Capital Ethiopia Newspaper

Export target missed by 25 percent despite improvements

Ethiopia earned about USD 1.14 billion from exports in the five months period of the current fiscal year 2011/12.  This was down by one fourth from the government’s target of earning USD 1.5 billion from exports.
The government only achieved revenues beyond targets in five sectors out of the 29 total items that the country exported in the stated period.
The major exports which reached beyond targets included Honey, Tantalum, minerals (excluding Gold and Tantalum), and Livestock.
Next in line were exports which met 99 to 50 percent of the projected plan with flour and food exports, hair oils, coffee, chat, leather and leather products, beverages, packaged spices, gold, flowers, oil seeds, textiles, spices, wax, veterinary products and natural gum and incense meeting the above targets in descending order.
However several items were below the government’s target by less than 50 percent including: vegetables and fruits, meat, packaged fruit products, cereals, empty capsules, tea leaves, eucalyptus and products of oil seeds.
Although the government failed to reach its targets of USD 1.5 billion  worth of exports by one fourth it was still up 25 percent from the same period last year when it only earned just above USD 916 million.
Coffee in recent years has seen its contribution ratio to exports decline. However, it was still the single largest export commodity earning USD 288.2 million in the five month period, followed by gold exports at USD 209.5 million, and Chat which earned the country USD 110.5 million from exports.
The failure to meet the target was partly exacerbated by November exports’ data that showed only USD 190.6 million earning out of a total target of USD 330.3 million or just under 58 percent of the overall target.
However November’s exports were still higher by more than USD 40 million from the same period of last year’s exports or registered a 26.7 percent increase.
The Ethiopian Government in the 2011/12 Ethiopian Fiscal year has targeted just above USD 4.7 billion  income from exports.