THE Ethiopian government has announced that it earned $617 million from the export of selected agricultural products over the span of eight months, according to a press statement released by the Ethiopian Ministry of Trade and Regional Integration on Thursday.
The revenue was generated from the export of commodities monitored by the ministry, including soybean, red kidney beans, mung beans, and sesame seed. The ministry had initially set a target of $705 million in export revenue for the first eight months of the current Ethiopian 2023/24 fiscal year, which commenced on July 8.
However, the $617 million export earning represents 87.51 percent of the initial target, as disclosed by the ministry. Data from the ministry indicate that the reported export revenue has seen an increase of nearly $80 million compared to the same period in the previous Ethiopian 2022/23 fiscal year.
The ministry attributed the improved export performance to the growing demand for Ethiopia’s major agricultural export commodities and an increase in the country’s sesame seed production output.
This announcement underscores Ethiopia’s continued efforts to strengthen its agricultural sector and boost export earnings, contributing to the country’s economic development and stability.