Government highlights industrial expansion, import substitution and investor inflows as pillars of economic transformation
Ethiopia is on course to achieve a historic milestone in export performance, with Prime Minister Abiy Ahmed announcing that the country expects to generate US$10 billion in export revenue during the fiscal year, reports ENA, a partner of TV BRICS.
Manufacturing growth has more than doubled, rising from 4.7 per cent to 10.7 per cent, as authorities prioritise export-orientated development while reducing reliance on imports. The surge has been driven by rapid industrialisation and the expansion of domestic production.
According to the Prime Minister, Ethiopia has produced goods worth US$14.5 billion over the past four years as part of its import substitution strategy, with plans to further expand domestic output.
Industrial recovery has also played a key role. Nearly 1,000 previously idle factories have resumed operations, boosting employment and trade capacity, while the sector has attracted more than 3,600 new investors since the launch of the national manufacturing initiative.
Abiy Ahmed urged businesses to enhance competitiveness and expand beyond the domestic market, calling for greater engagement with African markets and stronger adherence to transparent and lawful business practices.
The government has also identified nearly 100 products for local production to replace imports, alongside targeted expansion in key industries such as ceramics. Broader economic growth remains robust, with Ethiopia’s economy expanding by over 10 per cent, supported by agriculture, mining, manufacturing, tourism and technology.
The establishment of a national manufacturing council and continued policy reforms have helped address sector challenges, improve efficiency and support export growth. Authorities also stress the importance of expanding industrial activity into rural areas to sustain long-term progress.
African Times published this article in partnership with International Media Network TV BRICS
