Ethiopia: Leather exports up 70%
Ethiopia’s manufactured goods export for the last six months has increased by 67% as compared to same period last year.
From July 2010 to December 2010, the country exported manufactured goods worth $4.79 million, according to a report by the country’s Ministry of Industry.
To reduce its import bill, create more jobs and ultimately transform the economy from agrarian to industry, the Ethiopian government has identified leather and leather products, agro processing, textiles and garments, pharmaceuticals and chemicals as major investment areas.
Out of the total foreign currency the manufacturing industry generated in the last six months, textiles and garment contributed $21 million, growing 133% from the same period last year. Earnings from leather and leather products have also increased by around 70% as compared to same period last year and reached $40.5 million.
