Ethiopia’s Mining Sector Contributes USD1.88 Billion in Exports, Led by Gold
Ethiopia’s mining sector has shattered expectations with a gold export boom in the 2024/2025 fiscal year. Official reports reveal Ethiopia exported 22.5 tons of gold in just eight months – nearly four times its 6-ton target.
This stellar performance positions Ethiopia to potentially join Africa’s top gold exporters. At the current pace, year-end exports could reach 33 tons, significantly boosting foreign currency reserves.
The mining sector has emerged as Ethiopia’s export champion, contributing the lion’s share of USD1.88 billion in total export earnings. However, the sector faces structural challenges, with artisanal miners producing 95% of output through traditional methods.
To address these challenges, the government plans to operationalize small gold processing factories. This move aims to increase production efficiency while formalizing the largely informal sector.
The gold export surge comes at a critical time for Ethiopia’s economy. While the windfall provides immediate relief to forex reserves, long-term success depends on transitioning from artisanal to industrial mining practices.
Minister Habtamu Tegegne presented these findings during a review of the ministry’s eight-month performance. The report highlights both the sector’s potential and the need for sustainable development strategies to maintain growth.
