{"id":23573,"date":"2023-10-30T10:36:23","date_gmt":"2023-10-30T10:36:23","guid":{"rendered":"https:\/\/www.africa-press.net\/ethiopia\/all-news\/some-350-mln-usd-worth-import-substituted-in-first-quarter"},"modified":"2023-10-30T12:02:30","modified_gmt":"2023-10-30T12:02:30","slug":"some-350-mln-usd-worth-import-substituted-in-first-quarter","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ethiopia\/all-news\/some-350-mln-usd-worth-import-substituted-in-first-quarter","title":{"rendered":"Some 350 Mln USD Worth Import Substituted in First Quarter"},"content":{"rendered":"

Africa-Press – Ethiopia. <\/strong><\/span>Ethiopia substituted import products worth 350 million USD in the first quarter of the current fiscal year, Industry Minister Melaku Alebel said.<\/p>\n

A half-day consultative discussion with stakeholders on the national import substitution strategy is being undertaken in the capital, Addis Ababa, today.<\/p>\n

On the occasion, Minister Melaku said Ethiopia’s trade imbalance is very huge and hampers the economy.<\/p>\n

Ethiopia, on average, imports 18 billion USD worth of products while its exports have not exceeded 5 billion USD, he added.<\/p>\n

According to him, this is mainly due to the fact that the nation only exports raw materials, thereby leading to a lack of global market competitiveness.<\/p>\n

The government of Ethiopia has been working to reverse this reality with a view to expediting the development of the country by strengthening the industrial sector. In this regard, enhancing import substitution has been given the utmost priority.<\/p>\n

Ethiopia\u2019s import substitution strategy has been bearing fruit, and the nation has been able to substitute products such as textiles and food items.<\/p>\n

Encouraged by this achievement and supported by the strategy, Ethiopia was able to substitute 2.26 billion USD worth of products over the last fiscal year.<\/p>\n

Minister Melaku said at the consultative meeting that due attention is given to value addition and diversification of export products.<\/p>\n

Some 96 import products have been identified as being produced locally in short- and long-term plans, as indicated.<\/p>\n

Furthermore, the Minister indicated that plans are in place to export the substituted import products.<\/p>\n

The ministry has also developed a capacity-building strategy, which will be discussed with pertinent stakeholders soon, it was learned.<\/p>\n

For More News And Analysis About Ethiopia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ethiopia. Ethiopia substituted import products worth 350 million USD in the first quarter of the current fiscal year, Industry Minister Melaku Alebel said. A half-day consultative discussion with stakeholders on the national import substitution strategy is being undertaken in the capital, Addis Ababa, today. On the occasion, Minister Melaku said Ethiopia’s trade imbalance […]<\/p>\n","protected":false},"author":84,"featured_media":23572,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,277,235],"class_list":["post-23573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-ethiopia-2","tag-ethiopia"],"yoast_head":"\nSome 350 Mln USD Worth Import Substituted in First Quarter - Ethiopia<\/title>\n<meta name=\"description\" content=\"Ethiopia substituted import products worth 350 million USD in the first quarter of the current fiscal year, Industry Min ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/some-350-mln-usd-worth-import-substituted-in-first-quarter\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Some 350 Mln USD Worth Import Substituted in First Quarter\" \/>\n<meta property=\"og:description\" content=\"Ethiopia substituted import products worth 350 million USD in the first quarter of the current fiscal year, Industry Min ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/some-350-mln-usd-worth-import-substituted-in-first-quarter\" \/>\n<meta property=\"og:site_name\" content=\"Ethiopia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-30T10:36:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-30T12:02:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ethiopia\/sites\/50\/2023\/10\/sm_1698650776.093477.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/some-350-mln-usd-worth-import-substituted-in-first-quarter#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/some-350-mln-usd-worth-import-substituted-in-first-quarter\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Some 350 Mln USD Worth Import Substituted in First Quarter\",\"datePublished\":\"2023-10-30T10:36:23+00:00\",\"dateModified\":\"2023-10-30T12:02:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/some-350-mln-usd-worth-import-substituted-in-first-quarter\"},\"wordCount\":282,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/some-350-mln-usd-worth-import-substituted-in-first-quarter#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ethiopia\/sites\/50\/2023\/10\/sm_1698650776.093477.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ethiopia\",\"ethiopia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/some-350-mln-usd-worth-import-substituted-in-first-quarter#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/some-350-mln-usd-worth-import-substituted-in-first-quarter\",\"url\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/some-350-mln-usd-worth-import-substituted-in-first-quarter\",\"name\":\"Some 350 Mln USD Worth Import Substituted in First Quarter - 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