Ethiopia has earned $676 million from its export trade in the first two months of its new fiscal year which began on July 8, 2021.The east African nation had set to make $643 million during the stated period but managed to earn $676 million, securing 108 percent of the target set for the period, Minister of Trade and Industry, Melaku Alebel has said.
The figure has also shown a 16 percent increase as compared to the same period of the previous fiscal year, during which export trade generated $581 million.
The figure has also shown a 16 percent increase as compared to the same period of the previous fiscal year, during which the export trade generated $581 million US dollars.
Agricultural commodities have continued to dominate Ethiopia’s export trade, contributing at least 74 percent of the two-month revenue.
Coffee, flowers and Khat combined have generated 61 percent of the earnings obtained from agricultural produce export trade, data from the ministry shows.
Manufacturing has contributed 13 percent of revenue to the total earnings, with commodities, such as textile (5 percent), meat and dairy (3 percent) as well as food and beverage (3 percent), playing a major role.
Mineral export accounted for 11 percent of the total value of $676 million export earnings in the two-month period.
Gold export alone has generated almost all (10 percent) of the sector’s contribution.
During the previous 2020/2021 fiscal year, Ethiopia earned $3.6 billion from the export of different commodities.