Ethiopia Import and Export Trade 2023

Ethiopia is a country that lies in between the tropical latitudes referred to as based in the Horn of Africa. Africa’s one of the fastest growing economies, Ethiopia is spread over an area of 1.1 million square kilometers and is home to diverse ranges of eye-captivating natural beauties and resources. Ethiopia, where the coffee beans were first discovered is popular for its rock-hewn churches. The African nation shares its border area with countries like Eritrea, Djibouti, Somalia, and Kenya to the northeast, east, south, and west.

The country had an overgrowing population of around 115 million, among which the majority practice Amharic as their official language followed by many other native languages such as Oromo. Ethiopian history has a great role of significance because it represents the Christian culture in its roots. The majority of the population is practicing the rules of Ethiopian Orthodox Christians; with a growth rate of 8.6% from the previous few years the country has recorded a GDP of 109 billion US dollars in 2023.

The Ethiopia Import Data showcases the below-mentioned five products as the top imports of the nation accounting for its economic stability. To increase the manufacturing rates of a variety of traded products and to emerge as a global trader Ethiopia used to import from different nations.

• Machinery and Electrical equipment (HS code - 84) – Import trade value of 2023 – 8 billion US dollars.

• Transport products (HS code - 99) – Import trade value of 2023 – 6 billion US dollars.

• Chemical products (HS code - 38) – Import trade value of 2023 –  4 billion US dollars.

• Cereals (HS code - 11) – Import trade value of 2023 – 2 billion US dollars.

• Iron and steel (HS code - 72) – Import trade value of 2023 – 1 billion US dollars.

The diverse range of industries in the nation and the strategic geographical location of the country promote the import trade business at a higher rate. With a significant increase of 15% in the growth rate of Ethiopia from 2015-2019 the country is expanding its trade business even more to emerge as a global trader. The top 5 import destinations of Ethiopia as per the Ethiopia Trade Data are mentioned below,

• China – The Asian estate China is continuously expanding its trade reach to different countries, evolution of the mechanical and agricultural industries accounts for a vast amount of goods production. The total import trade value of the imported goods from China by Ethiopia in 2023 is 6 billion US dollars, with machinery and textiles at the top.

• India – India caters its agricultural products and automotive vehicle resources to Ethiopia. The total import trade value of India's exported goods to Ethiopia has overall revenue of 4 billion US dollars in 2023.

• United States – Although the trade share of the United States to Ethiopia is less still the goods that are exported have a high value of significance. Products like aircraft parts and machinery the most globally demanded products, are traded within these countries with an overall revenue of 3.4 billion US dollars.

• Saudi Arabia – Saudi Arabia within West Asia and the Middle East is a significant trade partner of Ethiopia, it is one of the largest oil producers in the world. Ethiopia used to import oil and petroleum products/fuels from Saudi Arabia which has recorded a trade value of 1.9 billion IS dollars in 2023.

• United Arab Emirates – Last but not least, the United Arab Emirates records its name in the top 5th position of the import trades of Ethiopia with an import trade value of 1 billion US dollars in the year 2023.

The export trade rate of a country accounts for the economic growth, the abundance of resources, and manufacturing industries in Ethiopia. Its vast production capabilities make it one of the top global traders. As per the Ethiopia Export Data, the 5 products that contribute to the economic growth of Ethiopia are listed below,

• Coffee (HS code - 09) – Export Trade value of 2023 – 1.23 billion US dollars.

• Oil seeds (HS code - 12) – Export Trade value of 2023 – 764 million US dollars.

• Gold (HS code - 71) – Export Trade value of 2023 – 538 million US dollars.

• Flowers (HS code -06) – Export Trade value of 2023 – 334 million US dollars.

• Live animals (HS code - 01) – Export Trade value of 2023 – 287 million US dollars.

As per the Ethiopia Customs Data, the top 5 nations which import goods and metallic products from Ethiopia for its domestic needs are mentioned below,

• China – Ethiopia has been a major producer of coffee beans, oil seeds, and precious stones because of its fertile soil and land areas. The exported product to China holds a share of 42% of the total trade and has accounted for overall export trade revenue of 3 billion US dollars in the year 2023.

• Germany – The products that are imported by Germany from Ethiopia include spices and textiles. The steady growth rate of the export trade has finally reached an annual revenue of 800 million US dollars in the year 2023.

• Saudi Arabia – Saudi Arabia used to import products like livestock, oilseeds, and pulses from the South African country. The total export trade value of the exported goods from Ethiopia to Saudi Arabia has accounted for 500 million US dollars.

• United States – The United States is a significant trade partner of Ethiopia with trade of products like oilseeds and textiles. The United States holds a share of 7% in the economic growth of the nation and has generated revenue of 400 million US dollars in 2023.

• Netherlands – The total trade value of the products exported from Ethiopia to the Netherlands in the year 2023 is recorded as 300 million US dollars. Horticulture products and textiles are some of the top traded products within these 2 countries.