Gold is now Ethiopia’s second largest export item as well as the country’s second foreign exchange earner, after coffee. The horn of Africa country’s half year export earnings since the start of its fiscal year in mid July, 2010, hit US$ 1.14 billion, according to a report released by the Ethiopian Trade Ministry.
Ethiopia’s agriculture based economy employs over 80 per cent of its estimated population of 80 million. Coffee, the country’s main export crop, which provided the country with an estimated 65 per cent of its foreign exchange earnings in the 1990s, is now down to about 35 per cent due to continues price slumps on the international market.
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