Ethiopia has shown progress in its import substitution strategy, producing goods worth USD 2.7 billion in the first eight months of the current fiscal year, according to the Ministry of Industry.
State Minister Tarekgne Bululta highlighted the government’s strategic emphasis on reducing reliance on foreign products, addressing foreign currency shortages, and creating jobs. The Ministry has identified 96 key products for domestic substitution to enhance self-sufficiency.
The initiative has shown growth, with import substitution rising from USD 345 million four years ago to USD 2.9 billion three years ago. Last fiscal year, the figure reached $2.8 billion, and the country is now on track to hit USD 3.9 billion by year-end.
Currently, locally produced substitute goods hold over 43% of the domestic market, reflecting their increasing acceptance and competitiveness.
Source: Ethiopian News Agency
