Over 7.8 million U.S. dollars were obtained from the export of gold by producers and exporters during the first quarter of the current budget year since July, the Ethiopian Ministry of Mines and Energy said on Saturday.

The ministry said in a news release that the sum was obtained from the export of over 433,000 kg of gold.

Besides, some 53,610 dollars were obtained from the export of 171,814 kg of various jewels during the reported period, said the news release.

Ethiopia, which is believed to have large reserves of gold, is benefiting from a surge in global demand for gold.

Source: Xinhua