Ethiopia secures $1.33 billion from export trade

The government of Ethiopia has secured $1.33 billion from export of goods during the first six months of the country’s fiscal year started July 8, 2019.

The Ministry of Trade and Industry of Ethiopia was planning to secure $1.66 billion from export during the six months time, according to the information from the Ministry.

Meanwhile compared to the previous year first six months performance, which is $1.21 billion, the income has increased by 10 percent.

The report shows that about $364.8 million was secured from export of 132.968.55 tons of coffee. Flower has generated $225.26 million, an increase of about 183 percent compared to same time the previous year.

Some 30,453.43 tons khat (the stimulant plant) export has generated $173.75 million, followed by $108 million income from oil seeds export and about $99.9 million from textiles.

The major goods that generated more Forex for the country include oil seeds, natural gum, khat, flower, electricity, fruits and vegetables, according to the report of the Ministry.

It is also stated that eucalyptus, coffee and textiles have also generated significant amount of Forex for Ethiopia.

Tea, grains / cereals, spices, meat, leather and leather products, tantalum are also listed among the commodities exported meeting 50% to 75% of target of the Ministry for the period.