Export Revenues Slump

Aug 3 , 2019

Ethiopia’s earnings from exports in the current fiscal year stood at 2.67 billion dollars, a 5.98pc decline from the previous year. This was well below its target of 4.32 billion dollars. Political instability, low quality of the commodities, the volatility of global prices, electric power interruptions and a growing contraband trade are the main reasons mentioned by the Ministry of Trade & Industry for the decline in performance. “Resolving these key problems, we plan to earn 4.69 billion dollars from exports in the current fiscal year,” said Wondimu Filate, communications affairs director at the Ministry. For the current fiscal year, the Ministry said export of agricultural commodities will generate 3.32 billion dollars, while manufacturing will bring in 1.02  billion dollars. It also expects the mining sector and electric power to contribute 265.82 million dollars and 83.66 million dollars, respectively.