23 February 2018

Ethiopia: Asia Maintains Largest Destination for Ethiopian Export

Asia has maintained being the largest export destination for Ethiopian export commodities, with 42 percent of the total volume followed by Europe and Africa during the past six months, according to Ministry of Trade.

All the continents maintain the last two-year's position during the past six months namely Asia, Europe, Africa, America, and Oceania from first to fourth respectively, according to the ministry.

Asia accounted for over 561.37 million USD followed by Europe 366.43 million USD, Africa 280.93 million USD and Americas close to 108.99 million USD while the rest is covered from Oceania.

Senior Communication Expert at the Ministry, Shimelis Arega told ENA that the successive promotion of the country's export products for the emerging Asian markets at the international trade fairs, exhibitions and conferences including the one which has been held in Ethiopia have been played the major role for the achievement.

Providing value added goods to Asian market including finished product of coffee and sesame alongside keeping the quality of commodities from production to the packaging process is the other major factor, Shimelis elaborated.

Foreign investors engaging in coffee, sesame and spices productions have also contributed for the increase in quality, it was indicated.

China leads as Ethiopia's largest export destination in Asia, buying 144.5 million USD of goods and services from the East African country in the past six months.

Ethiopia's export to China in the first six months of the Ethiopian Fiscal Year, accounted for 17.3 percent from the total export earnings overtaking Somalia, which now accounts for 14.32 percent.

According to reports in 2010, Switzerland was top on the list replacing China, which was the leading importer of Ethiopian goods over the past few years.

During the period Switzerland was at the top of the list having bought 224 million USD of goods from Ethiopia compared to the 215 million US dollars bought by China and the 196 million USD bought by Germany.

In Africa the largest export markets for Ethiopia include Somalia, Sudan, and South Africa, with each buying 172 million USD, 115 million USD, and 74 million USD Ethiopian products respectively.

The Netherlands, UAE, and the United States were among the top 10 destinations of Ethiopian during the period.

The country has earned 1.35 billion USD from exports in the first half of the current fiscal year which shows 61.2 percent of the target for the stated period.

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