Export Revenues See 14pc Growth

Jul 17 , 2022

The export of goods over the 2021/22 financial year brought in 4.12 billion dollars, nearly 14pc higher than revenues generated the year before. Agricultural commodities account for close to three-quarters of the revenues. Coffee remains the most valuable export item, generating 1.4 billion Br. Germany, the United States, and Saudi Arabia were the biggest buyers of Ethiopian coffee last year. Khat and cut flowers together brought in an estimated one billion dollars. Manufacturing industries managed half a billion dollars in export revenues, while the mining sector accounted for 12pc of total revenues. Revenues from the export of gold registered at half of what the authorities had projected, while leather and leather products brought in a third of projections as the industry continues to struggle with a lack of quality raw materials and foreign currency.



Street vendors around the Shola area take a rest in the shades of the capital's newly planted trees. Upon reporting on its 10-month performance before Parliament, the Agriculture Minister, Girma Amentie indicated that up to 43pc of the arable land in the country has been rendered acidic. This requires large amounts of limestone to be imported from abroad; the tight forex crunch has not allowed the Ministry of Finance to fund the endeavour easily. Following the rallying call of the Prime Minister...



Residents of communal houses around the Weji area hang their clothes on the fences outside. Textile manufacturing accounts for 87pc of Ethiopia's products from industrial parks. Expulsion from the African Growth & Opportunity Act (AGOA) due to the war in the North resulted in Ethiopia being expelled from the preferential trade act. Most companies choosing to rent sheds within the industrial parks do so out of a desire to access the duty-free privileges provided for African countries. Ethiopi...



Vendors put traditional beauty products from the Somali Regional State for sale around Mexico area. In November of last year, the Ministry of Finance banned imported goods under 38 categories, including cosmetics, packed foods, and furniture, from accessing letters of credit. The move resulted in the tripling of costs for cosmetic items like lipstick and nail polish. As Ethiopia ran a 14 billion dollar merchandise trade deficit last year due to import bills hiking by 26pc , a tight clampdown on...