Ethiopia earns 500 mln USD from manufacturing industry exports in past fiscal year-Xinhua

Ethiopia earns 500 mln USD from manufacturing industry exports in past fiscal year

Source: Xinhua| 2022-07-14 00:47:45|Editor: huaxia

ADDIS ABABA, July 13 (Xinhua) -- Ethiopia generated about 500 million U.S. dollars in export revenue from the manufacturing industry sector during the just-concluded Ethiopian 2021/22 fiscal year that ended on July 7, the country's Ministry of Industry has disclosed.

The revenue marked a 100 million U.S. dollars increase as compared with the previous Ethiopian 2020/21 fiscal year, state-affiliated Fana Broadcasting Corporate (FBC) quoted Melaku Alebel, Ethiopia's Industry Minister, as saying Wednesday.

Despite promising growth registered in Ethiopia's manufacturing sector recently, the sector is, however, struggling due to lack of adequate supply, challenges associated with infrastructure deficit, lack of trained manpower as well as financial constraints.

Meanwhile, Alebel has called on stakeholders to exert concerted efforts to find lasting solutions in addressing the challenges affecting the East African country's manufacturing industry sector.

On Sunday, the Ethiopian government disclosed a record 1.4 billion U.S. dollars revenue from the exports of coffee during the just-concluded Ethiopian fiscal year.

The East African country exported 300,000 metric tons of coffee during the last 12 months, eventually generating 1.4 billion U.S. dollars in revenue, Ethiopia's Agriculture Minister Oumer Hussien said Sunday.