Ethiopia earned USD 976 million from exports during the first quarter of the 2022/2023 fiscal year. The achievement was presented by the Ministry of Planning and Development during a review of the performance of the main macro-economic sectors of the country in Gondar.

The agriculture sector earned USD 426 million contributing the biggest share for the total export value earned during the first three months of the fiscal year. However, the income from mining and manufacturing exports showed a slight decrease when compared to the same period in the 2021/2022 fiscal year. Illegal trade is indicated as the major bottleneck for these sectors.

According to the Minister of Ministry of Planning and Development, Fitsum Assefa, the first quarter of the current fiscal year saw a 14% increase in the flow of foreign currency. Goods worth USD 67.2 million were replaced by local products while the service sector brought in USD 1.2 million. Moreover, the income of the Government increased by 8.6% during the quarter. It was able to earn Birr 93.1 billion from tax and non-tax resources.

Source: Fana BC