Nation Secures Over 4 Billion USD from Export Over Concluded EFY

July 23, 2022 (ENA) Ministry of Trade and Regional Integration revealed that some 4.12 billion USD has been secured from export trade in the just concluded fiscal year.

Ministry of Trade and Regional Integration along with pertinent stakeholders celebrated Export Trade Day on Friday under the slogan: “Buy Ethiopian Unique Taste’’ products in the presence officials, invited guests and stakeholders.

On the occasion, Minister of Trade and Regional Integration, Gebremeskel Chala said 4.12 billion USD was collected from exporting various products to the international markets.

The export performance has showed 13.81 percent increment when compared to the previous year export performance, he added.

The minister pointed out that agriculture; industry and mining sectors have the lion's share contributions to the achievements made in export trade.

Securing 4.12 billion USD from export trade was attained through the implementation of modernizing systems, enhanced collaborations between the ministry and exporters as well as other pertinent stakeholders, the minister indicated.

As the country has immense potential in export sector, the ministry will continue to register more success in the new budget year through enhancing cooperation, modernizing services, he said, adding that creating market linkages, expanding international trade destinations as well as controlling  contraband and illegal trades will be strengthened.  

Speaker of the House of People's Representative,  Tagesse Chafo, on the occasion said that the export performance shows that Ethiopia has registered developments amid difficulties and challenges.

Improving the export trade performance has greater role to minimize gaps of trade balance, reduce loan burdens and build the economy of the country, the speaker said, adding that such efforts need to be strengthened to realize Ethiopia's aspiration of becoming middle income country.

Tagesse underscored that the house is committed to support and working in collaboration with Ministry of Trade and Regional Integration in the latter's effort of strengthening export trade performance.