Ethiopia Earns Over 680 Million US Dollars from Mineral Export

ADDIS ABABA – Ethiopia has earned more than 680 million U.S. dollars from the mineral export in the 2020/21 Ethiopian Fiscal Year that ended on July 7, 2021, according to Ministry of Mines and Petroleum.

The amount has shown a 259 million increase as compared to the revenue registered in the previous 2019/20 fiscal year, during which Ethiopia earned 207 million US dollars.

The country last recorded as nearly as the 681mln USD amount during the heyday of the sector a decade ago.

“The country has earned a total of 681 million US dollars from mineral export. The revenue is the highest the ministry recorded in the recent years,” said Takele Uma, Minister of Mines.

Mineral export is one of Ethiopia’s major foreign currency earners. The country exports gold, silver, tantalum, gemstones and marble.

The current fiscal year, which began on Thursday, the Ministry of Mines and Petroleum plans to generate a total of 1.5 billion US dollars in the next fiscal year.