The export value of Ethiopian goods hit a record high of $4.1 billion in the FY 2021–22, an increase of $500 million over the $3.6 billion exported the previous year. The primary markets for these products were:
- Switzerland ($549mn, 13% of total)
- Netherlands ($387mn, 9%)
- the United States ($358mn, 9%)
- Somalia ($343mn, 8%)
- Saudi Arabia ($280mn, 7%), and
- Germany ($279mn, 7%).
All six of these nations bought Ethiopian commodities for at least a quarter of a billion dollars, while seven other nations (the United Arab Emirates, Japan, Djibouti, Belgium, Israel, South Korea, and China) spent at least $100 million on Ethiopian goods. The remaining 27 export destinations in Ethiopia account for only 2% of overall exports, making these 13 nations collectively the nation’s most significant export markets.
Looking at where the near half a billion increase in exports came from this past year, 70% of the rise was accounted for by neighboring Somalia (+132mn, mostly due to chat), Germany (+115mn, mostly coffee) and the Netherlands (+93mn, mostly flowers).
Source: NBE, Cepheus Capital
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