Ethiopiaexport

18 Jul

Ethiopia’s Export Trade Falls Short by $1 Billion

ethionegari@gmail.com0 CommentsBusiness, NewsAddisAbaba, EthioNegari, Ethiopia, Ethiopiaexport, Ethiopianews, Expo2023

Ethiopia planned to earn $4.8 billion from exports in the 2023/24 fiscal year. However, according to the Ministry of Trade and Regional Integration, the country has announced that it has earned $3.8 billion from exports, falling short of its target by $1 billion. The earned income represents a 4.6 percent or $166 million increase over the $3.64 billion earned in the previous fiscal year. The agricultural sector accounted for the largest share of this income, contributing 76 percent, followed by manufacturing, electricity, and other sectors. Over the past 12 months, Ethiopia has imported more than 3 million metric tons of…

24 Apr

Ethiopia’s export shows $one billion deficit

ethionegari@gmail.com0 CommentsBusiness, News, PoliticsAddisAbaba, EthioNegari, Ethiopia, Ethiopiaexport, Export, Tradedeficit

According to the Ministry of Trade and Regional Integration, Ethiopia planned to earn $3.7 billion from exports in the last nine months. However, the income was reduced by one billion dollars to 2.6 billion dollars. Security problems, illegal trade, a slowdown in world trade and the Russia-Ukraine war have been cited as reasons for the decline in revenue. Agriculture accounts for 77 percent of the revenue, while the rest is mining, industry and electricity sales, the ministry said. Ethiopia, which has been at war for the past two years, has weakened its export business, and the sanctions imposed by the…