Ethiopia Earns $2.4 Billion from Exports

Ethiopia earned more than 2.4 billion US dollars from the export sector in the last three quarters said the Ministry of Trade.

The revenue earned from foreign trade in the last nine months exceeds that of the same time last year by more than 352 million US dollars said Amakele Yemam, Head of the Corporate Communication Affairs office of the Ministry.

Increase has particularly been seen in the export of gold, horticulture, livestock, textiles and minerals he said.

The most significant destinations for Ethiopian exports have been Belgium, Britain, China, Djibouti, Egypt, France, Germany, Japan, India, Israel, Saudi Arabia, Somali, Sudan Switzerland and the US.

In related news Ethiopian customs and Revenue Authority, Adama Branch reported collecting more than 7.4 billion birr in revenue from various exports in just the last 10 months. The revenue earned is greater than that of the same period last year by more than 1 billion birr said Yadessa Mideksa, Office Manager with the revenue bureau.

The authority has provided more than 2 billion birr in tax exemption for flower exporters and on imported items during the same period he noted.

The revenue office has been able to meet 90% of its target revenue so far according to Yadessa.

Customs and Revenue has recovered more than 20 million birr it had been defrauded of by tax evasion while being able to orient businesses in Adama and the environs on proper tax reporting noted Mihertab Gebremedhin, Legal Services Process Owner with the office.

Source: Ethiopian News Agency

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