ADDIS ABABA – Ethiopia has bagged over $515 million from Coffee export in the first five months of the 2021/22 fiscal year.
The figure has shown a $240.81 million increase as compared to the same period last year.
The country has exported over 133,113 tons of coffee and earned $515.08 million in the five-month, said Ethiopian Coffee and Tea Authority today.
The authority also said the sector has managed to attain the target set for the period by 123% and 114% in terms of volume and revenue.
Germany remains to be the major market for Ethiopian coffee export.
The authority said 25% (32,889tn) of the total coffee exported in the five-month period to the European nation, generating nearly $110 million.
According to the Authority, more than 66.31 million birr worth of 19,287.87tn Coffee have also been exported to Saudi Arabia in the same period.
This has made the gulf nation the second top destination for Ethiopian coffee export.
Belgium has imported 13,252.26tn Coffee worth $55.02 million from Ethiopia, taking the third spot.