Ethiopia generates record $1.4bn from coffee as exports soar

BREAKING NEWSJuly 12, 2024 at 2:22 PM UTC

TLDR

Ethiopia's coffee exports earned $1.43 billion in revenue in the 2023/24 fiscal year.
The country exported 298,500 tonnes of coffee during this period.
In June alone, Ethiopia exported 46,000 tonnes, generating a record $218 million in revenue.

Coffee exports brought Ethiopia $1.43 billion in revenue during the just-concluded Ethiopian fiscal year, the government said.

The country exported 298,500 tonnes of coffee during the 2023/24 fiscal year, which ended on July 7, according to a statement from the Ethiopian Coffee and Tea Authority (ECTA). In June alone, Ethiopia exported 46,000 tonnes of coffee, generating a record $218 million in revenue, the ECTA reported.

In the previous fiscal year, Ethiopia earned $1.3 billion from the export of about 240,000 tonnes of coffee. ECTA data show that the volume of coffee exported in the 2023/24 fiscal year rose about 20% compared to the previous fiscal year.

Points clés à retenir

Ethiopia, regarded as the origin of Arabica coffee, is one of Africa's largest producers and exporters of the commodity. Coffee production is seen as the backbone of the country's agriculture-led economy. Widely recognized for its quality and rich flavors, ranging from winy to fruity and chocolatey, Ethiopian coffee has been in great demand across the globe. However, experts often cite the lack of value-addition in Ethiopia's coffee sector as a major bottleneck, preventing the country from fully benefiting from its rich coffee resources. Ethiopia mainly exports raw coffee beans to the international market, missing out on potential profits from processed coffee products.

Ethiopia

Coffee

Exports

Commodities

Horn of Africa

Economy