Ethiopia has saved billions of dollars through its homegrown economic policy in the manufacturing sector. In just the past nine months, domestic production substituted imports worth 4.85 billion dollars, while exports reached 433 million dollars. Data from the Ministry of Industry confirms these gains.
Ethiopia is pursuing macroeconomic stability through its homegrown economic policy, focusing on food security via livestock chain development and eventual meat exports after achieving self-sufficiency. The policy also emphasizes import substitution in industry, followed by exports.
Prime Minister Dr. Abiy Ahmed stated that the import substitution initiative has driven transformation and tangible results in the manufacturing sector. Over the past nine months, domestic production has covered goods worth 4.85 billion dollars, primarily in substitute products, thereby saving billions in import costs.
Additionally, industrial exports to foreign markets generated 433 million dollars in revenue during the same period. Around 830 factories, previously closed for various reasons, have restarted operations, boosting productivity and creating jobs.
Ministry of Industry data supports these achievements. However, sustained growth requires improved finance and power supply provisions.
