Nation’s exports hit over 3.6 bln. USD in fiscal year

ADDIS ABABA (ENA) – Ministry of Trade and Industry disclosed yesterday that Ethiopia has obtained 3.62 billion USD from export trade in the concluded 2013 Ethiopian budget year, which is a record high value in its history.

Trade and Industry State Minister Misganu Arega told journalists that the generated record-amount is 88 percent performance against the plan and has shown 95 percent increment compared to the previous year.

The state minister mainly attributed the record-high export value amid the COVID-19 challenges to the integrated leadership given by the prime minister. “It’s a leadership issue.”

Misganu pointed out that Ethiopia’s export  mainly depends on agricultural products with coffee and flower contributing 25 and 13 percent respectively to the total export value.

He also underscored the need to shift to manufacturing, which is contributing only 6.8 percent to GDP.

Agriculture, manufacturing and mines contributed 2.47 billion, 390 million and 668 million USD respectively to the total earning, according to him.

“We have to expand export in terms of diversity, type, amount, quality and price of products,” Misganu said.

The country earned 3.02 billion USD during the previous fiscal year.

The Ethiopian Herald July 24/2021

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