4.12 billion dollars were obtained from the export trade through the changes made

Addis Ababa, July21,2022 (MOTRI) In the 2022 fiscal year, 4.12 billion US dollars in export revenue was recorded, the first high result in the sector.

Many efforts have been made to increase the export income of our country during the last years of change. Especially in the last 3 fiscal years, policy, strategy and structural change measures have been taken to stimulate the local economy and increase foreign trade in terms of quantity, type and quality.

 As a result of the measures taken, 4.12 billion US dollars in export income was obtained in the fiscal year 2014, said Kasahun Gofe, Minister of State for Trade Relations and Trade Promotion. The income is 90.3 percent of the plan and it is the first recorded export income in history in terms of the performance of the previous years, he explained in a statement given to reporters.

Our country is facing internal and external challenges and this income showed a growth of 13.81 percent from the income of the previous fiscal year and it means more than income to our country.

In the fiscal year, the agricultural sector accounted for 105% of the total plan, 72% for the industrial sector, 80% for the total plan, 12% for the mining sector, and 14% for the mining sector.

 Ato Kasahun pointed out that the agricultural sector is still the leader of the economy by generating the highest income and a lot of work is required to achieve the goal of structural economic transition.

Underdevelopment of lateral linkages, smuggling trade and slowness of structural economic transition are the problems that are challenging the export business.