ADDIS ABABA, Jan. 1 (Xinhua) -- Ethiopia has generated some 2.63 billion U.S. dollars in export revenue during the first five months of the current fiscal year amid strong performance in major agricultural export commodities, the country's Ministry of Trade and Regional Integration has disclosed.
The ministry said in statement issued Wednesday the export revenue registered about 138.93 percent of the initial target set for the first five months of the current Ethiopian 2024/2025 fiscal year, which started on July 8.
The East African country exported about 612,499 tonnes of commodities to the international market, eventually earning 2.625 billion dollars in the reported period, up by 102.09 percent compared to the same period last fiscal year, according to the ministry.
The ministry said agricultural commodities secured the largest share of the total export revenue, accounting for 50.42 percent during the reported period, followed by mining exports with 39.7 percent, manufacturing sector with 5.55 percent, and the export of electricity and other products accounting for 4.31 percent of the revenue.
The Ethiopian government has recently attributed the increase in the export of major agricultural commodities to the comprehensive economic reform and various enabling initiatives.
In October 2024, Ethiopia's Prime Minister Abiy Ahmed announced an 8.4 percent economic growth target for the current fiscal year amid positive prospects in the agricultural, manufacturing, mining, and other major economic sectors.
According to the World Bank, Ethiopia, the second most populous nation in Africa after Nigeria with about 126.5 million people, is one of the fastest-growing economies in the region.
