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Ethiopian Export to USA under AGOA in USD

Sector 2018 2019 2020 2021 up to June
Textiles and apparel 114,417,000 211,092,000 222,215,000 120,221,000
Footwear 34,619,000 23,403,000 11,081,000 844,000
Miscellaneous manufactures 1,664,000 2,226,000 2,463,000 1,502,000
Agricultural products 3,361,000 3,346,000 2,287,000 3,090,000
Chemicals and related products 10,000 17,000 3,000 16,000
Forest products 79,000    - - 27,000
Energy-related products -    - - -
Minerals and metals 20,000    - - 25,000
Machinery -    - - -
Transportation equipment -    - - -
Electronic products -    - - -
Special provisions -    - - -
All Sectors 154,171,000 240,084,000 238,050,000 125,726,000

Kenyan Export to USA under AGOA in USD

Sector 2018 2019 2020 2021 up to June
Textiles and apparel 390,957,000 453,074,000 382,943,000 199,614,000
Agricultural products 72,817,000 56,802,000 43,648,000 26,612,000
Miscellaneous manufactures 2,221,000 2,086,000 2,050,000 1,746,000
Footwear 108,000 172,000 596,000 309,000
Forest products 115,000 198,000 85,000 131,000
Chemicals and related products 103,000 29,000 24,000 43,000
Electronic products - - 5,000    -
Minerals and metals 42,000 8,000 2,000 2,000
Energy-related products - - -    -
Machinery - - -    -
Transportation equipment - - -    -
Special provisions - - -    -
All Sectors 466,363,000 512,370,000 429,355,000 228,458,000

Check below the key metrics of the Ethiopian banking industry for 2020/21 fiscal year ended June 30, 2021.

The industry average excludes state-owned banks

Zemen Bank will be added soon

Check below the key metrics of the Ethiopian insurance industry for 2020/21 fiscal year.

The 2020/21 fiscal year ended June 30, 2021

The runaway inflation should worry you!

How are your revenues and other key metrics growing as compared to the National CPI?

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MoF Announces Tax Incentives for Imports of Electric Vehicles

High fuel prices plus a need to shift to green economy equals incentives for electric cars. The recent circular issued by the Ministry of Finance dated September 13, 2022 related to tax incentives for electric vehicles is one important intervention to improve the Ethiopian auto industry.

As per the circular, imports of electric car is exempted from excise tax, value-added tax and sur tax. However, th ......

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NBE Revised its Forex Loan Directive

In Ethiopia securing forex to pay for your foreign purchases is not that easy. As the country's forex earning registers a slow growth while demands for imports are on the rise, it is understandable that the National Bank of Ethiopia is in a difficult situations to meet the forex needs of the business community.

NBE has been taking different measures to address the issue. One good example is its "Exter ......

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A New Directive Limits Duty Free Imports of Personal Effects

Many international travelers do not travel empty handed. Some carry luggage full of items from clothes, to medicines to personal care items, and electronic gadgets. Others even bring big-size items like beds and closets and sofa and kitchen stoves and refrigerators. For customs purpose, personal effects which can be used for the daily usage of the traveler can be imported duty-free. Others not.

A recent directi ......

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MoF Issued a Circular on Dividend Taxation

In the global tax policy discussions dividend tax is usually criticised to result in double taxation of the same income. Dividend tax is one of the income taxes imposed in Ethiopia. As an incentive, in Directive No. 7/2011 EC it is cleearly stated that shareholders will not be required to pay dividend tax if they reinvested the dividend to increase the capital of their company. This benefit is available if the reinvestment is made within 12 month after the end of its fisc ......

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CoM's Passed New Customs Regulation and Investment Incentives Regulations

The Council of Ministers has enacted two important regulations: Customs Regulation and Investment Incentives Regulation. The customs Regulation No 518/2022 is enacted as an attendant text to the Customs Proclamation.

Likewise, the Investment Incentive Regulation No. 517/2022 provided for tax holiday incentives available to different investment sectors. The incentive also depends on the location of the investme ......

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