Trade Minister: Major Export Items Performance Low
Addis Ababa July 15/2014 The
Ministry of Trade said amount of major export items and revenue secured from
foreign trade in 2006 budget year was not as expected.
While reviewing the performance of foreign trade during the budget year, the
State Minister Yakob Yala said the performance of major export items such as
coffee and live animals is low.
The performance of coffee, which has the lion's share of the country's foreign
currency earnings, was 70 pct of the targeted one billion USD.
Amount of coffee exported during the reported period was also 139,000 tons
below the target, Yakob said. The nation had set target to export 389,000
Low accessibility of trade centers, lack of strong control mechanism against
illegal traders and quality problems are the major factors for reduction of export
The drought in Brazil and reduction of output in Central America creates a good
opportunity for Ethiopian coffee. But the low performance of the first
eight months of the budget year has its impact on the overall performance, he
Despite activities for the timely supply of coffee to market and modernizing
the trading system, the government is unable to remove the risk of illegal
trading, the Minister said.
Low production of sesame in the main sesame producing countries such as India and
China helped Ethiopia for increased sesame export, he said.
The country managed to increase sesame amount exported during the reported
period by mobilizing producers, suppliers and exporters to supply their
products on time, to utilize this situation. Because of this, performance of
sesame exceeded from coffee, he added.
The nation envisages to increase the share of foreign trade in the GDP to reach
15.6 percent and revenue earnings to eight billion, at the end of the first
growth and transformation plan period, to be concluded at the end of the
current fiscal year.