Ethiopia Earns $2.2 Billion From Exports

Addis Ababa, Ethiopia - Ethiopia secured close to 2.2 billion dollars from export during the last nine months of the current fiscal year, which only shows a 2.8pc increment compared to the same period last year.

Coffee still remains the country’s main export item generating 513.8 million dollars; followed by gold, which generated 432.1 million dollars. Oilseeds came third generating 314.5 million dollars for the country.

Somalia ranks first in terms of export destinations for Ethiopian products consuming 9.3pc. China and Germany consumed 8.3pc and 8.1pc, respectively, according to the data obtained from the Ministry of Trade (MoT). Export items to Somalia include live animals, fruits, vegetables, pulses and spices.

During the nine months of the 2011/12 fiscal year, Ethiopia earned 2.1 billion Br from exports while 3.1 billion dollars was secured in the last fiscal year, by exporting of 1.25 million tons of products. The revenue earned in 2011/12 fiscal year was 14.8pc higher than the 2.7 billion Br generated in 2010/11.

The country had projected export earnings of 4.5 billion dollars for the current fiscal year.

Source: AddisFortune.com