Manufacturing Exports Generate $500m Despite Trade Restrictions

Jul 17 , 2022


The export of manufactured goods brought in half a billion dollars of revenues in the financial year ended this month, according to the Ministry of Industry. It is over 100 million dollars more than what manufacturers brought in the year prior. The manufacturing sector has been among the hardest hit by the foreign currency crunch, leading to a shortage of raw materials. The predicament has pushed manufacturing industries' average capacity utilisation rate below 30pc. In recent years, more than two dozen factories have been forced to close their doors. The revenues come despite Washington's decision to debar Ethiopia from the African Growth & Opportunities Act (AGOA) – a preferential trade regime that allows eligible countries to export goods duty and quota-free to the American market. The textile industry was the primary beneficiary of AGOA. Ethiopia generated 240 million dollars two years ago, exporting under AGOA, representing 40pc of the total shipments the country sent to the US. Sandokan Debebe, chief executive officer (CEO) of the Industrial Parks Development Corporation, disclosed last week the federal government submitted a formal request to President Biden’s Administration to reinstate Ethiopia under the AGOA privileges.


Radar

Ethio Telecom Launches New Marketplace with Cash-Back Guarantee

Ethio Telecom has launched Zemen Gebeya, a nationwide digital marketplace integrated into the telebirr SuperApp, offering a secure platform for consumers and businesses to trade goods and services. The platform includes a built-in escrow service, allowing payments to be held temporarily until the buyer confirms delivery. If a product is not delivered or the buyer is dissatisfied, the payment is returned—creating a cash-back guarantee model designed to build trust in online transactions. Lau...


Radar

Ethiopia-Israel Business Forum Opens Doors to Investment Opportunities

The Ethiopia-Israel Business Forum took place last week at the Hyatt Regency Addis Abeba, bringing together Ethiopian government officials and investors from Israel. Officials presented a range of investment opportunities, while Israeli investors expressed interest in entering the market. The forum opened with remarks from the foreign ministers. Gedion Timotheos, Ethiopia's Minister of Foreign Affairs, used his address to extend a formal invitation to the Israeli business community, stressing...


Radar

National Bank Injects Millions Through Foreign Currency Auction

The National Bank of Ethiopia (NBE) is continuing its push to stabilise the foreign exchange market, injecting millions of dollarss into the economy through a series of currency auctions. According to official data, the latest auction was held on May 7, 2025, during which 60 million dollars was supplied to 16 participating banks at an average exchange rate of 132.9643 Br per dollar. In the previous month, the NBE held two auctions: 70 million dollars was offered on April 16 to 26 banks at an...