Ethiopia’s H1 exports increase but miss target

March 4, 2011

Officials had set a goal of $1.29 billion in revenue for the first half of the financial year, but its earnings by the end of the period met 86 percent of that at $1.11 billion.

Coffee earnings in Africa’s biggest exporter of the beans hit $320 million from the export of 95,102 tonnes, compared with a target of 105,793 tonnes, or $328 million in sales, according to the ministry of trade.

The country targets $939.5 million in coffee exports this year, nearly double the $528 million it earned during the 2009/2010 fiscal year.

Flower exports during the first half missed a target of $100.9 million, earning $76.5 million.

Investments into the sector have increased in recent years with incentives such as tax holidays, 35-year leases for land, and relatively low rates for renting land attracting increasing amounts of foreign businesses.

Exports of oil seeds also missed the target, hitting $102.8 million instead of $133.8 million for the period. Ethiopia is the world’s fourth-largest sesame exporter after China, India and Myanmar.


Gold exports overtook oil seeds as the second largest source of revenue during the first six months with exports topping $179 million, exceeding a target of $158 million.

The country has made $450.5 million from about 48 tonnes of gold exports in the last 10 years, according to the central National Bank of Ethiopia.

Ethiopia’s exports during the half-year period were also boosted by the rising sales of khat, a narcotic leaf popular in the region.

The commodity brought in $126 million in exports during the first six months of 2010/2011, beating a target of $119.6 million. Khat exports fetched $209 million the whole of last year.