Ethiopia’s Trade Soars as Djibouti Port Drives Import Growth

November 3, 2024

ESLE reports strong revenue boost

ADDIS ABABA – Djibouti Port remains Ethiopia’s primary seaport for import and export trade, according to the Ethiopian Shipping and Logistics Enterprise (ESLE).

Despite utilizing multiple seaports for its trade activities, Ethiopia heavily relies on Djibouti for the bulk of its shipping needs.

In the past three months, Ethiopia imported over 1,857,000 tons of goods through Djibouti, both containerized and non-containerized. ESLE Corporate Communication Department Head, Demsew Benti, told the Ethiopian Press Agency (EPA) that 60,107 tons of fertilizer were also transported through Kenya’s Lamu Port, with 13,246 tons reaching Moyale, enhancing the nation’s total imports to 870,444 tons.

In the first quarter of the current fiscal year, ESLE handled 669,400 tons of dry bulk cargo, with 26,300 tons shipped outside containers and 402,100 tons in containers. The enterprise provided extensive services in shipping, transit, port, and terminal operations, moving 860,387 tons of goods using both owned and rented vessels.

Revenue for this period reached 21.2 billion Birr, with an expenditure of 18.79 billion Birr, resulting in a pre-tax profit of 2.41 billion Birr. Compared to the same period last year, revenue surged by 62.4%, expenditures rose by 69%, and profit increased by 24.4%.

BY TSEGAYE TILAHUN

The Ethiopian Herald November 3/2024