Addis Ababa, Apri; 12, 2024(Addis WAlta) The Ministry of Trade and Regional Integration of Ethiopia (MoTRI) has disclosed a significant milestone in export revenue generation, announcing that a total of 617 million US dollars has been accrued from export products within the first 8 months of the current fiscal year.
This achievement represents 87.51 percent of the targeted revenue goal of 705.15 million dollars for the same period.
Highlighting the key contributors to this success, the ministry identified pulses and oilseeds as the top-performing products in terms of income generation. The growth in this sector has been attributed to various factors including the successful implementation of the contract investment farm policy, a surge in international market demand for soybeans, red plantains, and masho products, as well as an increase in sesame production.
Moreover, the ministry noted that the current revenue figure surpasses the performance of the corresponding period last year by 80.08 million dollars, reflecting a notable 14.91% increase. This positive trend is said to be a testament to the ongoing efforts and strategic initiatives aimed at bolstering Ethiopia’s export sector and enhancing its economic outlook.