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Ethiopia is planning to earn a total of over 2.5 billion USD revenue from its exports of agricultural products during the current budget year, Ministry of Trade said.
“The stated amount of revenue will be secured from the export of more than 1.1 million tons of agricultural products,” Abdurahman Seid, Public Relation Deputy Head of the Ministry, said.
He said the products include coffee, oil seeds, cereals, khat, spices, natural gum and incense among others.
“The revenue is projected to surpass by 16.3 percent that of the 2.1 billion USD income earned during the previous budget year,” he added.
The target is taking into consideration the growth of agricultural products, market system efficiency, capacity of the exporters and suppliers of the products, he said.
The biggest export item will be coffee followed by oil seeds, he noted.
According to Abdurrahman, around 862 million USD of the total revenue is expected from the export of coffee, which contributes the lion’s share in the country’s economy.
“The country will also export 362,422 tons of oil seeds and secure over 724.8million USD revenue in this fiscal year,” he added.
Africa’s largest coffee producer, Ethiopia generated some 718 million USD from coffee exports during the 2013/14 financial year.
(Anadolu Agency)