Ethiopia earned over 640 million dollars from exports during the first quarter of 2016, a decline of 6.7pc or 46 million Br from last year.
Authorities claim that this was caused by prices declines in the agricultural, mining and manufacturing sectors. Last year, the country secured 2.8 billion dollars in earnings from exports.
Ethiopia exports to 112 countries, with the top five destinations being Somalia, China, the Netherlands, USA and Germany. Asia has been a major recipient of Ethiopian exports over the past five years. Last fiscal year alone, Ethiopia’s exports to the region totalled more than one billion dollars.
Between the years 2010-2015, the country’s export contribution to GDP averaged 13 pc, exhibiting an average annual decline of 2 pc. Compared with neighbouring countries, Kenya’s and Uganda’s ratios of exports to GDP are around 20 pc and 19 pc, respectively.
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