Ethiopia earns $60mn from textile & garment exports in 6M

Ethiopia exported US$ 60 million worth of textiles and apparel during the first six months of the fiscal year 2013-14 that began on July 8, 2013, according to the Textile Industry Development Institute (TIDI).

The exports were $15 million higher than the amount earned during the corresponding period of the previous fiscal year, the Ethiopian News Agency reported quoting TIDI director Sleshi Lema.

TIDI is supporting Ethiopian textile and clothing industries to realize the $1 billion target set for the sector during the Growth and Transformation Plan (GTP) period (2010-11 to 2014-15).

However, the performance of the Ethiopian textile and apparel exports during the first three years of GTP period is only $305 million, much below the $637 million envisaged during the period under the GTP.

According to Mr. Lema, shortage of quality cotton is one of the factors that impends the growth of the domestic industry, which relies on import of cotton.

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. The textile and apparel sector in Ethiopia comprises more than 100 companies.

Source : fibre2fashion.com