2merkato

Ethiopia has earned more than 500 million US dollars in revenues from the mining sector in the first three quarters of the financial year according to the Ministry of Mines.

108 million US dollars of the revenue earned was received from the larger companies involved in the sector explained Sinknesh Ejigu, Minster for Mines, speaking at a review meeting of mining stakeholders.

There are 257 licensed mining projects currently engaged in exploration and 137 active in production she said.

The Ethiopian Horticulture Development Agency announced that Ethiopia has earned 55 million US dollars in horticultural exports in the first quarter of this fiscal year.  

The revenue was raised from the export of fruits and vegetables as well as flowers and other produce explained the press statement from the agency.

Ethiopia earned more than 60 million US dollars from the export of oil seeds last month according to Kebede Chane, Minister of Trade.

The revenue was earned from the export of 48,000 tons of oil seeds said Kebede speaking at the opening of the International Conference on Oil Seeds, Pulses and Spices, held in Addis Ababa.

Export trade is significant for the Ethiopian agriculture led development strategy and sesame production has been contributing to enhance the nations export income he noted.

Ethiopia earned 62.2 million dollars from the export of textile in the fiscal year to 7 July 2011 achieving 73.1 percent of its projection. The amount is a 178 percent increase from the previous fiscal year’s earning which was 23.2 million dollars.

In June 2011 alone the country earned 6.9 million dollars. The money earned in the same period last year was 3.3 million dollars.

Ethiopia has earned 654 million US dollars from the export of minerals including gold, platinum, tantalum and decorative stones and gem stones in the just concluded fiscal year according to the Ministry of Mines.

The mining sector is becoming a significant source of export income according to Bacha Fuji Director of the Public Relations and Communications Directorate with the ministry.

The sector targets generating foreign currency as well as adding value to the GDP with 455 Million US dollars of the total revenue earned by artisan miners he noted.