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Textile exports earnings on a positive trend
22
Sep '11
A positive trend has been noted in the country's textile export earnings during the initial two months of the current Ethiopian fiscal year.

Ethiopia's textile export earnings grew to US$ 18.5 million during the initial two months of current fiscal year that begun on July 8, as against exports earnings worth US$ 11.6 million achieved during corresponding period last fiscal, that is a growth of nearly 60 percent.

Product-wise, exports earnings from yarn and thread increased by 4.8 percent, garments by 9 percent, weaving items by 8.2 percent and fabrics by 78 percent.

During the last fiscal, Ethiopia exported textiles worth US$ 62.2 million, achieving 73.1 percent of its actual textile export target. The earnings were, however, 178 percent above previous fiscal's earnings worth US$ 23.2 million.

In June itself, the country fetched US$ 6.9 million from textile exports, compared to June 2010's US$ 3.3 million.

From amongst leading domestic textile exporters, Ma Textiles and Garment Factory, Almeda Textile Plc Else, Adama Spinning Factory, Addis Industrial Development Plc and Aika Addis Textile Investment Group significantly contributed to the country's exports during the review period.

China, Djibouti, Germany, Australia, Italy, Belgium, Turkey, Netherlands, UK, Sudan, the United States and United Arab Emirates are Ethiopia's key textile export destinations.

Over 94 percent of Ethiopia's textile exports during the last fiscal were supplied to these countries.

Fibre2fashion News Desk - India

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