Ethiopia earns $ 1.5 bln from exports

By Tesfa-alem Tekle

August 6, 2008 (ADDIS ABABA) — Ethiopia during the winding year of millennium turns in a record 1.5 billion USD from items exported, the ministry of trade and industry disclosed.

The figure mentioned above has seen a 25% increase to that of the total sum collected last year. Among the items that return major foreign currency the usual coffee has taken the lion’s share of the overall income with 525 mln USD, while oil seeds and pulses follow, securing USD 221 million and USD 150 mln respectively

The young but promising sector, flower business which Ethiopia hopes to take over coffee’s ever record in few years has also brought substantial income fetching USD 112 million.

Ethiopia’s export revenue forecast for the budget year was 1.7 bln USD though it has seen a 13% short of target at this point.

Germany, Saudi Arabia, USA and other EU nations were reported to be the biggest importers of Ethiopian products.

Neighboring Sudan and Somalia are also reported as the two top importers of the continent.

(ST)