Over the past three years export earnings of Ethiopia from coffee has shown an average annual growth of 27.5 percent reaching $909.4 million during the last budget year 2020/21 ended July 7, 2021.
The export revenue of the country from coffee, which was $764.1 million in 2018/19 has increased to $855.9 million in 2019/20 registering 28.6 annual growth, according to the latest report of the National Bank of Ethiopia (NBE) released in March 2022.
During the budget year 2020/21, the hard currency income of Ethiopia from coffee export has increased by 25.1 percent to 909.4 million, according to the annual report, which compiled the data from Ethiopian Customs Commission.
“The increase in export earnings from coffee stood at $909.4 million driven by 15.9 percent rise in international price despite 8.3 percent drop in its export volume. The share of coffee in total merchandise export revenue declined to 25.1 percent from 28.6 percent last year,” NBE stated.
It is recalled that during the first six months of the budget year started July 8, 2021, Ethiopia has earned $578 million by exporting 148,882 tons of coffee.