Ethiopia has earned more than $8.7 billion in export revenue during the past 10 months of the current Ethiopian fiscal year which began on July 8 last year.
Announcing the revenue on Friday, Minister of Trade and Regional Integration and ECX Board Chairman Kassahun Gofe said the amount represents a substantial increase compared to the same period in the previous fiscal year and exceeds the government’s 7.25 billion US dollar target by 20 percent.
Year-over-year, export revenue rose by 6.08 billion US dollars, registering a growth rate of 43.32 percent, the ministry confirmed.
Gofe attributed the better performance to strategic trade policy reforms and the dedication of exporters and industry stakeholders.
The latest export figure emerges as Ethiopia has pursued ambitious macroeconomic reforms, including the liberalisation of its foreign exchange mark since July 2024.
The minister said that the reforms will enhance long-term export competitiveness by reducing distortions between official and parallel market rates.
Ethiopia’s export sector has historically faced challenges, including foreign currency shortages, logistical bottlenecks, and fluctuating global commodity prices.
Coffee alone consistently accounts for approximately one-third of annual export earnings, with primary destinations including China, Saudi Arabia, Germany, and the United States.
MG/as/APA