By Hayal Alemayehu | The Reporter

Export revenue secured during the first quarter of the current Ethiopian fiscal year fell sixteen percent short of the government’s ambitious target, it was learnt.

A total of close to USD 352 million was obtained from nearly 44,000 tonnes of various exports shipped to the world market during the first quarter of the fiscal year, while the target had stood at USD 416.6 million.

The export earnings, however, increased by some 22 percent compared to the same period of the previous year.

Coffee exports, as usual, fetched the highest amount of foreign currency, USD133.3 million, during the reported quarter followed by oilseeds and khat, which, earned USD 45.3 million and USD 33 million respectively.

Khat turned out to become the fourth major foreign currency earner during the reported period, where close to USD 27 million was secured from the export. Only a couple of years ago, earnings from flower exports were not that significant compared to the major export items, including leather and leather products, which, during the reported period, fetched USD 25.5 million, an amount lower than flower export revenues secured during the same period.

Coffee export earnings during the review quarter registered close to 22 percent increase against that of the same period of the previous year. Likewise, earnings from the other major exports item registered significant increase.

Revenue secured from flower exported showed a marked growth of over 25 percent, the increase being the most noticeable compared to the other major export commodities.

Despite a slowdown observed in leather exports and leather products, shoe exports particularly showed a major increase, fetching over USD two million during the quarter year. Export earning from the same items during 2006/2007 was less the amount secured during the reported quarter year.