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Ethiopia export income increases, but still below target

  1. Posted on Saturday 10 April 2010 - 09:32
    Yohanes
    Image of Yohanes
    By ANdualem Sisay
    Ethiopia’s this fiscal year six month export earnings increased by 22 percent as compared to last year's similar period.

    Amid this income increment, the export earning trend statistics obtained from the Ethiopian Revenue and Customs Authority tells that it is still difficult for the country to meet its target of earning over 2 billion USD at the end of the budget year (July 2010).

    The country earned a total of 783 million USD from September 2009 to February 2010, which more by 142 million USD compared to the previous year’s six month period (September 2008 to February 2009).

    More foreign exchange earning is observed in the month of February 2010 as compared to February 2009, reported newbusinessethiopia.com. The east African nation exported agricultural products and minerals worth 184 million USD in February 2010, which more by 40 million USD than it earned in February 2009.

    Meanwhile, when compared on month to month bases, the income growth was not growing constantly. The earning of the country for September 2009 for instance was less than that of September 2008 by 13 million USD, while the income for January 2010 was almost equal to that of January 2009.

    Even though the government has been vowing to increase export earning of the country significantly for the past three years, statistics shows that the growth is not as expected.

    The total annual export income of the country has been revolving around one and half billion USD for the past few years.

    Government’s ambitious plan for the fiscal year ended July 2009 was to export products worth two and half billion USD, which is more by one billion USD from the previous budget year earning.

    This year’s statistics and monthly export trend also shows that it will be difficult for Ethiopia to meet its target of exporting products worth over two billion USD at the end of this budget year (July 2010).

    The global financial crises, which led to demand decline was often mentioned by the government as among the reasons for the failure of the country to boost the export as planned.


    Ethiopia export income increases, but still below target

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