2merkato

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.

Ethiopia has collected $66.4 million from the electricity it exported to neighboring Sudan and Djibouti in the Ethiopian fiscal year that ended on July 7, Ethiopian Electric Power (EEP) announced.

Ethiopia's Ministry of Mines and Petroleum announced that it has secured $681 million from the export of mines in the recently concluded Ethiopian budget year.

Ethiopia earned 71 million US dollars from textile exports in the last ten months. The revenue earned is more than 50% higher than the amount earned at the same time last year although the revenue is 136.3 million US dollars less than expected.

Export of value added finished products has increased with garments sales increasing to 75.1%, woven crafts 5.2%, Textile fabrics 10.7% and yarn 9%.  

The revenue did not meet targets because of delays in textile projects expected to become operational this financial year said Fekadu Ethiopia, Communications Expert with the Textile Industry Development Institute.

Ethiopia earned 71.1 million US dollars from the export of leather and leather products in the past seven months of the Ethiopian budget year according to the Ethiopian Leather Industries Association.

The revenue was earned from the export of finished and semi-processed leather products noted Abdisa Adugna, Secretary General of the ELIA.

The money earned from the export of leather is 25 million US dollars more than the 46 million US dollars in revenue earned in the same period last year said Abdisa.