Ethiopia’s Manufacturing Exports Reaches $500 Million

ADDIS ABABA – Ethiopia’s manufacturing products export has generated 500 million USD revenue in the concluded 2021/22 fiscal year, according to the Ministry of Industry (MoI).

The amount has grown by over 100 million US dollars as compared to the previous fiscal year. 

The 500 million US dollars secured in the just concluded budget year is the highest annual revenue to date, said Industry Minister Melaku Alebel.

The performance was registered despite several challenges related to the COVID-19 pandemic, revocation of Ethiopia from AGOA, security, and forex, according to the ministry.

Last year, the manufacturing sector generated more than 390 million USD, becoming the second top contributor to Ethiopia’s export trade revenue next to agriculture and ahead of mining.

Featured Image Caption: workers at the industrial park [Photo File]

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