Ethiopia received US$ 2.7 billion in revenue from exports during its just ended financial year.
Although government projected that exports will hit US$ 3 billion during the 2010/11 fiscal year, the figures were described as encouraging by analysts.
Coffee remained the country’s highest foreign currency earner fetching US$840 million. At least US$1 billion had been expected from coffee.
More than half million tonnes of coffee were exported during the period under review.
While government expected the manufacturing sector to generate US$ 353 million only US$ 207.7 million was realised.
According to the Ministry of Trade’s annual report, minerals earned Ethiopia US400 million and the remainder came from other agriculture commodities.
This report will be presented to a foreign trade coordination committee, headed by Prime Minister Meles Zenawi for further discussion on Saturday.
Ethiopia has forecast that its exports will fetch between US$$ 4 billion and US4.5 billion during the 20112012 fiscal year that started in July.
Chinese and Indian investors have taken a keen interest on the Horn of Africa country.
India’s investment is now pegged at US$4.5 billion followed by China with one billion investments.
Understand Africa's tomorrow... today
We believe that Africa is poorly represented, and badly under-estimated. Beyond the vast opportunity manifest in African markets, we highlight people who make a difference; leaders turning the tide, youth driving change, and an indefatigable business community. That is what we believe will change the continent, and that is what we report on. With hard-hitting investigations, innovative analysis and deep dives into countries and sectors, The Africa Report delivers the insight you need.View subscription options