ADDIS ABABA, May 4 (Xinhua) -- Ethiopia's Prime Minister Abiy Ahmed has announced that the country is on track to achieve a "historic milestone" of 10 billion U.S. dollars in annual export revenue during the current fiscal year.
Speaking at a high-level event in the country's capital, Addis Ababa, on Sunday, Abiy highlighted that the projected annual export revenue of 10 billion dollars for the 2025/2026 fiscal year, which began on July 8, 2025, is estimated to nearly triple the country's annual export earnings from three years ago.
The prime minister attributed the sector's "remarkable progress" to positive growth trends in manufacturing in recent years, aligning with the country's economic strategy of boosting exports while reducing reliance on imported goods through enhanced domestic production.
He further emphasized the sector's "significant contribution" to conserving much-needed foreign currency, noting that the country has saved over 14.5 billion dollars through import substitution over the past four years, as part of ongoing efforts through the national flagship "Made in Ethiopia" campaign.
Highlighting that the East African country's economy is projected to grow by 10.2 percent during the current fiscal year, Abiy emphasized that successes in the manufacturing sector are further propelling the country's economic growth trajectory.
Since the "Made in Ethiopia" campaign was launched about four years ago, approximately 993 previously closed industries have resumed operations, while 3,680 new investors entered the manufacturing sector, Abiy said, noting that this has significantly boosted export revenue, created jobs, and expanded the country's industrial capabilities.
Ethiopia's export sector has witnessed notable growth in recent years, as the country posted 8.3 billion dollars in revenue from the sector last fiscal year, which marked a 115.8 percent increase compared to the prior year, according to official data.
In early April, the Ethiopian Ministry of Trade and Regional Integration disclosed that the country had generated 6.76 billion dollars in export revenue in eight months, driven by strong performance across key export sectors. ■