Ethiopia has generated over USD 1 billion from gold exports in the past five months, a record-breaking achievement, according to the Ministry of Trade and Regional Integration.

Speaking at the third National Anti-Illicit Trade Summit in Addis Ababa, Minister Kassahun Gofe outlined the government’s recent strides in combating illicit trade. Collaborative efforts with regional states and trade bodies have been central to these achievements, the Minister emphasized.

The reforms, implemented since July 2024, have reduced the inflation rate for food items to 19.2% from a previous high of 29.2%. Enhanced regulatory measures have also tackled illicit activities in the export sector, with gold exports climbing sharply compared to last year’s USD 300 million revenue.

Livestock exports have similarly surged, bringing in USD 20 million over the past five months - surpassing the USD 18 million earned during the entirety of the previous fiscal year.

In addition to boosting exports, authorities seized contraband goods valued at Birr 15.5 billion during the 2023/24 Ethiopian fiscal year.

Source: Fana BC