Overview of Ethiopia Trade 2023

The Federal Domestic Republic of Ethiopia between the tropical latitudes of Africa is one of the globally thriving economies of the world. The country has a vast manufacturing sector that contribute to its export mainly focuses on the production of textiles and garments due to its higher global demands. The land area of 1.1 million square kilometers exceeds its borders up to nations like Eritrea, Djibouti, Somalia, and Kenya to the northeast, east, south, and west. The attributing factor towards the boosting economy of the nation is the vast amount of natural resources present there.

 

The trade management authorities of the Ethiopian trades are focused on the trade rate of agricultural products to a wide extent because of their favorable contribution to revenue generation along with the other industrial goods. The agricultural trade value of the year 2023 stands at a rate of 8 billion US dollars, whereas the GDP value stands at 109 billion US dollars followed by an import and export value of 12 billion and 12.5 billion US dollars in 2023 says the Ethiopia Customs Data. The nation holds a population of 115 million which practices Amharic as their official language followed by Oromo.

TOP TRADED COMMODITIES OF ETHIOPIA

The balanced trade rates and the economy of the nation are all because of the sustainable production of necessities as per the domestic and international demands and the import of domestic necessities as per the acquired amount. The top imported and exported commodities of the nation according to the Ethiopia Trade Data are mentioned below,

IMPORTS

• (HS code - 85)Machinery and electrical equipment – The import trade generated value by the import of machinery and electrical equipment in 2023 – 4.6 billion US dollars
• (HS code - 87)Vehicles and parts– The import trade generated value by the import of vehicles and parts in 2023 – 3.5 billion US dollars
• (HS code - 27)Mineral fuels– The import trade generated value by the import of mineral fuels in 2023 – 1.8 billion US dollars
• (HS code - 29)Pharmaceuticals– The import trade generated value by the import of pharmaceuticals in 2023 – 1.5 billion US dollars
• (HS code - 72)Iron and steel– The import trade generated value by the import of iron and steel in 2023 – 1 billion US dollars
• (HS code - 95)Plastics– The import trade generated value by the import of plastics in 2023 – 700 million US dollars
• (HS code - 11)Cereals– The import trade generated value by the import of cereals in 2023 – 500 million US dollars
• (HS code - 39)Rubber products– The import trade generated value by the import of rubber products in 2023 – 400 million US dollars
• (HS code - 29)Organic chemicals– The import trade generated value by the import of in 2023 – 300 million US dollars
• (HS code - 31)Fertilizers– The import trade generated value by the import of fertilizers in 2023 – 200 million US dollars

EXPORTS

• (HS code - 09)Coffee – The export trade generated value by the export of coffee in 2023 – 1.5 billion US dollars
• (HS code - 12)Oil seeds– The export trade generated value by the export of oil seeds in 2023 – 886 million US dollars
• (HS code - 71)Gold– The export trade generated value by the export of gold in 2023 – 505 million US dollars
• (HS code - 52)Khat– The export trade generated value by the export of khat in 2023 – 322 million US dollars
• (HS code - 62)Garments– The export trade generated value by the export of garments in 2023 – 271 million US dollars
• (HS code - 42)Leather Products– The export trade generated value by the export of leather products in 2023 – 209 million US dollars
• (HS code - 07)Fruits and vegetables– The export trade generated value by the export of fruits and vegetables in 2023 – 175 million US dollars
• (HS code - 16)Meat– The export trade generated value by the export of meat in 2023 – 136 million US dollars
• (HS code - 06)Flowers– The export trade generated value by the export of flowers in 2023 – 125 million US dollars
• (HS code - 71)Gems and precious stones– The export trade generated value by the export of gems and precious stones in 2023 – 110 million US dollars

TOP TRADE AGRICULTURAL GOODS

Due to the favorable contribution of agricultural goods in the annual generated revenue of Ethiopia, the country’s trade management authorities are focusing a bit on the agricultural trade. As per the Ethiopia Export Data, the top traded agricultural products with trade values of 2023 are discussed below,

 

• Coffee – The annual total trade value of coffee in 2023 – 2 billion US dollars
• Oilseeds – The annual total trade value of oilseeds in 2023 – 800 million US dollars
• Livestock  – The annual total trade value of livestock in 2023 – 700 million US dollars
• Horticulture products – The annual total trade value of horticulture products in 2023 – 600 million US dollars
• Pulses  – The annual total trade value of pulses in 2023 – 500 million US dollars
• Maize  – The annual total trade value of maize in 2023 – 400 million US dollars
• Fruits – The annual total trade value of fruits in 2023 – 300 million US dollars
• Vegetables  – The annual total trade value of vegetables in 2023 – 200 million US dollars
• Spices  – The annual total trade value of spices in 2023 – 150 million US dollars
• Tea  – The annual total trade value of tea in 2023 – 100 million US dollars

 

TOP LEADING PRODUCERS OF ETHIOPIA

 

The companies that demand imports are the ones that invest their quality-equipped labor workforce in the production of essentials for export production says the Ethiopia Import Data. The top manufacturers or exporters of the nation in 2023 with its trade values are discussed below,

 

• Ethiopian Airlines – The generated trade value of Ethiopian Airlines 2023 – 4 billion US dollars
• Dangote Cement PLC– The generated trade value of Dangote Cement PLC 2023 – 800 million US dollars
• Karuturi Global Ltd – The generated trade value of Karuturi Global Ltd 2023 – 700 million US dollars
• East African Holding – The generated trade value of East African Holding 2023 – 600 million US dollars
• MIDROC Gold Mine Plc – The generated trade value of MIDROC Gold Mine Plc 2023 – 500 million US dollars
• CE Construction PLC – The generated trade value of CE Construction PLC 2023 – 400 million US dollars
• Tata International Limited – The generated trade value of Tata International Limited 2023 – 300 million US dollars
• OMNIA Nutriology PLC – The generated trade value of OMNIA Nutriology PLC 2023 – 200 million US dollars
• Habesha Cement Share Company – The generated trade value of Habesha Cement Share Company 2023 – 150 million US dollars
• 
  Tana Drilling & Industries PLC – The generated trade value of Tana Drilling & Industries PLC 2023 – 90 million US dollars