Ethiopia sets ambitious export target of $10 billion at the “Made in Ethiopia” Expo
Ethiopia is poised for a remarkable transformation in its export landscape, with Prime Minister Abiy Ahmed announcing a bold projection of $10 billion in export revenue by the end of the current fiscal year. This figure marks a significant leap from less than $3 billion just three years ago, highlighting the nation’s burgeoning aspirations and strategic economic reforms.
The announcement was made during the ongoing “Made In Ethiopia” Expo, which commenced on May 3 and runs until May 7 at the Addis International Convention Center. This event serves as a showcase for local industries and a testament to Ethiopia’s commitment to boosting its production capabilities and export potential.
Taking to X (formerly known as Twitter), Ahmed revealed that the country has generated approximately $14.5 billion in import-substitute goods over the past four years, with plans to double this figure.
“Four Years of Sustained Effort and Measurable Progress,” said Ahmed.
“It is truly an honour to witness the tangible realisation of our national vision at this year’s ‘Made in Ethiopia’ Expo. Our results-driven governance is reflected in unprecedented industrial expansion, highlighted by average production capacity utilisation soaring from 47% to 67%, the attraction of over 2,800 domestic and foreign direct investments over the past four years, and more than $4.85 billion in foreign exchange saved through import substitution in the first nine months of the 2018 fiscal year alone.”
The “Made in Ethiopia” Expo not only reflects the nation’s industrial ambitions but also aims to exemplify local products and offer a platform for Ethiopian entrepreneurs to connect with international investors. The initiative is positioned to bolster the national economy by creating job opportunities and fostering a culture of innovation.