New Business Ethiopia

The income of the Government of Ethiopia from export of commodities in the first ten months of its current budget year has increased by $721 million as compared to the same period the previous budget year.

Commodity export earnings of Ethiopia during the first nine months of the current fiscal year of the country starting July 8, 2019 has increased by 10 percent reaching $2.09 billion compared to same period the previous year.

The Ministry of Trade and Industry of Ethiopia said during the first five months of the budget year started July 8, 2019, the country has earned a total of $1.12 billion from export of different agricultural commodities, manufactured goods and minerals.

Ethiopia has earned $318 million from the export of flowers and other horticulture products in the concluded fiscal year, which ended July 7, 2019.

Ethiopia’s export performance which has been declining since 2012, has dropped by $170 million for the fiscal year concluded July 7, 2019 as compared to the previous year.

The Government of Ethiopia has secured $50 million grant from the Government of the Netherlands for its Agricultural Commercialization Clusters (ACC) Initiative.

Continuing its decline Ethiopia’s export income for the first nine months of the fiscal year started July 8, 2018, goes down by about 9 percent compared to same time last fiscal year.

Ethio Telecom, the state monopoly telecom service provider in Ethiopia is set to be among the first state enterprises set for partial privatization.