2merkato

Ethiopia secured over USD 196 million from the export of 42,322 tons of coffee in just one month, setting a new record for foreign currency earnings, according to the Ethiopian Coffee and Tea Authority.

Ethiopia secured USD 140 million from energy exports in the recently concluded Ethiopian fiscal year, marking a 16 percent increase from the previous year. A 17 percent increase was registered in domestic energy demand compared to last year.

Ethiopia has shown progress in its import substitution strategy, producing goods worth USD 2.7 billion in the first eight months of the current fiscal year, according to the Ministry of Industry.

Ethiopia has entered into loan agreements adding up to more than 1 billion US dollars in the last few months according to Hailemariam Desalegn Foreign Minister and Deputy Prime Minister of Ethiopia.

The loan agreements Ethiopia signed include arrangements with China for 612 million US dollars, with the United States for 52 million US dollars, with Saudi Arabia for 25 million US dollars, with the World Bank for 210 million US dollars and 1.4 million US dollars from the Czech Republic.

The Ethiopian government is planning to upgrade the Ethio-Djibouti Railway, aiming to improve transport efficiency, strengthen trade logistics, and manage the significant infrastructure debt accumulated during its construction.