Ethiopia’s Ministry of Industry announced that industrial products worth $433 million were supplied to foreign markets during the past nine months of the 2018 fiscal year.
While presenting the evaluation of the government’s third 100-day performance review, Minister of Industry Melaku Alebel stated that, in the past nine months alone, industrial products valued at $433 million were exported.
He also noted that efforts have been made to substitute imported goods with domestic production, adding that products worth 4.85 billion dollars were produced during the same nine-month period as import substitutes.
The minister said the sector has made a significant contribution to job creation, increasing government revenue, and stimulating the economy. He also stated that the sector has played a positive role in helping control the cost of living.
He further noted that the growth of the industrial sector, which had previously not exceeded 4.8 percent, has now reached 13 percent.
He pointed out the need for continued efforts to attract and operationalize new foreign investments in the country. Going forward, he said the government will focus on addressing challenges related to finance, power supply, land availability, and skilled manpower to enhance industrial production capacity.
He also stated that the “Ethiopia Tamirt” (Made in Ethiopia) movement has laid a strong foundation in the manufacturing industry, and under the rural industrialization movement, 754 industries have begun production.
