Ethiopia has earned $3.029 billion from export trade during the past Ethiopian budget year that ended on July 8, 2020, the country’s Ministry of Trade and Industry disclosed.Briefing journalists on Sunday, State Minister for Trade and Industry, Misganu Arega said the earning accounted for 80.4 percent of the target but the previous year’s earnings by 13 percent.
The horn African nation earned $854.21 million from coffee export trade during the period from sale of 271 tons of coffee to different countries mainly to the US.
According to the minister, the earning from the commodity represented more than 93 percent of the plan.
The minister attributed the better achievement with regularized work system and modernized follow-up schemes introduced over the past two years,
Coffee, flowers, oilseeds, Khat and grains were the major items the nation exported accounting 77 percent of the total revenue earned.
Out of the total revenue earned, coffee and flower account 28 and 15 percent respectively, while oilseeds, Khat and grains about 30 percent.
The manufacturing and mining sectors also contributed for more than 20 percent of the total earnings.
According to Misganu, the outbreak of COVID-19 pandemic has negatively impacted the export earnings particularly the manufacturing sector.
Ethiopia’s export earnings during the preceding budget year was $2.67 billion.