Ethiopia Secures $2.52 Billion from Eight-Month Export trade

ADDIS ABABA – Ethiopia earned over $2.52 billion dollars revenue from export trade in the first eight-month of the 2021/22 fiscal year,  a top trade official said.

The announcement was made during a parliamentary session that reviewed the Ministry of Trade and Regional Integration’s performance report on Tuesday.

In his report, Trade and regional integration minister, Gebremeskel Chala said the nation has exported various commodities worth $2.52 billion in the eight-month period, beginning July 2021.

His report also put achievement at 91% of the ministry’s plan which was set at $2.77 billion.

As compared to the same months of last year however, the value of the export trade has shown a 20% increase, the minister said.

– Agri Remains on Top –

The agriculture sector has continued to contribute the most in export trade earning for Ethiopia.

The country was able to export agricultural products worth $1.75 billion to the international market during the eight month period, the ministry reported.

Manufacturing and mining sectors were also able to respectively generate $320 million and $389 million revenues. the remaining revenue was contributed by other sectors such as electricity.

The export trade performance remains on a similar track as previous fiscal year in terms of value.

Ethiopia exported $3.6 billion worth commodities to the international market during the previous 2020/2021 FY. About $2.47 billion of the total revenue was obtained from agricultural commodities export.


[Featured Image File]