By African Demystifier
Cattle illicit trading to neighboring countries is one of Ethiopia’s economy challenges
Addis Ababa (February 13, 2013) – The Ministry of Trade and Regional Integration of Ethiopia announced that the country has achieved only 76 percent of its export earnings target during the six months of this Ethiopia fiscal year.
Minister of Trade and Regional Integration, Gebremeskel Chala attributed the low performance to the huge smuggling of agricultural commodities to neighboring countries.
This announcement came today during the Ministry’s half-year performance evaluation discussion forum.
According to the Minister, the country secured over 1.75 billion USD from foreign trade in the just ended half-year where Ethiopia earned 77.23 per cent of the foreign currency earned from exports is from agricultural commodities while 10 per cent was collected from the manufacturing sector, 6.62 per cent from the mining sector, 2.9 per cent from dairy and meat exports and 2.9 per cent from the sale of electric power.
When it comes to cash 1.3 billion US dollars was obtain from agriculture, 176.7 million from the manufacturing industry, 50.2 million from dairy and milk, 116.511 million from the mining sector, 57.35 million dollars from electricity among others.