9 months report of Ethiopia’s export takes further decline both in meeting targets and comparison to last fiscal year’s performance. The report, which is expected to be presented to the House of Peoples’ Representative (HPR) by the Ministry of Trade (MoT), reveals export earnings from agriculture, manufacturing and mining sectors have declined.
Ethiopia plans to improve the volume of its export trade. According to the Ministry of Finance and Economic Cooperation, the plan is set to reduce the country’s USD 26 billion debt. The Ministry’s Communication Director, Ato Haji Ebsa, said the performance of the export trade was low and that there is a huge gap between its export performance and its external debt.
Export revenue from industrial parks falls short of expectations in the 2023/24 fiscal year. The Ethiopian Investment Commission (EIC) reported a total export value of USD 115.2 million, 46% of the targeted amount.
Ethiopian Road Authority said two projects of the Mojjo-Hawassa expressway, a project which constitutes East African Corridor- section of Trans African highway, were being constructed as per the schedule while the bidding process for the last two schedules was being finalized.
Ezana Mining Development, mining company from Ethiopia, commenced pilot production in Tigray State in its newly built plant.
