World Bulletin / News Desk
Ethiopia's coffee exports have declined in the last ten months, the Ethiopian Trade Ministry said on Friday.
In a report, the ministry said that Addis Ababa had exported 136,000 tons of coffee worth $489.28 in the last ten months, compared to $576.819 in the same period last year.
According to the trade ministry, coffee exports declined by 8.79 percent and revenues by 15.8 percent in the last ten months compared to the same period of 2013.
The ministry cited power disruption, delay in business deals and market price fluctuation for the decrease in coffee exports.
Ethiopia is a major exporter of coffee in Africa.
Ethiopian coffee exports account for around 3 percent of the global coffee market.
The biggest market for Ethiopian coffee is Germany, which imported $95.75 worth coffee during the last ten months, according to the ministry report.
Saudi Arabia was the second largest market for Ethiopian coffee followed by the United States, Belgium, Sudan and Britain.
Depreciation of emerging market currencies, combined with low commodities prices, have made investors around the globe nervous
Global growth at further risk from Chinese asset price deflation, and US interest rate increases, Moody's says
Traders fear Chinese government will withdraw support measures markets
European Commission president 'convinced' three-year plan will boost investment in EU
Deal aims to bolster fight against tax fraud through exchange of financial information on Turks holding accounts in US and vice versa
Vessels were delivered to port of Alexandria on June 17
The economic cost of violence according to the 2015 Global Peace Index has reached a staggering $14.3 trillion with Syria the least peaceful country.
The leading opposition lawmaker has said that Turkish President Erdogan is open to all possiblities for a coalition.
Qatar has filed a lawsuit against the leader of the National Front in France for his comments regarding "terror" activities.
Saudi Arabia will put in place an electronic bracelet system for all pilgrims visiting the country to perform their Hajj duties.
After U.S. Federal Reserve Chair Janet Yellen indicated that the central bank was poised to raise interest rates, European stock markets fall.
Italian company Enel will invest 18 billion euro for renewable energy sources in Africa.
Azerbaijani president said in a statement that Southern Gas Corridor project will supply neighboring and European countries for a 100 years
Oil prices rose above $60 due to Iran's call for oil production cut
Economic growth in the Euro-Zone is not at desired levels.
Director and Global Head of Islamic Finance at Standard & Poor's says that growing market for sukuk and new players mark 'significant interest' in Islamic finance.