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· Ethiopia’s exports clocked US $3.62 billion in the fiscal year ended on July 7, 2021, which is reported to be a historical high, according to the country’s Ministry of Trade and Industry
· The increase works out to 19.5 percent compared to the previous year. The achievement US$3.62 billion woks out 88 percent of the targeted earning from exports set by the ministry
· The mining contributed 18 percent of the export earnings and exported items included gold, tantalum, and various other minerals
· The export exceeded the target set, by clocking a growth of 102 percent
Ethiopia’s exports clocked US $3.62 billion in the fiscal year ended on July 7, 2021, which is reported to be a historical high, according to the country’s Ministry of Trade and Industry. The increase works out to 19.5 percent compared to the previous year. The achievement US$3.62 billion woks out 88 percent of the targeted earning from exports set by the ministry.
The agriculture sector accounted for the largest share of the earning- 68 percent. Of that, the item -wise export of commodities are: coffee (25 percent), horticulture (13 percent), khat (11 percent), oilseeds (9 percent), and cereal crops (6 percent). The agriculture sector achieved close to 90 percent of the target set.
The mining contributed 18 percent of the export earnings. Exported items included gold, tantalum, and various other minerals. The export exceeded the target set, by clocking a growth of 102 percent.
Close to 11 percent of the export earnings has been obtained from the industry sector, such as textiles, meat and dairy, processed food and pharmaceuticals, leather products, metal and engineering, and chemicals and construction materials. Exports from the industry sector registered 67 percent of the target set. The ministry attributed the increase in exports to improvements and various performance capabilities, which the government has created in recent years.
