Ethiopian Coffee and Tea Authority (ECTA) disclosed that the export revenue in July rose by 43 percent compared to the previous month.
The earning is the biggest ever over the last 36 months, the sector’s regulator said in a statement.
ECTA says Ethiopia exported 40,532 tons of coffee in July, up by 78 percent from a year earlier. This has also contributed $54.29 million more to the nation’s forex earnings than the same month last year.
Overall, the sector regulator said the coffee industry achieved its export volume and revenue targets set for the last month by 132 percent and 110 percent respectively.
“It is a very encouraging and outstanding performance,” ECTA’s Director General Adugna Debela said, adding that: this shows that coffee can continue to be the mainstay of the nation’s economy.
The Coffee industry is considered the backbone of the country’s agriculture-led economy. Its exports in the previous financial year brought the country $1.43 billion in annual revenue.
MG/abj/APA