Ethiopia Misses Export Targets By Wide Margin
January 26, 2019 (Ezega.com) - Ethiopia has missed export targets by wide margins, according to the Ministry of Trade and Indutry (MoTI) report.
According to the Minister of Trade and Industry, FetleworkGebregziabher, Ethiopia missed the export target of USD 1.96 billion by miles, realizing only 62 percent (USD 1.21 billion) of that target.
According to Fetlework, Ethiopia’s export performance was USD 135 million less than what it had been in the previous year, the same report period. The minister raised specific items such as Khat and Tantalum that fetched better export revenue, at least higher thanw hat was initially expected.
Many facctors are said to have contributed to the shrp decline, including contraband trade and the extended security crisis the country is facing.
In a six month report presented to the House of Peoples’ Representatives (HPR) and the concerned Standing Committees, the Ministry of Trade and Industry (MoTI), Industrial Parks Corporation and the Ethiopia Road Authority (ERA) have reported a shocking performance downturn in the past six month in their respective sectors and subsectors.
The combined underperformance in various sectiors is expected to drive the nation’s economic growth rates to levels unseen in recent years.