What are the main commodities traded in Ethiopia?
Yearly Trade During the last five reported years, the exports of Ethiopia have increased by $1. B from $2. B in 2018 to $3. B in 2023. The most recent exports are led by Coffee ($1. B), Dried Legumes ($334M), Other Oily Seeds ($271M), Cut Flowers ($258M), and Gold ($232M). The top three import commodities were: Mineral fuels, oils, distillation products; Machinery, nuclear reactors, boilers and Electrical, electronic equipment. Total Exports were valued at US$2. Billion. In 2023, Ethiopia had a trade deficit of US$14. Billion. Base metals not specified elsewhere, cermets.The top Ethiopia trading partners are Saudi Arabia, the United States, the Netherlands, the United Arab Emirates, Somalia India. As per the Ethiopia import export data, Ethiopia’s trade deficit shows a sizable trade deficit.In 2021—the most recent year in which United Nations COMTRADE data is available—Ethiopia’s major goods exports included coffee (27%), gold (15%), oil seeds (9%), vegetables (7%), flowers (5%) and legumes (5%).Ethiopian coffee is celebrated globally for its wide range of unique and diverse flavor profiles. It is exported primarily to Saudi Arabia, the United States, Germany and Japan.
What is Ethiopia’s biggest export?
Ethiopia main exports are gold (21 percent of total exports) and coffee (19 percent). Others include: live animals, oilseeds, flowers and khat. Ethiopia main export partner is Switzerland (21 percent of total exports) mainly for export of gold. In 2023, the top imports of Ethiopia were Refined Petroleum ($2. B), Mixed Mineral or Chemical Fertilizers ($700M), Raw Sugar ($667M), Cars ($653M), and Gas Turbines ($586M). The top origins were China ($5. B), Djibouti ($3. B), India ($1. B), Kuwait ($1. B), and Saudi Arabia ($1. B).
Why is Ethiopian coffee so expensive?
High-Quality Standards: The meticulous process of handpicking, sun-drying, and natural processing contributes to its exceptional taste but also adds to the cost. Limited Yields: Unlike mass-producing coffee nations, Ethiopia’s production is smaller in scale, making its coffee a rare and valuable commodity. Ethiopian Yirgacheffe is not just any coffee. It’s a premium specialty coffee that is renowned for its complex, aromatic profile and is a top choice for coffee connoisseurs worldwide.
Who is the largest importer of Ethiopian coffee?
He emphasized the significance of coffee in Ethiopian culture and its role in connecting people globally. Recent data shows that China has become the largest importer of Ethiopian coffee, with flavors ranging from winy to fruity and chocolaty. Ethiopia’s exports are almost entirely agricultural. Coffee is the primary foreign-exchange earner; other exported products include khat, hides and skins, live animals, oilseeds, and gold.
How many millionaires are in Ethiopia?
While the process is still ongoing, the reforms have attracted foreign direct investment. In 2015, Ethiopia has 2,700 millionaires, a number that has more than doubled since 2007. Their fortunes are mainly built-in niches of economic rents (banks, mines, etc. With about 126. Ethiopia is the second most populous nation in Africa after Nigeria, and one of the fastest-growing economies in the region, with an estimated 8. FY2023/24. However, it also remains one of the poorest, with a per capita gross national income of $1,020.Ethiopia’s economy is based on agriculture, which accounts for 46% of GDP and 85% of total employment.With about 126. Ethiopia is the second most populous nation in Africa after Nigeria, and one of the fastest-growing economies in the region, with an estimated 8. FY2023/24. However, it also remains one of the poorest, with a per capita gross national income of $1,020.