Ethiopian textile & garment exports earn $84mn in 9 months
Addis Ababa, 23 April 2014 (WIC) - Ethiopia exported US$ 84 million worth of textiles and apparel during the first nine months of the ongoing fiscal year 2013-14 that began on July 8, 2013, according to the Textile Industry Development Institute (TIDI).
The exports were $9.8 million higher than the amount earned during the corresponding period of the previous fiscal year, Ethiopian News Agency reported quoting TIDI communications director Bantihune Gesesse.
Germany, Turkey, Italy, Sudan, China and the US were the main destinations for Ethiopian textiles and clothing items during the nine-month period.
Although the value of textile and garment exports is higher when compared to the previous fiscal year, it is short of the yearly target.
Under the Growth and Transformation Plan (GTP), the Ethiopian Government has targeted to achieve $1 billion in exports of textiles and apparel during 2010-11 to 2014-15 period.
However, the performance of the Ethiopian textile and apparel exports during the first three years of GTP period was only $305 million, much below the $637 million envisaged during the period under the GTP.
In 2012-13, Ethiopian textile and clothing exports fetched US$ 99 million, which was much lower than the Government target of US$ 357 million for the financial year.
During the nine-month period of 2013-14, only 16 companies together accounted for more than 80 percent share in export of textiles and apparel, according to TIDI.
There are over 100 companies operating in the Ethiopian textile and clothing sector. TIDI has set a target of $250 million for textile and apparel exports during the current financial year. (fibre2fashion.com)
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