Ethiopian Informer
ADDIS ABABA (EI) — Ethiopia has saved more than 4.85 billion USD in import substitution with locally produced alternatives over the past nine months, marking a “major milestone” in the country’s industrial transformation, the country’s industry minister has said.
Presenting the industry sector’s performance report on Thursday, Ethiopia’s Industry Minister Melaku Alebel said the achievement reflects “growing momentum toward economic self-reliance and structural reform.”
According to the industry minister, Ethiopia has generated 433 million USD in export revenue from industrial goods to the international market during the same period this fiscal year.
He said the manufacturing sector, which previously grew at 4.8 percent, has now surpassed 13 percent, signaling a strong upward shift in productivity, he pointed out.
Melaku, in particular, credited the “Made in Ethiopia” initiative as a key driver behind the “impressive progress,” which enabled 754 industries to enter production, meaningfully expanding the nation’s industrial base.
Noting that ongoing reforms are delivering measurable results, he said both domestic and foreign investors have played a crucial role in advancing import substitution and export growth.
The Ethiopian government argued that the import substitution effort is “significantly easing” pressure on the country’s foreign currency reserves.
