Ethiopia Achieves Record $1.43 Billion in Coffee Exports
Ethiopia’s coffee exports brought in $1.43 billion in revenue during the recently concluded Ethiopian fiscal year, the government has announced.
This significant increase was driven by the export of 298,500 tonnes of coffee during the 2023/24 fiscal year, which ended on July 7, according to a statement released by the Ethiopian Coffee and Tea Authority (ECTA) on Tuesday.
The month of June alone saw a record-breaking performance, with Ethiopia exporting 46,000 tonnes of coffee and generating an impressive $218 million in revenue, as reported by the ECTA. This performance contributed significantly to the overall annual revenue.
Comparing this to the previous fiscal year, Ethiopia earned $1.3 billion from the export of approximately 240,000 tonnes of coffee. The ECTA’s data reveals a notable 20 percent increase in the volume of coffee exported in the 2023/24 fiscal year compared to the previous year.
Ethiopia, recognised as the birthplace of Arabica coffee, stands as one of Africa’s largest coffee producers and exporters. Coffee production plays a crucial role in the country’s agriculture-led economy.
Ethiopian coffee is renowned worldwide for its superior quality and diverse flavors, ranging from winy and fruity to chocolatey, making it highly sought after on the global market.
Despite these impressive figures, experts point out that Ethiopia’s coffee sector faces significant challenges.
A major bottleneck is the lack of value addition within the country, as Ethiopia primarily exports raw coffee beans. This limits the potential benefits that the country could derive from its rich coffee resources.
As Ethiopia continues to expand its coffee export volume and revenue, addressing the value-addition challenge could unlock even greater economic potential for the nation.
