July 13, 2022 (ENA) Ethiopia has obtained a record-hit 1.4 billion USD from coffee export during the country’s 2021/22 fiscal year that was concluded on the 7th of July.
The country has set an unprecedented record in terms of volume and revenue since it started exporting coffee to the world market, according to Ethiopian Coffee and Tea Authority.
Accordingly, it has earned 1.4 billion USD by exporting 300,000 tons of coffee to the international market during the just concluded Ethiopia fiscal year.
This has an increment of more than 20.54 and 53.8 percent in volume and revenue respectively compared to the same last fiscal year, it was indicated.
Germany is the largest buyer of Ethiopian coffee, followed by United States and Saudi Arabia.
Facilitating loans to coffee exporters and suppliers, as well as the efforts carried out to modernize the logistics services are some of the measures taken with a view to register the encouraging foreign trade performance.
The promotion activities undertaken at the various international trade exhibitions including in the USA, European countries, and Dubai as well as the opening up of new markets to Ethiopian coffee have also contributed to the success registered in the stated period.