Ethiopia exported a record-high 3.6 billion dollars worth of goods during the just-ended fiscal year. It is over half a billion dollars higher than the amount registered during the 2019/20 financial year and the highest in the history of the country.
Export proceeds of the country never surpassed three billion dollars since 2012. The latest increase has been driven by the surge in exports gold and coffee and registered despite the war in Tigray, which has forced the country to lose at least 150 million dollars in export revenue.
The government has been taking different measures to boost the international competitiveness of the country. Birr has been deperciated by as much as 20 percent annually since Prime Minister Abiy Ahmed (PhD) took power, while his predecessor, Hailemariam Desalegn once devalued the currency by 15 percent to promote exports and discourage imports.
Ethiopia imports around 14 billion dollars worth of goods annually.