Ethiopia has opened a new chapter in its export trade history by earning $9.8 billion during the first 11 months of the 2018 Ethiopian fiscal year started July 8, 2025, according to the Minister of Trade and Regional Integration, Kassahun Gofe (PhD).
The Minister stated that the country had planned to generate $8.48 billion in export earnings during the 11-month period. However, Ethiopia surpassed this target by earning more than $9.81 billion, achieving 115.66% of the planned goal.
According to Dr. Kassahun, this remarkable performance represents a significant increase compared to the $7.21 billion earned during the same period of the 2017 Ethiopian fiscal year. The latest figure reflects an increase of $2.6 billion, or 36.10% growth year-on-year.
The Minister further noted that the government is not satisfied with this historic achievement alone. Intensive efforts are underway during the remaining one month of the fiscal year to exceed the annual target by an even greater margin.
Dr. Kassahun Gofe also expressed his sincere appreciation to producers, exporters, and all stakeholders whose hard work and dedication made this historic success possible. He emphasized that, through collective efforts, Ethiopia will continue to advance its path toward sustainable prosperity. “Through our joint efforts, we will ensure Ethiopia’s sustainable prosperity,” he said.
Ethiopia’s export performance over the past five years has been uneven, with strong growth between 2020 and 2022 but a notable decline in 2024. Coffee has remained the backbone of the economy, consistently earning over $1.4 billion annually, while gold, oilseeds, and flowers have provided diversification. Official government and international sources confirm both the growth and the recent downturn.
Between 2019 and 2020, Ethiopia’s exports rose from about $3.45 billion to $7.67 billion, with coffee, oilseeds, and livestock leading the way. Coffee alone contributed nearly half of total export earnings, a figure supported by reports from the National Bank of Ethiopia and the Ethiopian Customs Commission.
In 2021 and 2022, exports surged to $8.49 billion and $10.45 billion, respectively, according to World Bank data. Gold became increasingly important during this period, accounting for roughly 21% of exports, with Switzerland as the primary destination, while cut flowers reached $285 million, mainly shipped to European markets.
However, the momentum slowed in 2023, when exports reached $10.79 billion, a modest growth of just over 3%. By 2024, merchandise exports fell sharply to $3.21 billion, representing a 17.1% decline compared to 2023, according to the Ethiopian Statistical Service’s External Merchandise Trade Statistics (Q4 2024).
Coffee remained dominant at $1.46 billion, but other items such as oilseeds ($271 million), dried legumes ($183 million), and electricity ($85 million) could not offset the downturn. This trajectory highlights Ethiopia’s vulnerability to global commodity price shifts and underscores the urgent need for diversification into manufactured goods and value-added agricultural products to stabilize future export earnings.
