(Ecofin Agency) - While Ethiopia was expecting $4.32 billion in export revenues for the financial year 2018-19, the country only cashed out $2.67 billion, or 61% of target.
According to the trade ministry, this poor performance is due to smuggling, the fluctuation of global price, poor product quality, as well as instability in some parts of the country.
Among Ethiopia's main export products, tantalum, pulses, oilseeds and floriculture reached more than 75% of the target. Coffee, fish, electricity, textiles and clothing, vegetables and fruit, and tea increased from 50% to 74% of expectation.
In contrast, meat, milk and dairy products, spices, leather products, food and beverages, honey, pharmaceuticals, minerals, live animals, chemicals and construction inputs performed below 50%.
During the period reviewed, Ethiopia mainly shipped its products to the United States, Somalia, the Netherlands, Saudi Arabia, China, the United Arab Emirates, Djibouti, Germany, Japan and Israel.
For the 2019/20 fiscal year, the Ethiopian authorities have set a target of $4.69 billion in export revenue. They set several measures to help achieve the goal. These include: improving the marketing system; making industrial parks operational; developing infrastructure; controlling smuggling; and financing and logistically supporting export-oriented industries.