Addis Ababa, March 28, 2025 (FMC) — Ethiopia has reached a significant milestone in its import substitution strategy, producing goods valued at 2.7 billion USD in the first eight months of the current fiscal year, according to the Ministry of Industry.
Mr. Tarekgn Bululta, State Minister of Ministry of Industry, emphasized that the government has placed strategic emphasis on import substitution to reduce dependence on foreign products and boost domestic production.
The state minister noted that the initiative aims to ease foreign currency shortages, create substantial job opportunities, and ensure citizens have access to affordable goods.
The Ministry has developed a detailed strategy identifying 96 key products for domestic substitution, he told local news agency ENA.
Reflecting on the progress of the initiative, the state minister also noted that just four years ago, the value of import substitution goods was USD 345 million, which rose to USD 2.9 billion three years ago.
According to the state minister, the growth trend has continued, with the previous fiscal year recording the production of USD 2.8 billion worth of substitute goods.
In the eight months of 2024/2025 alone, the country achieved USD 2.7 billion in domestic import substitution, showcasing the momentum of this economic policy.
The government has been working closely with relevant stakeholders to raise this figure to USD 3.9 billion by the end of the current fiscal year, he stated, adding that the market share of domestically produced substitute goods is expanding, now exceeding 43 percent, indicating growing acceptance and competitiveness of Ethiopian products within the national market.