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Ethiopia earns US$670mn from mineral and manufacturing exports

Gold exports made US$409mn in foreign currency. (Image source: Bullion Vault/Flickr)

Ethiopias Ministry of Mines has announced that exports of minerals supplied by artisanal miners reached US$419mn in the first 11 months of the fiscal year

The export of gold made up the largest element of this figure, generating $409mn in foreign currency with gemstones and tantalum earning $9.3mn and $1.6mn respectively. A total of 7,878 kg of gold, 20,126.3 kg of gemstones and 32.95 tons of tantalum were exported.

The export of minerals accounted for over 23 per cent of Ethiopia's overall export earnings.

During the same period, Ethiopia also earned $255mn from the export of manufactured goods, including textiles and clothes, leather and leather products, agro-processing, pharmaceuticals and chemicals, according to the Ministry of Industry.

The figure exceeded the amount earned during the same period the previous year by $24.3mn.

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