Comprehensive Efforts Needed to Boost Export Revenue in Ethiopia - ENA English
Comprehensive Efforts Needed to Boost Export Revenue in Ethiopia
Addis Ababa February 8/2022/ENA/ A consultative meeting on the prospects and challenges of the export sector in Ethiopia emphasized the need for comprehensive efforts to boost export revenue.
During the occasion, Addis Ababa Chamber of Commerce and Sectoral Associations (AACCSA) President Mesenbet Shenkute said enhancing product and productivity as well as diversification of export items is of priority.
She added that strengthening the domestic and global competitiveness of exporters is also required.
Lack of market linkage, inadequate access to information, digital market, low quality and diversity of export items are among the challenges of the export sector.
“Indeed our country’s export revenue has increased compared to the previous years. The performance registered in the concluded 2013 Ethiopian budget year is a showcase. Registering 3.6 billion USD revenue when the country is under various challenges is encouraging,” Mesenbet noted.
However, she stressed, gaining 3.6 billion USD and importing 16 billion USD worth goods and services is unhealthy.
AACCSA Acting Secretary General, Shibeshi Betemariam said the ratio of both import and export to GDP has shown a declining trend since 2019.
Lack of diversification is affecting the export sector, he stated, adding that coffee, oilseeds, leather and pulses account about 59 percent of the country’s export.
Mentioning a third of Ethiopia’s export goes to Asia, Shibeshi pointed out that slight shift towards developing countries, particularly Africa where Somalia and Djibouti accounted 15.4 percent of the total export in East Africa.
Addis Ababa Chamber of Commerce and Sectoral Associations (AACCSA) represent extensive business sectors constituting more than 60 percent of business operating in the country.