The textile and garment sub-sector, which forms part of the Ethiopian manufacturing sector as a whole, failed to meet the projected export earnings target during the Ethiopian fiscal year that ended on July 7, 2012.
The textile and garment sub-sector, which forms part of the Ethiopian manufacturing sector as a whole, failed to meet the projected export earnings #
As against initial estimates of US$ 471.3 million, the manufacturing sector only earned US$ 255.4 million in exports during last year. Though below projections, the earnings still came to be 22.8 percent higher than the sector’s previous fiscal’s earnings.
The textile and garment sub-sector, which forms part of the Ethiopian manufacturing sector as a whole, failed to meet the projected export earnings #
Most of the sub-sectors only made up to 49.4 percent to 63 percent of the projected earnings.
The textile and garment sub-sector, which forms part of the Ethiopian manufacturing sector as a whole, failed to meet the projected export earnings #
During the fiscal year, the textile and garment sub-sector brought in US$ 84.6 million, far below the projected target of US$ 171.4 million. However, as per the Ministry of Industry (MoI) report, the sector’s earnings indicated a 36 percent rise over previous fiscal’s earnings.
The textile and garment sub-sector, which forms part of the Ethiopian manufacturing sector as a whole, failed to meet the projected export earnings #
Melaku Taye, Director of the Corporate Communications Directorate at the Ministry, said several challenges like supply scarcity, poor quality of raw materials and dearth of skilled man power held back the manufacturing sector from achieving the projected targets.
The textile and garment sub-sector, which forms part of the Ethiopian manufacturing sector as a whole, failed to meet the projected export earnings #
Textile exports in particular were hit by slump in prices of cotton, yarn, knitted garments and finished garments on world market, the MoI report stated.
The textile and garment sub-sector, which forms part of the Ethiopian manufacturing sector as a whole, failed to meet the projected export earnings #
Ayka Addis Textile and Investment Group alone contributed about 71 percent of the textile industry’s overall earnings for the period.
The textile and garment sub-sector, which forms part of the Ethiopian manufacturing sector as a whole, failed to meet the projected export earnings #
Ayka Textile is a vertically integrated textile manufacturer, covering spinning, knitting, dyeing and sewing facilities located initially in Turkey. To be competitive in the global market, the company realized a need to invest in Ethiopia and constructed a vertically integrated subsidiary the Ayka Addis Group, which is operational since 2010. Today, the Group is one of the biggest FDI in Ethiopia.
The textile and garment sub-sector, which forms part of the Ethiopian manufacturing sector as a whole, failed to meet the projected export earnings #
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