Annual gold export income of Ethiopia has increased to over $600 million during the current budget year of the country set to be concluded this month on July 7, 2021.
Compared to last year earnings, the hard currency the country has earned is all time high, according to Prime Minister Abiy Ahmed. He made the comment addressing questions from the members of parliament this morning.
“In traditional way (artisan miners) in some regions, which used to produce 40 to 50 kilograms, have increased their production to 1,000 kilograms this year. They haven’t used any new technology. They used only human resource and good management,” he said, indicating that gold has generated $600 million next to coffee.
“We have never exported that much…But the potential for further growth is there,” he said indicating the job opportunities the industry (gold mining) can create and the potential for increased revenue for the country.
It is recalled that last year concluded July 7, 2020, Ethiopia has earned a total of $145.1 million from gold export.