Ethiopia earns $75 million from textile export in first eight months
Addis Ababa, Ethiopia -Â The Ethiopian Textile Industry Development Institute disclosed Thursday that it has enjoyed an encouraging response from the export performance of the textile sector after amassing USD 75.28 million in the first eight months of the fiscal year from the international market.
According to the institute, this year’s export performance surged by USD 9.9 million (15.1 percent) from the same reported period of the previous year. The Director of Corporate Communication Directorate of the Institute, Banteyihun Gessesse, told The Reporter that this year’s achievement for the growth in export performance is mainly attributed to the volume and quality of the products of the textile-manufacturing sector.
According to Banteyihun, most of the products that were sent to the international market have been particularly destined to Europe, US, Asia and Africa.
Among several local and foreign-owned companies engaged in the production of textile, the Turkish textile giant, Ayka Addis, was mentioned for taking the lion’s share of the already earned 75.28 million dollars of exported products.
The export components of these textile products that were sent to the international markets consist of untailored garments, spine and woven, tailored garments and woven products.
Source: The Reporter
