Recently, according to the latest report released by the Ethiopian Ministry of Trade, in the past fiscal year (2013/2014), China replaced Somalia as Ethiopia’s largest export destination. In the last fiscal year, Ethiopia’s exports to China were approximately US$447 million, accounting for 13.7% of the country’s total exports. In terms of varieties, sesame and other oil crops are the main export varieties, with a value of approximately US$382 million; leather and textile products are second, and exports to China are also relatively good, reaching US$30 million and US$8.7 million respectively.
The Ethiopian government’s export target for this fiscal year is US$5 billion. It is worth noting that with the entry of foreign investors, the export of industrial products has developed rapidly. The shoemaking industry has become a new highlight of Ethiopian exports, with a year-on-year growth of 57.1% in the last fiscal year, reaching US$28.7 million. The development of the textile industry is also relatively optimistic, with a year-on-year growth of 13.4%, reaching US$110 million. As Ethiopia’s industrialization process accelerates, the export volume of the industrial sector is expected to increase in both volume and price in the future. Ethiopia’s Trade Ministry said it will take more measures to stimulate exports this fiscal year.
