Ethiopia is on course to generate about $10 billion in export earnings by the end of the current fiscal year, according to Prime Minister Abiy Ahmed.
The announcement was made at the 4th “Made in Ethiopia” Expo, where he highlighted that the projected figure marks a major improvement compared to three years ago, when export earnings struggled to reach $3 billion.
He attributed the strong growth to the expansion of the country’s emerging industrial base and the progress of the Made in Ethiopia initiative, which has supported local production and export capacity.
Abiy also explained that Ethiopia’s economic strategy has focused on boosting exports while cutting reliance on imports by strengthening domestic manufacturing.
Data from the Ethiopian News Agency shows that the country has produced about $14.5 billion worth of import-substituting goods over the past four years, with plans underway to double that output.
In a post shared on his X account, the Prime Minister described the exhibition as evidence of the government’s development vision becoming reality through industrial progress.
He further noted that production capacity utilisation has improved significantly, rising from 47% to 67%, while more than 2,800 domestic and foreign investments have been attracted over the past four years. He also pointed to $4.85 billion in foreign exchange savings achieved through import substitution in just the first nine months of the 2018 fiscal year.
Additionally, he revealed that 96 products have been identified for local production, with particular emphasis on developing the ceramics industry as part of a wider import-replacement strategy.
Abiy linked the country’s 10.2% economic growth rate to improvements across key sectors such as agriculture, mining, manufacturing, tourism, and technology, which continue to drive Ethiopia’s overall economic expansion.