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Ethiopian textile exports reach $29 mn in first quarter
Nov '13
Ethiopia exported US$ 29 million worth of textiles during the first quarter of the fiscal year 2013-14 that began on July 8, 2013, Addis Fortune reported.
The first quarter export earning was over 50 percent higher than the US$ 19 million made in the corresponding period of last year, but the exports are still likely to fall short of Government target of US$ 500 million for the entire fiscal year, if the trend continues.
In 2012-13, Ethiopian textile sector exports fetched US$ 99 million, much below the Government target of US$ 357 million.
The Ethiopian textile sector comprises of 110 companies, and the export target for each individual company for the current year is yet to be determined, according to the Ethiopian Textile Industry Development Institute (TIDI).
At present, the Ethiopian textile sector is operating at 50 percent capacity, and in order to achieve the Government target, the production capacity would have to be raised, feel industry experts.
The export target set by the Government is higher than the capacity of the textile sector, according to Fassil Taddesse, president of the Ethiopian Textile and Garment Manufacturers’ Association.
Citing the problems faced by the Ethiopian textile industry, Mr. Taddesse said regular power interruptions, costly import of equipments, and shortage of inputs deter the development of the sector.
During the first quarter, 58 new medium textile factories went operational. In addition, large textile companies like Etur Textile Plc and Angels Addis are also likely to operate at higher capacities during the remaining part of the year.
The Growth and Transformation Plan (GTP) of the Ethiopian Government aims at earning textile export revenue of US$ 1 billion by 2014-15 and creating 40,000 new jobs in the process.

Fibre2fashion News Desk - India

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