Ethiopia Reports Rise in Earnings from Manufacturing Export

By Xinhua 

Jun 17, 20220

Exports

Ethiopia generated 418 million U.S. dollars in export revenue from the manufacturing sector during the first ten months of the current Ethiopian 2021/2022 fiscal year that started on July 8, the Ethiopian Ministry of Industry has disclosed.

The East African country, which had an initial target of securing 498 million U.S. dollars in export revenue from the manufacturing sector during the stated period, achieved 84 percent of the target, state-affiliated Fana Broadcasting Corporate (FBC) reported late Tuesday.

The reported amount registered a 102 million U.S. dollars increase as compared to the same period of the previous year, the ministry said.

The Ethiopian Ministry of Trade and Regional Integration in April disclosed that the East African country had generated 2.52 billion U.S. dollars in revenue from the export sector during the first eight months of the current Ethiopian fiscal year. The revenue marked a major increase as compared to the same period of the previous year, which stood at 2.1 billion U.S. dollars.

Out of the reported 2.52 billion U.S. dollars export revenue, the agriculture sector represented the lion’s share of the revenue with 1.75 billion U.S. dollars, while the mining sector contributed 389 million U.S. dollars, and the industry sector 320.9 million U.S. dollars. The remaining economic sectors contributed to the rest of the export earnings.