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Ethiopia Overtakes Tanzania To Become Top LDC Services Exporter

The Reporter · 2 hours ago · Read the Full Story on The Reporter
Ethiopia Overtakes Tanzania To Become Top LDC Services Exporter
AI SUMMARY

A joint WTO-OECD report reveals that Ethiopia has surpassed Tanzania to become the largest commercial services exporter among the world's least-developed countries in 2024.

  • Ethiopia accounted for 17 percent of the total services exports among the world's least-developed countries in 2024.
  • The country's share of services exports more than doubled from seven percent in 2006.
  • Tanzania ranked second with a 15 percent share, followed by Bangladesh at 11 percent, Cambodia at 10 percent, and Uganda at four percent.
  • The findings were published in a joint World Trade Organization and OECD report titled 'Two Decades of Trade and Development Partnerships: Trends and Impact of the Aid for Trade Initiative'.
  • Collectively, least-developed countries accounted for 0.54 percent of global commercial services exports in 2024.
  • Least-developed countries' services imports reached USD 90 billion, growing at an average annual rate of 6.4 percent.
  • Total commercial services exports for least-developed countries rose from USD 9.5 billion in 2006 to USD 47 billion in 2024.
  • Transport accounted for 35 percent of least-developed countries' services exports, while travel represented 41 percent.
  • Least-developed countries tripled their merchandise exports to USD 277 billion in 2024, up from USD 95 billion in 2006.
  • Globally, USD 795 billion was disbursed for trade infrastructure and capacity building between 2006 and 2024.
  • A beekeeping project in Ethiopia implemented between 2018 and 2022 organized 3610 young people, established eight processing centers, and generated USD 1.4 million in revenue.
Read the Full Story on The Reporter
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