https://en.sputniknews.africa/20241026/ethiopia-reportedly-exceeds-export-revenue-goals-reaching-15-bln-in-first-quarter-of-current-fy-1068897599.html
Ethiopia Reportedly Exceeds Export Revenue Goals, Reaching $1.5 Bln in First Quarter of Current FY
Ethiopia Reportedly Exceeds Export Revenue Goals, Reaching $1.5 Bln in First Quarter of Current FY
Sputnik Africa
Ethiopia, with about 126.5 million people, is one of Africa's fastest-growing economies, according to the World Bank. However, since 2018, it has faced... 26.10.2024, Sputnik Africa
2024-10-26T16:45+0200
2024-10-26T16:45+0200
2024-10-26T16:46+0200
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Ethiopia’s Ministry of Trade and Regional Integration announced that the country has exceeded its quarterly export revenue target, generating over $1.5 billion in the first quarter of the 2024/2025 fiscal year, according to the Ethiopian News Agency.This amount represents 132% of the initial revenue goal, highlighting significant growth in the country’s export performance.The reported earnings reflect a substantial increase of over $700 million compared to the same period last year, which the ministry described as a “remarkable improvement” in export volume and value. Officials attributed this growth to enhanced cooperation with sector stakeholders and exporters across industries, a key factor in achieving the strong results.The government’s target of 8.3% economic growth for the current fiscal year is driven by promising developments in agriculture, manufacturing, and mining, alongside other core sectors.
https://en.sputniknews.africa/20241023/ethiopia-to-maintain-high-interest-rates-to-curb-inflation-amidst-currency-reforms-central-bank-1068829548.html
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ethiopia, east africa, agriculture, mining, economy, economic growth
ethiopia, east africa, agriculture, mining, economy, economic growth
Ethiopia Reportedly Exceeds Export Revenue Goals, Reaching $1.5 Bln in First Quarter of Current FY
16:45 26.10.2024 (Updated: 16:46 26.10.2024) Christina Glazkova
Writer / Editor
Ethiopia, with about 126.5 million people, is one of Africa's fastest-growing economies, according to the World Bank. However, since 2018, it has faced multiple challenges, including natural disasters like droughts and floods, locust infestations, the Tigray conflict, and the COVID-19 pandemic.
Ethiopia’s Ministry of Trade and Regional Integration announced that the country has exceeded its quarterly export revenue target, generating over $1.5 billion in the first quarter of the 2024/2025 fiscal year, according to the Ethiopian News Agency.
This amount represents
132% of the initial revenue goal, highlighting
significant growth in the country’s export performance.
The reported earnings reflect a substantial increase of over $700 million compared to the same period last year, which the ministry described as a “remarkable improvement” in export volume and value. Officials attributed this growth to enhanced cooperation with sector stakeholders and exporters across industries, a key factor in achieving the strong results.
The government’s target of 8.3%
economic growth for the current fiscal year is driven by promising developments in agriculture, manufacturing, and mining, alongside other core sectors.
