Ethiopia earned 123.8 million US dollars in revenue from the export of manufactured goods in the last five months according to the Ministry of Industry. The revenue earned by the manufacturing sector exhibited a 95.5% year on year increase according to Melaku Taye Public Relations Director to the ministry.
The revenue was acquired from the export of chemicals, agro processing, pharmaceuticals, leather products and textiles and garments said Melaku.
The textile sector showed an 80.5% year on year increase in revenue he explained. Textile exports during the financial period secured 38.8% of total revenue from the manufacturing sector noted Melaku.It is to be remembered that the Ethiopian Textile Industry Development Institute announced 27.2 Million US dollars from textile exports in the first quarter of the current fiscal year.
The revenue was 87% more than the target set for this period according to a press statement made by the Institute. The revenue is also 18.6 million US dollars more than the amount earned in the same period last fiscal year.
A significant percentage of the money earned was generated by garments, weaving products and yarn according to the press statement. Aika Addis Textile and Investment Group, Elsie Addis Textile factores and Kombolcha Textile Share Company were major contributors to the increase in revenue the statement explained.
Source: Ethiopia News Agency
