Ethiopia's Ministry of Trade and Industry announced that Ethiopia has earned $42.75 million from the export of manufacturing goods during the first quarter of the Ethiopian fiscal year that started July 8, 2021. The earning has almost hit the $42.85 million target set for the period.
Ethiopia earned near to 44 million US dollars from the export of textile and textile products in the last two quarters said the Ethiopian Textile Industry Development Institute.
The revenue earned from textile exports in the last two quarters exceeded the amount collected in the same period of the previous fiscal year by almost 23 million US dollars according to Sileshi Lemma Director General of the textile development institute.
Ethiopia secured 461 million US dollars from the tourism sector from an estimated 584, 490 tourists who visited the country in the last financial year according to the Ministry of Culture and Tourism.
The stated revenue does not include earnings from domestic tourism said said Amin Abdulkadir, Minister for Culture and Tourism speaking at a meeting organized to assess the performance recorded by the ministry in the just concluded budget year as well as to launch the action plan for the new fiscal year.
A range of activities intended to promote and enhance cultural, historical and natural tourist attractions in the country contributed to the sum earned according to Amin.
Ethiopia earned 462 million US dollars from the tourism sector in the last financial year according to the Ministry of Culture and Tourism.
The revenue was earned from 584,000 tourists who were entered the country to visit an range of tourist attractions around the country explained Awoke Tenaw, Director of Public and International Relations with the Ministry.
The number of tourists into the country increased by 14% in the last year while the revenue for the sector showed an increase by 69% in the financial year as compared to the previous budget year according to Awoke.
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.
The export sector has witnessed a 25% growth in the last decade claimed Amakele Yimam, Director of the Public Relations Directorate.
