Sinopia News Top

Ethiopian Industrial Exports on the Increase

The revenue Ethiopia earned from the export of industrial products increased significantly in the last three years according to the Ministry of Trade.

The revenue earned from the export of industrial products in the last financial year was 22.8 higher (255.45 million US dollars) than what had been earned in the previous fiscal period (207.92 million US dollars) according to Melaku Taye, Director of Corporate Communication Directorate with the MoT.

Industrial exports had shown an increase of more than 75% in the previous two financial periods said Melaku.

The industrial products that are primary exports are garments, textiles, agro-processed goods, leather and leather products as well as chemical and pharmaceutical products he noted.

It is to be remembered that Ethiopia has earned 475.3 Million US dollars from exports in just the last two months according to the Ministry of Trade. The performance in the last two months has shown a notable improvement over the 300.8 million US dollars earned in the same period in the last financial year said Abdurahman Seid Deputy Director of the Public Relations and Communication Directorate of the ministry.

The revenue earned, however was still lower than the MOT’s projections for the period which was 776.1 million US dollars. The current revenue is only 61.2% of the projected income.

Source: Walta info

Soramba News SB P4