$ 1.2 billion in revenue generated from the export of coffee, green beans, white beans, sesame seeds and soybeans, according to a Fana Broadcasting Corporate (FBC) report on July 27.
A great deal of revenue comes from coffee exports. Ethiopia is one of the largest Arabica coffee producing countries in Africa, in which the coffee industry is considered the backbone of the economy, leading the country's agriculture.
Recently Ethiopia also launched a new initiative to increase 600,000 tons of coffee output annually to 1.8 million tons in the next 5 years.
According to Ethiopia's Coffee and Tea Authority (ECTA), China is expected to be a major market for its coffee exports.
In April, China and Ethiopia signed a Memorandum of Understanding on coffee exports and enhanced bilateral trade cooperation.
While the demand for Chinese youth is increasing, penetrating emerging coffee markets is seen as a key priority for Ethiopian coffee producers and exporters.
Ethiopian sesame, which is also one of Ethiopia's leading exports besides coffee, has in recent years witnessed increasing interest from the Chinese market.
In an interview with Xinhua News, Ethiopian President of Ethiopian Spice and Oil Processing and Exporters Association Haile Berhe said that sesame exports to China now account for nearly 70% of the total sesame exports. Global market of East African nation.
China is Ethiopia's main export market. According to the Ethiopian Minister of Commerce, the country exported US $ 245 million worth of goods to China in the 2017-2018 fiscal year.
