Export Generates Over $3b in Revenues

Jul 18 , 2020

The export of commodities has generated just over three billion dollars during the just ended fiscal year, according to the Ministry of Trade & Industry. The revenues accomplished 80.4pc of the planned 3.77 billion dollars. The revenue has also shown a 13.6pc growth from the same period of the previous year. Ethiopia earned 2.67 billion dollars from exports during the 2018/19 fiscal year. Regularised work systems and modernized follow-up schemes are attributed to have been the cause of the significant increase over the past two years, according to Misganu Arga, state minister for Trade & Industry. From the revenues generated, 77pc stems from agricultural product exports like coffee, flowers, oilseeds, khat and grain. Out of this, coffee and flower account for 28pc and 15pc, respectively, while oilseeds, khat and grain accounts for approximately 30pc. Manufacturing and mining sectors contributed more than 20pc of the total earnings. The state minister underlined that the Novel Coronavirus (COVID-19) has inflicted severe impacts on the export trade, particularly on the export of manufactured goods.