Ethiopia-Economy

Ethiopia earns $1.8bn from export in seven months

APA-Addis Ababa (Ethiopia)

Ethiopia has earned $1.8 billion from export of different commodities during the first seven months of the current budget year of Ethiopia that started on July 8, 2020.

Compared to the same period the previous year, the earnings of the country from export has increased by 15 percent. Out of the total earnings, close to $1.18 billion was generated from agricultural commodities export.

Minerals and manufacturing have also generated close to $374 million and $211.4 million, respectively, according to the report of the Ministry of Trade and Industry of Ethiopia.

Meanwhile the report stated that export performance of leather products has declined compared to the previous year. To improve this, the Ministry is working to solve a shortage of inputs for tanneries and leather goods manufacturers, which includes facilitating timely access to hard currency.

The export earnings of Ethiopia for the budget year concluded July 7, 2020, has increased by 13 percent to surpassing $3 billion from the previous year. The Ministry of Trade and Industry stated that Ethiopia has secured $3.029 billion of which 77 percent is generated from agricultural commodities export.   



MG/abj/APA

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