Synopsis
Ethiopia has reported a significant revenue of $1.36 billion from gold exports in the first half of the fiscal year 2024/2025, achieving an overall export revenue of $3.28 billion. The government emphasizes the need for increased productivity in key sectors, including agriculture and mining, to further boost earnings and meet growth targets.Key Takeaways
- Ethiopia earned 1.36 billion USD from gold exports.
- Total export revenue reached 3.28 billion dollars.
- Gold accounted for the largest share of exports.
- Export revenue exceeded initial targets by 145 percent.
- Government aims for 8.4 percent economic growth this fiscal year.
Addis Ababa, Jan 24 (NationPress) Ethiopia has announced a remarkable revenue of 1.36 billion US dollars from gold exports in the last six months.
Discussing the notable export achievement during the first half of the Ethiopian fiscal year 2024/2025, which commenced on July 8, the Minister of Trade and Regional Integration, Kassahun Gofe, stated that the nation has demonstrated robust performance in key export products, particularly gold.
As reported by the minister, Ethiopia's total export revenue reached approximately 3.28 billion dollars in the prior six months, with gold exports accounting for the largest portion, contributing 1.36 billion dollars during this timeframe.
Ministry data indicated that the overall export revenue achieved around 145 percent of the initial target for the reported period.
Emphasizing Ethiopia's vast potential in significant export commodities, the minister underscored the necessity of improving the country's productivity and enhancing export revenues.
In addition to an agriculture-driven economy, coffee remains a significant export for the nation, as reported by Xinhua news agency.
Recent statistics from the Ethiopian Coffee and Tea Authority revealed that the nation secured 908 million dollars from coffee exports in the past six months, exporting over 200,000 tonnes of coffee to the global market.
With optimistic forecasts for the agricultural, manufacturing, mining, and other vital economic sectors, the Ethiopian government set an 8.4 percent economic growth target for the current fiscal year in October 2024.