Nation Earns over 1.3 Billion USD from Export in Half Year

ENA, January 29/2020 Ethiopia has earned over 1.3 billion USD revenue from export of various products during the past six months, according to Ministry of Trade and Industry.

Briefing journalists today, Ministry Public Relations and Communication Director Wondimu Filate said the stated revenue shows about 10 percent growth when compared to the 1.21 billion USD during same period last year.  

The revenue obtained in the period is, however, below the planned 1.66 billion USD, it was learned.

According to the director, the income is generated from coffee, cereal, textile, chat, oilseed, spice, flower, leather, livestock and other products exported to 137 countries.

Somalia, Netherlands, and USA were the major export destination countries for Ethiopian products.  

Wondimu stated that the export commodities coffee, chat, spice, flower, fruit and vegetables, leather and leather products registered increased income as compared to same period last year.  

The export performance of livestock, gold, pharmaceuticals, milk, meat, honey, and chemical and construction materials are low, the director said.

Efforts are underway to create enabling environment for ease of doing business in order to increase export, according to the director.

The online trade registration and licensing system started is expect to improve the performance of export sector that has been declining.  

The low performance in the sector is the result of lack of foreign exchange, security, modern trading system as well as  insufficient agricultural supply, among others, the director noted.

The country is working to become member of world Trade Organization and ratifies Continental Free Trade Area agreement, it was learned.

In stark contrast to its export, Ethiopia imports 15 billion USD products annually, it was learned.