Ethiopia is forecasting a major increase in export revenue, with earnings projected to reach around $10 billion by the end of the current fiscal year, according to Prime Minister Abiy Ahmed. This marks a substantial rise from less than $3 billion recorded three years ago.
The announcement was made during the 4th “Made in Ethiopia” Expo, where officials highlighted the country’s ongoing industrial transformation and efforts to strengthen domestic production under the national “Made in Ethiopia” initiative.
The government attributes the projected growth to rapid expansion in the industrial sector, alongside policies aimed at boosting local manufacturing and reducing reliance on imports.
Authorities report that Ethiopia has generated approximately $14.5 billion worth of import-substitution goods over the past four years, with plans underway to further increase this figure in the coming period. The strategy focuses on expanding domestic production capacity across key sectors.
Officials also point to increased investor confidence, noting the entry of more than 2,800 domestic and foreign investments over the last four years. At the same time, industrial production capacity utilization has reportedly improved from 47% to 67%, reflecting stronger operational efficiency across manufacturing facilities.
In addition, the country has saved an estimated $4.85 billion in foreign exchange through import substitution in the first nine months of the current fiscal year, according to government figures.
As part of its broader economic strategy, Ethiopia has identified 96 products for local manufacturing, including targeted development of industries such as ceramics. The aim is to strengthen self-reliance while expanding export competitiveness.
Prime Minister Abiy Ahmed also noted that Ethiopia’s overall economic growth is currently estimated at 10.2%, supported by performance in agriculture, mining, manufacturing, tourism, and technology sectors.
He emphasized that the country’s development trajectory reflects ongoing structural reforms designed to strengthen production capacity and expand export-led growth.
Ethiopia’s recent economic indicators point to a transition toward a more industrially driven economy, with increasing emphasis on local production and export expansion.
