Manufacturing Generates $238 million Revenues in Six-Month

ADDIS ABABA – Ethiopia’s manufacturing products export has generated $238 million in revenues the first half of the current 2020/22 fiscal year, according to the ministry of industry.

The figure has shown a 27% ($51 million) increase as compared to the same period last year, said Melaku Alebel, minister of Industry

In the same period last year, the country obtained over $187.5 million export revenues from the sector.

According to Melaku, the ministry’s target for the sector was to export products worth $265 million in the past six-month.

It has, however, achieved 90% percent of the plan, falling $27 million short of the target set, the ministry’s report shows.

The total revenue has put manufacturing in the third position among the sectors that generated the most Foreign Exchange for Ethiopia in the first half of the 2021/22FY.

During the six month period, Ethiopia has obtained over $1.89 billion from export trade dominated by the agriculture sector.

Agricultural producers have generated 70% of the export revenue while mining, manufacturing and electric energy exports contribute the remaining 15%, 12.5%, and 2.5% of the total revenue, respectively.

Reports say Ethiopia obtained $283 million revenue from mineral export in the past six months.

One thought on “Manufacturing Generates $238 million Revenues in Six-Month

Comments are closed.