Ethiopia Earned USD 1.76B From Foreign Trade in the 2022/23 Fiscal Year With Agriculture Accounting For 77.23% In the Past 6 Months

The Ministry of Trade and Regional Integration (MoTRI) announced that Ethiopia was able to obtain USD 1.7599B income from export trade in the first half of fiscal year 2022/23 while the initial estimate was planned at USD 2.296B. In the last 6 months, agriculture accounted for 77.23%, manufacturing 10%, mining 6.62%, meat and dairy 2.9%, and electricity and other products 3.3%.

Oilseeds, sugarcane products, pen and sugar cane crops, khat production, livestock and forestry products monitored by MoTRI were planned to earn 23% of the 6-month export plan, but these products only achieved 19.03% by earning USD 335M. The 6-month foreign trade revenue showed a decrease of USD 131.97M or 6.9% compared to the revenue of the same period of the previous fiscal year. Smuggling and illegal activities, global market slowdown and non-timely marketing of products are the reasons cited for the decline in export earnings.