Ethiopia is on the cusp of a historic export milestone, with Prime Minister Abiy Ahmed announcing projected export revenues of $10 billion—more than triple the amount the country earned just three years ago. Speaking at the “Made in Ethiopia” Expo, Prime Minister Abiy Ahmed credited the surge to the country’s expanding industrial sector and a national strategy focused on boosting exports while reducing reliance on imports. According to Abiy, Ethiopia has generated approximately $14.5 billion in import-substitute goods, attracted over 2,800 domestic and foreign investments, and boosted average production capacity utilization from 47% to 67% over four years. To further decouple the nation from import dependency, the government has designated 96 specific products for domestic manufacturing. Underpinning all of this is a 10.2% economic expansion driven by agriculture, mining, manufacturing, tourism, and technology—positioning Ethiopia as one of Africa’s most dynamic emerging economies.
Business Insider Africa
