(3 Minutes Read)
Ethiopia has posted a historic surge in export earnings, generating USD 7.21 billion in the first eleven months of the 2024/2025 fiscal year — a 57% increase over the government’s initial forecast of USD 4.59 billion. Compared to the same period last year, this marks a rise of nearly USD 4 billion, as reported by the Ministry of Trade and Regional Integration.
Presenting the ministry’s performance report to the House of Peoples’ Representatives, Minister Kassahun Gofe attributed the exceptional performance to robust contributions from the mining, agriculture, and manufacturing sectors. Notably, mining outpaced its revenue target by 425%, agriculture achieved 118% of projected earnings, and manufacturing exceeded expectations with 57% growth over its goal.
Officials highlighted these achievements as a direct result of Ethiopia’s ongoing economic reforms, which include sector liberalisation, improved trade facilitation, and infrastructure development. These measures are designed to enhance global competitiveness and support long-term growth.
Minister Gofe also updated lawmakers on Ethiopia’s WTO accession, stating the process is “progressing well,” though no firm timeline was provided. The nation first applied in 2003, with recent efforts signalling a renewed push to align with global trade standards.
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The strong export showing reinforces Prime Minister Abiy Ahmed’s projection of 8.4% economic growth for the fiscal year, underscoring Ethiopia’s status as one of Africa’s fastest-growing economies. As the country advances toward its 2030 goal of middle-income status under its ten-year development plan, sustaining export momentum will hinge on continued reforms, institutional strengthening, and investment in value-added production and trade infrastructure.
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