( 3 minutes read)
· The performance of Ethiopia’s export will show a 14 percent growth and is set to generate US$ 3.4billion for the current year, according to the analysis of CEHPEUS research and analytics
· Ethiopia is experiencing a gradual change of product mix in the export front. There is sharp rise of gold exports as well as in flower. There is fall in exports to the US and China mainly due to slide in the export of manufactured goods
The performance of Ethiopia’s export will show a 14 percent growth and is set to generate US$ 3.4billion for the current year, according to the analysis of CEHPEUS research and analytics. The expectation of large volumes of exports of gold, coffee shipment and a strong performance from the horticulture sector are the reasons for buoyancy in the export sector.
The Netherlands, Switzerland and Germany during 2019-20 had increased their purchase of Ethiopian goods by over 300 million dollars from the entire export. However, the USA and China, reduced their purchasing order by 25 percent each. Ethiopia is experiencing a gradual change of product mix in the export front. There is a sharp rise in gold exports as well as in flowers. There is a fall in exports to the US and China mainly due to a slide in the export of manufactured goods.
Export has generated only 15 percent to the total foreign currency flow in Ethiopia in the last fiscal year 2019-20 which was US$20 billion. Other significant sources include; services totaling to US$ 4.7 billion, remittances US4.7 billion,, grants US$1.5 billion, loans US$2.7billion and FDI US$2.4billion.
Imports of Capital Goods and Consumer Goods are nearly the same. Imports of capital goods and consumer goods were each nearly 4 billion birr last year and together accounted for 60 percent of total imports.
