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Revenue from the export of coffee showed a 13.1 percent growth in the past seven months aided by an increase in the supply of Ethiopia’s flagship export item to the international market.
Ethiopia exported over 101 thousand tons of coffee over the period, registering a 59 percent increase in supply compared to the same period of the last budget year, a performance report from the Ministry of Trade (MoT) revealed.The increase in output helped the country counter the effect of the persistent decline in the international price for coffee. The fall in price is due to a decline in demand compounded by an increase in the global supply of coffee, which has shown a 7.3% increase from last year, according to data from MoT.
Coffee earned the nation over 398 thousand USD in the past seven months, maintaining its position as the country’s leading export item, followed by gold (351,557 USD), according to the report. The revenue from coffee is over 46 thousand USD more than the revenue obtained during the same period last year.
The Ministry of Trade has announced revenues of 1.7 billion USD from overall export in seven months of the current budget year.
(Walta Information Center)