ADDIS ABABA – Ethiopia’s export has shown a 13 percent increase as compared to last year amid COVID-19 pandemic.
“Over the past year exports have grown by 13%,” Prime Minister Abiy Ahmed said while addressing the parliamentarians on Monday.
Abiy attributed this to the series of fiscal response measures.
But COVID-19 pandemic “has helped the export sector” too, he said after the demand for Ethiopia’s coffee, meat and flower increases.
Coffee, the mainstay of Ethiopia’s economy, has been one of the big performers over the past ten months.
Abiy said coffee export has shown a 16% growth in sales while collecting $667 million.
The demand for meat in the Middle East has helped to increase its export. Meat export has increased by 21 % with earning reaching 41 million in sales, he said.
The other boost for export is the increase in flower demand. The commodity has helped the country to earn 440 million US dollars after an 84 percent surge, according to PM.
The National Bank of Ethiopia has also increased its Gold reserve by 800 kilograms worth 27 million US dollars.
“The work ahead of us is to sustain growth,” he said.
Although much has been saved from reduced import bills, particularly from oil, the most affected source of revenues are tourism and remittances, according to Prime Minister Abiy.
A worker packs roses for export at the Ethio Highland Flora Farm in Sabeta, Ethiopia [Photo File/Aidan Jones