Ethiopia has recorded a historic surge in export revenues, earning 7.21 billion U.S. dollars in the first eleven months of its 2024/2025 fiscal year, according to the Ministry of Trade and Regional Integration. This figure represents a 57 percent increase over the government’s initial forecast of 4.59 billion dollars for the reporting period, and a substantial rise of 3.96 billion dollars compared to the same period in the previous fiscal year.
The announcement was made by Minister Kassahun Gofe during the presentation of the ministry’s performance report to the House of Peoples’ Representatives, Ethiopia’s lower parliamentary chamber. The robust export figures were attributed to the outstanding performance of key sectors, namely mining, agriculture, and manufacturing.
Data disclosed by the ministry indicate that the mining sector surpassed its export revenue target by an impressive 425 percent, while the agriculture sector achieved 118 percent of its anticipated earnings. The manufacturing sector also exceeded expectations, registering 57 percent growth over its export target. These performances are being viewed as tangible indicators of the country’s evolving economic landscape and the dividends of structural reform.
The East African nation has been undergoing a series of sweeping economic reforms aimed at enhancing its competitiveness in global markets and fostering sustainable growth. The government has cited these reforms — including the liberalisation of key sectors, trade facilitation improvements, and enhanced infrastructure — as instrumental to the current export success.
Minister Gofe also provided an update on Ethiopia’s accession process to the World Trade Organization (WTO), describing the process as “progressing well,” although he did not specify a definitive timeline. Ethiopia’s application to join the WTO dates back to 2003, and recent signals suggest renewed commitment to aligning national regulations with international trade norms.
Ethiopia’s broader economic trajectory remains optimistic. According to Prime Minister Abiy Ahmed, the country’s economy is projected to grow by more than 8.4 percent in the current fiscal year, reinforcing Ethiopia’s position as one of the fastest-growing economies on the African continent.
The export performance not only highlights the country’s increasing integration into global trade networks but also underscores the potential of resource-rich developing nations to transition toward export-led growth strategies when supported by coherent policy measures and investment in sectoral development.
As Ethiopia continues to implement its national ten-year development plan — which aims to transform the country into a middle-income economy by 2030 — these recent achievements provide critical momentum. Sustaining such performance, however, will likely depend on continued stability, institutional strengthening, and strategic investment, particularly in export-enabling infrastructure and value-added production.
