Ethiopia achieves remarkable growth and export milestones in 2024/25 Fiscal Year

Addis Ababa, October 6, 2025 (FMC) — Ethiopia’s economy grew by 9.2 percent in the 2024/25 fiscal year, driven by strong performance across agriculture, industry, exports, and other key sectors, President Taye Atske-Selassie told a joint session of Parliament on Monday.

The remarks were delivered before a joint session of the House of Peoples’ Representatives and the House of Federation, convened to mark the opening of the 2025/26 fiscal year.

In the agriculture sector, the country produced 1.57 billion quintals of crops, marking a 24.7 percent increase from 1.2 billion quintals in the 2023/24 fiscal year. Industrial production capacity rose from 59 to 65 percent, while gold output reached 38.87 tons and cement production totaled 9.1 million tons, compared to 7.5 million tons the previous year.

The President highlighted the digital economy’s achievements and said banks released 822.8 billion birr in loans, with 77 percent directed to the private sector. Ethiopia also hosted over 150 international conferences and forums during the fiscal year.

Exports brought in 8.3 billion USD, a 116 percent increase from the previous year — the country’s highest-ever earnings from trade. President Taye noted that the government concluded the fiscal year without taking direct loans from the central bank, demonstrating fiscal discipline and economic stability.

On social development, significant strides were made in education through the formulation of a new policy and expansion of school feeding programs, which helped students continue their studies and grow physically and mentally. The government also emphasized inclusiveness, increasing the participation of women and youth in leadership and decision-making roles. Multiple sports facilities were constructed nationwide to support youth development.

In the health sector, Ethiopia achieved notable results in locally manufacturing medicines and medical equipment, some of which received international recognition.

President Taye said the country is at a pivotal moment in its history. He cited achievements such as the completion of the first and second phases of the Ogaden Liquefied Natural Gas Project, the launch of multi-billion-dollar oil refinery and fertilizer plants in the Somali region, macroeconomic reforms, and the Green Legacy initiative as evidence of tangible development progress.

He added that, despite global uncertainties, Ethiopia is seizing opportunities and building the capacities necessary to become a model nation in the world’s evolving geopolitical and economic landscape.