Ethiopia has increased exports to EU by 40% and imports from EU by 10%

According to data published by EuroStat, Ethiopia's exports to the 27 European countries has increased by 40% from 2009. During the the first nine months of 2009 Ethiopia exported €286 million value of goods and during the same period in 2010, the export has jumped to €361 million.

In addition Ethiopia's import from European countries has increased from €510 million in first nine months of 2009 to €556 million for same period in 2010.

According the report, Ethiopia's trade deficit has reduced from €224 million in 2009 to €195 million in 2010. The increase in export is a good sign for the economy and will create a larger foreign reserve to the country.

Download the report.