Somalia Becomes Top Buyer of Ethiopia’s Exports

The top three buyers in total purchased over $1 billion of the total exports Ethiopia traded during the year, amounting to almost 28 percent of the $3.62 billion Ethiopia earned from exports.

Warar Keydmedia Online
Somalia Becomes Top Buyer of Ethiopia’s Exports

ADDIS ABABA - Somalia has become the top destination for Ethiopia's exports during the fiscal year that ended on July 7, 2021, nudging the Netherlands to the second-largest importer of Ethiopian products.

Somalia has bought $347.83 million worth of Ethiopian products during the year (over 9.6 percent of the total amount of exports), according to the Ethiopian Ministry of Trade and Industry, the highest amount of 136 countries that bought Ethiopia's products.

Prior to that, Somalia was the third-largest importer of Ethiopian commodities, cashing $298.2 million for imports from Ethiopia the previous year, when the Netherlands was the top buyer of Ethiopian products with $320.16 million, 10.5 percent of total exports that year.

In the recently concluded fiscal year, Ethiopia has registered a record-high over $3.62 billion earnings from export.

The second and third largest importers of Ethiopian products during the year were the Netherlands and the USA, purchasing Ethiopian products worth $344.94 million (9.5 percent of exports), and $320.16 million (8.84 percent of exports), respectively.

The top three buyers in total purchased over $1 billion of the total exports Ethiopia traded during the year, amounting to almost 28 percent of the $3.62 billion Ethiopia earned from exports.

The other top buyers of Ethiopian exports in the top ten are Saudi Arabia ($226.6 million or 6.26 percent), United Arab Emirates ($191.93 million or 5.28 percent), Germany ($154.47 million or 4.27 percent). Djibouti ($137.47 million or 3.8 percent), Belgium ($104.23 million or 2.88 percent), India ($88.72 million or 2.45 percent), and Sudan ($88.19 million or 2.43 percent), respectively.

The top ten destinations of Ethiopian exports have purchased over 55 percent of the country's exports in total.

2Merkato/Ethiopia

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