Ethiopia reduces its imports by US$4.85 billion over nine months

Over the past nine months, Ethiopia has replaced imported goods worth US$4.85 billion with locally produced goods, marking an important milestone in the country’s industrial transformation. This was announced by the Minister of Industry of Ethiopia, Melaku Alebel, whilst presenting a report on the state of the sector in the presence of Prime Minister Abiy Ahmed, reports Fana Media Corporation, a partner of TV BRICS.

The "Made in Ethiopia" initiative, implemented by the country’s Ministry of Industry, supports the development of domestic production and promotes the industrialisation of rural areas. It provides support to manufacturers through incentives and public policy measures, technical assistance, and expanded access to markets.

The country’s manufacturing sector grew from 4.8 per cent to over 13 per cent over nine months. 754 enterprises commenced operations. Exports of industrial goods over the nine-month period amounted to US$433 million, indicating a gradual increase in competitiveness and an expansion of presence in foreign markets.

The report also states that industrial growth has led to an increase in energy consumption, which indicates an expansion of production capacity in this sector.

The government intends to continue strengthening the industrial sector by improving access to finance, raw materials and a reliable energy supply and by expanding market links.