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APA -Addis Ababa(Ethiopia)
04 April 2025 | 09:59
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Ethiopia has earned a record $4.5 billion in export revenue during the first eight months of the current fiscal year, the country’s Ministry of Trade and Regional Integration revealed over the weekend.
Trade and Regional Integration minister, Kassahun Gofe, in a briefing said that amid strong performance in major agricultural export commodities, the East African country has generated $4.5 billion from the export of goods during the first eight months of the current 2024/2025 Ethiopian fiscal year, which started on July 8, 2024.
The minister attributed the surge in the country’s export earnings to “significant results” in export diversification and competitiveness. He said various measures carried out in export productivity, implementation of the macro-economic reform policy, and free-floating exchange rate systems have enabled “significant improvements in the export sector.”
Data from the ministry show that Ethiopia’s key export commodities such as coffee, gold, oilseeds, electricity, livestock, and horticulture have exceeded their revenue expectations this fiscal year.
Gofe, in particular, emphasised commendable improvements in the country’s coffee exports to the international market. Recalling that Ethiopia’s annual export revenue from coffee is around $700 million on average in previous years, the minister said the country anticipates more than $2 billion in revenue from coffee exports this fiscal year.
He particularly highlighted the significant improvements in Ethiopia’s coffee exports to the international market. Recalling that the country’s annual export revenue from coffee has averaged around $700 million in previous years, the minister said the country expects more than $2 billion in revenue from coffee exports this fiscal year.
Meanwhile, Gofe emphasised the Ethiopian government’s keen resolve to play a leading role in strengthening intra-African trade by commencing soon a pilot African Continental Free Trade Area (AfCFTA) in selected African countries.
MG/as/APA