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Revenue from exports in the first quarter of the current fiscal year has gone down by 10 percent when compared with the same period of the 2012/13 fiscal year. The revenue earned is also 71.4 percent of the target set for the period.
Hard currency earnings in the past three months – July to September – stood at USD 628 million, which is 71.4 percent of the target aimed by the government for the stated period. According to the Ministry of Trade (MoT) report, the target for the first quarter was to earn USD 880.1 million, but decrease in the volume of major export items like coffee and gold has contributed to the decline. The three-month export earnings have not only missed the target, but total earnings from the stated period have also significantly declined when compared with the first quarter of the 2012/13 fiscal year.
Lower results than set targets are not uncommon, but relative growth were generally achieved in the first quarter of previous years, which is not the case this time. A year ago, the country earned USD 698.1 million during the first quarter, which is USD 70.1 million more than the earnings for the same period this year. Coffee export earning is USD 61.9 million shorter than the same period Revenue from exports in the first quarter of the current fiscal year has gone down by 10 percent when compared with the same period of the 2012/13 fiscal year. The revenue earned is also 71.4 percent of the target set for the period.
Hard currency earnings in the past three months – July to September – stood at USD 628 million, which is 71.4 percent of the target aimed by the government for the stated period. According to the Ministry of Trade (MoT) report, the target for the first quarter was to earn USD 880.1 million, but decrease in the volume of major export items like coffee and gold has contributed to the decline. The three-month export earnings have not only missed the target, but total earnings from the stated period have also significantly declined when compared with the first quarter of the 2012/13 fiscal year.
Lower results than set targets are not uncommon, but relative growth were generally achieved in the first quarter of previous years, which is not the case this time. A year ago, the country earned USD 698.1 million during the first quarter, which is USD 70.1 million more than the earnings for the same period this year. Coffee export earning is USD 61.9 million shorter than the same period last year, deeply impacting this year’s first quarter performance. Coffee is the major export item and main hard currency source for the country in past decades, but prices fluctuate in accordance to the demands of the international market, economic state of potential buyers and the volume of harvest by other coffee producing countries.
In the first quarter of the 2013/14 fiscal year, the country earned USD 137.3 million from export of 40,606 tons of coffee. Last year same period, recorded an export of 47,751 tons. Meanwhile, though hard currency earnings from coffee fell, it still remained the biggest earner of foreign currency for the country. Experts indicated that actual yearly revenue from coffee exports will be determined by the volume exported in the coming months. Khat that has become one of the major export item for the country has stood second in terms of hard currency earnings. According to MoT report, 75.3 million dollar was earned from Khat export, which has shown an increment of USD 5.8 million compared to the USD 69.5 million earned in the first quarter of the past fiscal year.
Gold, which has recently become one of the leading export earning commodities for the country stood third earning USD 75.1 million. Still the revenue from gold has declined by USD 57.6 million compared with the same period last year. In the first quarter of 2012/13 fiscal year the country earned USD 132.7 million from gold and was the second foreign currency earner after coffee.
Oil seeds contributed USD 72.5 million to the revenue, showing USD 11.7 million increment compared with last year.
Export of livestock also showed significant growth in the past three months contributing USD 63.8 million in the first quarter of the fiscal year.
Pulses, flower, leather and leather products, and textile and garment on their part earned USD 47.4 million, USD 39.4 million, USD 32.1 million and USD 28.4 million respectively.
According to MoT’s report, the revenue earned from textile and garment has grown by USD 9.7 million and the other manufacturing sector leather and leather products has grown by USD 7.3 million in the first quarter of the current fiscal year, while revenue earned from footwear export has doubled. 
By the end of this fiscal year Ethiopia has targeted to earn USD 5 billion from export revenue