Ethiopia Exports Rise 3.2% Last Month on Gold, Khat

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Ethiopia Exports Rise 3.2% Last Month on Gold, Khat

Unread postby Ethiopians » 28 Sep 2009 19:49

Ethiopia Exports Rise 3.2% Last Month on Gold, Khat

By Jason McLure

Sept. 28 (Bloomberg) -- Ethiopian exports rose 3.2 percent last month as higher sales of gold and the narcotic leaf khat offset falling shipments of coffee and oilseeds, the trade ministry said.

Exports were $133.4 million in the 35 days ended Sept. 10, up from $129.3 million during the same period last year, the Ministry of Trade and Industry said in an e-mailed report today. The period corresponds to the 12th and 13th month of the Ethiopian calendar.

Coffee shipments declined to 13,645 metric tons worth $40.7 million from 14,859 tons valued at $45.7 million a year earlier. Oilseed exports, mainly sesame, fell 17 percent to $13.5 million. Exports of leather dropped for the second straight month, falling 57 percent to $4.3 million.

Image
Khat

Shipments of khat, a narcotic leaf popular in the Horn of Africa and Arabian peninsula, climbed 19 percent to $16.6 million. Gold exports, mainly from the Midroc Legadembi Gold Mine owned by Saudi billionaire Sheikh Mohammed Al Amoudi, rose to $19.3 million from $239,000.

Ethiopia’s trade deficit widened to $6.1 billion in the year through July 7 from $5.3 billion a year earlier, according to an International Monetary Fund report published this month.

To contact the reporter on this story: Jason McLure in Addis Ababa via Johannesburg on pmrichardson@bloomberg.net" onclick="window.open(this.href);return false" onclick="window.open(this.href);return false.
Last Updated: September 28, 2009 10:54 EDT
Source:Bloomberg
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