Export Earnings Surpass $3.6b


Export Earnings Surpass $3.6b

Ethiopia earned a record-high 3.62 billion dollars from the exports of goods last year, according to officials at the Ministry of Trade & Industry. The figure is over half a billion dollars greater than what was registered in 2019/20. The increase is attributed largely to the surge in revenue from the export of coffee and gold, the country's two top export items. Over 900 million dollars was garnered from the export of coffee last year despite the volume being 42,000tn lower than what was sent abroad the year before. Gold export generated over 600 million dollars while horticulture brought in a similar amount. Khat trails close behind, earning the country an estimated 400 million dollars. Agricultural items still have the lion's share of export products, accounting for two-thirds of the amount generated.


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Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


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AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


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Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...


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