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Ethiopian textile exports surge in 2011
29
Dec '11
Ethiopia's earnings from textile exports are seen growing over past five months.

As indicated by the Ministry of Industry data, the country's earnings from textile exports grew at a massive 80.5 percent year-on-year during the period.

As earlier announced by the Ethiopian Textile Industry Development Institute, the country garnered US$ 27.2 million in textile exports during first quarter of the current fiscal.

This is 87 percent more than the target fixed for the period, and also US$ 18.6 million higher than the revenues generated during last year's corresponding period, said Melaku Taye, Public Relations Director in the Ministry.

A major portion of these revenues came from exports of weaving items, yarn and garments, with leading brands like Elsie Addis Textile Factories, Aika Addis Textile and Investment Group and Kombolcha Textile Share Company mainly contributing to the same.

Further, as the country made US$ 123.8 million from export of manufactured items during last five months, up 95.5 percent from a year ago, 38.8 percent of this came from textile exports, Mr Melaku said.

Fibre2fashion News Desk - India


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