Ethiopia’s Six-Month Export up by 20.5% to $1.89 Billion

ADDIS ABABA – Ethiopia has earned more than $1.89 billion from export trade in the first half of the current fiscal year, showing a 20.5% increase.

Denge Boru, state minister of Trade and regional integration, said the amount grew by $322 million (or 20.5%) as compared to the same period last year.

Trade officials are content with the performance taking into consideration the internal and external challenges the country has been facing in the recent months.

The total earning is, however, $90 million short of the target the Ministry set for the period.

The country planned to obtain $1.98 billion from export in the six month period, attaining 95 percent of its target.

Agriculture sector continues to be a mainstay of Ethiopia’s export trade.

The ministry said exports of agricultural products have generated 70% of the total export revenue in the first half of the budget year, followed by Mining (15%) and manufacturing (12.5%).

The remaining $48 million earning or (2.5%) has been generated from electric energy and other goods export.

The ministry put Coffee, gold, oilseeds, flower, chat, garment and textile as main contributors of the export trade in the past six months.

Its officials said efforts will be intensified to expand international market destinations as well as increase the type and volume of products in the remaining parts of the 2021/22 fiscal year.