Ethiopia earns over 404.5 million dollars from the exports of mineral items in the last eight months. This is more than twice the amount registered during the last fiscal year.
The increase is attributed to the significant adjustment made on the purchasing prices of gold by the National Bank of Ethiopia and the crackdown on smuggling activities across the country.
Gold accounts for more than 90 percent of mineral exports. Last fiscal year, about 207 million worth of gold was exported.
Switzerland is the top destination of Ethiopia's mineral exports. Its share to the total export proceeds from minerals is above 95 percent.