Trade Minister: Major Export Items Performance Low


Trade Minister: Major Export Items Performance Low


Trade Minister: Major Export Items Performance LowAddis 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 ton coffee.

Low accessibility of trade centers, lack of strong control mechanism against illegal traders and quality problems are the major factors for reduction of export amount.

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 said.

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.


source ENA

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