Ethiopia Earns $8.2 Billion in Export Revenues, Prime Minister Reveals Significant Foreign Exchange Gains

Prime Minister Abiy Ahmed (PhD) announced that the export revenues reached a record $8.2 billion in the 2024/25 fiscal year, surpassing the government’s original projection of $5.1 billion. The announcement was made during the 42nd regular session of the Parliament.

According to the Prime Minister, this figure marks a near tripling of the export income recorded in the 2023/24 fiscal year and is being hailed as a reflection of the country’s ongoing structural reforms in trade and macroeconomic governance.

In addition to merchandise exports, remittances climbed to $7 billion, foreign direct investment (FDI) reached $4 billion, and service exports, including aviation and logistics, contributed another $8.2 billion to the national coffers.

Prime Minister Abiy highlighted that the cumulative foreign exchange earnings, totaling $32 billion, represent a 33 per cent increase from the $24 billion recorded in the previous fiscal year. He attributed the growth to enhanced economic coordination, improved competitiveness, and aggressive reforms targeting export diversification and investment promotion.

“This is a practical confirmation that the reforms we have implemented are yielding results,” Abiy told Parliament, responding to questions about the government’s economic performance during the fiscal year.

The robust performance across exports, services, and investment marks a rare convergence of growth in Ethiopia’s foreign exchange sources—providing a buffer to the country’s chronic trade deficit and strengthening its macroeconomic stability as the government prepares its strategy for the 2025/26 fiscal year.