Ethiopia misses Q1 export earnings forecast by 31 percent

ADDIS ABABA (Reuters) - Ethiopia earned $343 million in the first quarter (July-September) of its 2009/10 export year, 31 percent lower than the projected $496 million, a government official said on Tuesday.

The country plans to generate $2.9 billion from its exports in 2009/10, up from $1.5 billion in 2008/09.

"The shortfall during the first quarter is not a big deal. Exports usually pick up during the next three quarters of the year," Amakele Yimam, head of public relations in the Ministry of Trade and Industry told Reuters.

That was the time when most of the country's agricultural commodities were harvested for export, Amakele added.

He said the country earned $104.7 million from export of 35,315 tonnes of coffee during the period, lower than the projected $146 million from 52,361 tonnes.

Leather and leather goods fetched $11 million while garments generated $4 million during the period, he added.

Sesame, Ethiopia's second most important export crop, haricot beans and maize are in the process of being harvested, Amakele added.

"Given the improvement in the global economic crisis, it is also possible that Ethiopia's income from its export would also improve," he said.