Thursday, February 23, 2006

Ethio-German trade volume nears $240 million in 2005

The trade volume between Ethiopia and Germany has reached 200 million euros (238 million U.S. dollars) last year, according to a statement from the German embassy on Wednesday.

The statement said exports and imports between Germany and Ethiopia each account for approximately 50 percent of the trade volume in the year 2005.

Coffee remains Ethiopia's main export to Germany, the German embassy said, adding that the outstanding quality of Ethiopian coffee had Germany purchase 36 percent of the Ethiopian coffee exports.

Ethiopia's imports from Germany consist mainly of machinery, chemical products, automobiles, electrical engineering and precision mechanics products, the statement said.

The German embassy also said foreign investments involving German companies have brought a capital of over 700 million birr (81 million dollars) to Ethiopia in the past decade.

"This figure is constantly rising as the year 2005 brought new German investors in the field of horticulture and the textile industry to the country," it said.

Full story at Xinhua 23 Feb 2006.


Post a Comment

<< Home