopia Secures $2.8 Bn from Exports in 10 Months

ministry-of-trade-and-industryEthiopia has secured $2.8 billion from exports alone in the past ten months of the fiscal year that started in July 2020, the Ministry of Trade and Industry (MoTI). This has shown an increase of 16 percent compared to $2.42 billion of the same period last year. 

The amount obtained so far is 85 percent of what is planned for the whole fiscal year, MoTI pointed out.

Mining, agriculture and industry have contributed for the $2.8 billion obtained, MoTI said. 96 percent of what has been planned to obtain from mining has been achieved, the ministry explained, while agriculture and industry attained 86 and 70 percent of the target set for the sectors, respectively. Leather and metal exports have suffered, while exports of oilseeds, khat and grain seeds have fared better.

MoTI mentioned strong linkage with regional states, trading on Ethiopia Commodity Exchange, working with agricultural investors to timely export agricultural products and removing the barriers of trade as factors that contributed positively to the achievement. 

Ethiopia exports its products to up to 140 countries across the globe.

Source: The Ethiopian Herald


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