Export

Ethiopia Earns Over $1.4 Billion from Coffee Exports

Ethiopia Earns Over $1.4 Billion from Coffee Exports

Ethiopia has announced record-breaking earnings from its coffee exports this fiscal year, with revenues exceeding $1.4 billion. The Ethiopian Coffee and Tea Authority reported that the country earned more than $1.43 billion from coffee exports during the 2023/24 financial year. According to the Director General of the Authority, Adugna Debela, Ethiopia achieved significant results both in terms of volume and income. The country exported 298,500 tons of coffee, marking a substantial increase compared to previous years. This year's performance shows a 20% increase in volume and a 7.5% rise in price levels. Last year, Ethiopia exported 240,000 tons of coffee,…
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Ethiopia Earns Over $390 Million from Flower Exports

Ethiopia Earns Over $390 Million from Flower Exports

Ethiopia earned more than $390 million from the flower export trade in the past ten months. The Ministry of Agriculture announced that the horticulture investment sector, particularly flower exports, significantly contributes to Ethiopia's foreign exchange earnings. Dereje Abebe, Chief Executive Officer of Agricultural Investment and Product Marketing at the Ministry of Agriculture, reported that Ethiopia earned $392 million by supplying 79,819 tons of flower products to international markets over the past ten months. He highlighted that most of Ethiopia's flower production is exported to European and Asian countries, with the Netherlands being the largest recipient. Although the sector's performance over…
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Ethiopia Security Fails to Control Illicit Gold Trade

Ethiopia Security Fails to Control Illicit Gold Trade

Ethiopia had ambitious plans to generate $363 million from gold mining over the past nine months. However, only 67 percent of this target has been met. The Ministry of Mines identifies illegal gold trading as the primary obstacle, despite efforts by the Defense Command Post and the National Intelligence and Security Service to curb it. Illegal trading, smuggling, and security issues have significantly hindered the industry. Only three tons of gold have reached the National Bank in the past nine months, which is just 50 percent of the planned amount. In March, the National Bank received a mere 350 kg…
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Ethiopia Grants Domestic Market Access to Foreign Companies

Ethiopia Grants Domestic Market Access to Foreign Companies

Ethiopia has allowed foreign companies operating in its industrial parks to sell their products in the domestic market. This policy change aims to enhance foreign direct investment (FDI) and boost foreign trade by providing more flexibility to investors. Ethiopia, which currently hosts 13 industrial parks, has now permitted these parks to supply up to 50 percent of their products to the local market. This initiative is part of the Ethiopian government's broader strategy to stimulate economic growth and attract foreign investments. The Ethiopian Investment Commission announced this new policy, emphasizing that it represents a significant shift from the previous restriction,…
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Britain Cuts Off Tariffs to Ethiopian Flowers

Britain Cuts Off Tariffs to Ethiopian Flowers

Britain has announced a significant policy change regarding the importation of Ethiopian flowers, allowing them to enter the country duty-free. The British Trade Commission issued a statement lifting the 8 percent tax previously imposed on traders importing flower products into the UK, effective from April 11, 2024. This decision marks a pivotal moment for both British and East African economies. John Humphrey, the British Trade Commissioner, highlighted the positive implications of this move, emphasizing that tax-free imports will not only benefit flower producers and traders in East African countries but also stimulate flower production in Britain. Humphrey emphasized the mutual…
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Ethiopia Generates Over $252 Million from Mining Sector

Ethiopia Generates Over $252 Million from Mining Sector

The Ministry of Mines recently announced a significant milestone for Ethiopia's economy, revealing that the mining sector has contributed over $252 million in revenue during the last eight months of the fiscal year. Minister of State for Mines, Million Mathios, disclosed that this impressive sum was achieved through the exportation of various minerals to international markets. Among the exported minerals, gold featured prominently, with more than 2,673 kilograms making its way to foreign markets. Additionally, substantial quantities of tantalum and luteum ore, totaling over 66 tons and 11,176 tons respectively, were exported during the same period. The export figures also…
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Ethiopia Earns $285 Million from oilseeds and pulses Export

Ethiopia Earns $285 Million from oilseeds and pulses Export

The Ministry of Trade and Regional Integration has reported that Ethiopia earned $285.53 million from the export of oilseeds and pulses over the past six months. This revenue marks a significant contribution to the country's economy. Specifically, in the first half of the current fiscal year, $109.66 million was generated from oilseed exports, surpassing the ministry's expectations by 109 percent, as outlined in its six-month performance report. This represents a $26 million increase compared to the same period last year, indicating a positive trend in Ethiopia's export market. Additionally, the export of cereals contributed substantially to the country's earnings, amounting…
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European Union Law Threatens Five Million Ethiopian Coffee Farmers

European Union Law Threatens Five Million Ethiopian Coffee Farmers

Five million Ethiopian coffee farmers are facing existential threats due to a recent EU law. The European Union passed legislation two weeks ago aimed at barring the entry and sale of products deemed environmentally harmful within its member countries. The law, crafted to combat global warming and prevent deforestation, targets products linked to forest depletion, thereby promoting environmental preservation efforts. Of particular concern is the impact of this law on Ethiopia, a major exporter of forest coffee to European and global markets. The Ethiopian Coffee Association has voiced apprehension, warning that failure to accommodate Ethiopia's unique circumstances under the new…
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Sudan Defaults on $70 Million Electricity Payment to Ethiopia

Sudan Defaults on $70 Million Electricity Payment to Ethiopia

As part of its energy procurement strategy, Sudan has been purchasing electricity from Ethiopia for several years. However, the East African nation has fallen behind in clearing its outstanding debt, resulting in a substantial shortfall in payment. This failure to settle its dues has prompted Ethiopia to reduce the electricity supplied to Sudan by 50 percent. The situation is exacerbated by Sudan's ongoing civil war, which has displaced over 8 million citizens. Consequently, neighboring countries like Ethiopia, Egypt, and Chad have absorbed a significant portion of Sudanese refugees. Over the past six months, Ethiopia anticipated earning $66 million from the…
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Ethiopia’s Leather and Mineral Exports Suffer $200 Million Revenue Loss

Ethiopia’s Leather and Mineral Exports Suffer $200 Million Revenue Loss

Ethiopia has experienced a significant loss of revenue, amounting to $200 million, from its leather and mineral exports. The Ethiopian Leather Industries Association recently reported a staggering loss of $100 million over the past six months alone. Endale Seifu, the secretary of the association, disclosed that there was an initial target of earning $124 million from the export of leather products during this period. Unfortunately, the actual achievement fell drastically short, with only $14.8 million realized. This marks a considerable decline of $3.5 million compared to the corresponding period last year, indicating a troubling trend for the leather sector. The…
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