Ethiopia witnesses export growth over last three years

Ethiopia said Thursday it has registered a significant growth in the export sector over the last three successive years.

Girma Birru, minister of trade and industry, told journalists that the country's overall export growth, which was 10.7 percent three years ago, has reached 33 percent during the last Ethiopian budget year (July 2004-June 2005).

Some 793.2 million U.S. dollars were obtained from various export products during the last Ethiopian budget year, Girma said.

The export trade has already registered a 32 percent growth in just the seven months of the current Ethiopian budget year (July 2005-June 2006), the minister added.

Over 473 million dollars have been secured in the past seven months, he said.

Girma said cereals and oil seeds account for the highest share, enabling the country earn 138.6 million dollars in the reported period.

Other export products that have significant share next to cereals and oil seeds are coffee, khat, leather and leather products as well as live animals, he said.

The country has been diversifying export products, thus products like flower, leather products and various liquors contributed a significant share in the export sector, Girma said.

Ethiopia is an overwhelmingly agricultural country, with farm products accounting for over half of the country's gross domestic product (GDP) and 90 percent of its exports.

Source: Xinhua