Ethiopian leather exports up

6 August 2012

Ethiopia has earned more than US$112.1 million from the export of leather and leather products during the just ended financial year said the Leather Industry Development Institute (LIDI).The revenue obtained in this reporting period is $7.8 million more than what was earned in the previous financial year explained a press statement from LIDI.

An estimated $51.5 million of the total amount of revenue earned was acquired from the export of processed leather explained the statement. 

The primary export destinations for the leather sector have been China, Germany, Italy, Hong Kong, Thailand and the United States it was said.

The Ethiopian manufacturing sector failed to meet the projected earnings with the various sub sectors bringing in between 63% and 49.4% of anticipated earnings.

The textile and garment sub sector earned $84.6 million, which falls short of the 171.4 million US dollars projected for the past fiscal year. The earnings from the sector where however 36% more than what was earned by the sector in the previous year according to information obtained from the Ministry of Industry.

Ayka Addis Textile and Investment Group are responsible for 71% of the earnings from the textile sector.

Meanwhile leather and leather products earned just 54.4% of what had been expected and pharmaceuticals and chemicals only managed to earn 58.7%.

Initial projections for the fiscal period estimated $471.3 million in exports from the manufacturing sector but only $255.4 million was actually earned. The earnings were still 22.8% higher than what was earned in the previous reporting period in spite of being lower than projections.

Source: Ethiopian News Agency

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