Ethiopia has exceeded its export revenue goals, generating over $1.5 billion during the first quarter of the 2024/2025 fiscal year, the Ministry of Trade and Regional Integration announced Thursday.
According to the Ethiopian News Agency, this revenue marks a 132 per cent achievement of the initial target set for the quarter, which began on July 8.
The ministry highlighted that the recent quarter brought “remarkable improvement” in export volume and value.
The $1.5 billion total revenue reflects a substantial increase, with earnings up by more than $700 million compared to the same period last year.
The Ministry attributed the success to strong partnerships with exporters and stakeholders across various sectors, underscoring these relationships as pivotal to bolstering the East African nation’s export performance.
This achievement aligns with Ethiopia’s broader economic goals.
In June, the government announced an economic growth target of 8.3 per cent for the fiscal year, fueled by positive projections in agriculture, manufacturing, mining, and other key sectors.
Ethiopia, with a population of approximately 126.5 million, is the second most populous country in Africa and has remained one of the fastest-growing economies in the region, according to the World Bank.
Despite significant growth over the last decade, Ethiopia remains among the world’s poorest nations, though it aims to attain lower-middle-income status by 2025.
The recent export revenue surge is seen as a step toward this ambitious economic transformation.
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