Nation Collects Over $3bln from Exports in 2019/20

ADDIS ABABA – Ministry of Trade and Industry announced that Ethiopia earned over 3.029 billion US dollars from export in the recently concluded fiscal year of 2019/20.

The Ministry said the amount accounts for 81 percent of the planned earning of $4.6 billion for the period.

Despite not hitting the target, the country managed to increase the earning by 14 percent or 300 million dollars as compared to the previous fiscal year.

Agricultural exports have brought much of the foreign currency to the country during the period. Up to 2.3 billion US dollars collected after the country exported 1.1mln tons of agricultural products to the international market.

That followed by industrial products which generated 406 billion US dollars while at least 208 million US dollars were collected from mineral export.

The remaining were garnered from electricity export.

The ministry mentioned strict control on contraband trade and collaborative work between regions and other actors in the sectors have helped for the increase in revenue in export trade.

USA, Somalia, Netherlands, Saudi Arabia, China, UAE, Djibouti, Germany, Japan, and Israel have been identified as the top ten importers of Ethiopian products.

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