Ethiopia Earns $104 Mln from Leather Exports

Ethiopia earned over 104.1 million dollars from the export of leather, 73 percent less than its target of 180.4 million dollars for the last fiscal year, the Ethiopian Leather Industry Development Institute (LIDI) said.

The exports revenue came from 43 leather and leather products factories which include 22 tanneries, 15 leather footwear firms, and six leather enterprises, which exported their products to the United States and countries in Africa, Asia and Europe.

The institution also said that 22 tanneries had brought in export revenues amounting to 95.3 million dollars earned from the sale of crust and finished leather.

The Anbessa Shoe Factory earned 37 million birr from exports which exceeds last year's earnings by 26 million birr according to the company.

About 50 million dollars out of the 104 million dollars the country earned was brought in by Mojo Leather Factory, Kolba Leather Factory, Dire Leather Industries, Ethio Leather Industry, and Ethiopia Leather Factory.

About 5.9 million dollars was collected from three of the 15 leather footwear firms namely Tikur Abay Shoe Factory, Anbessa Shoe Factory and Ara Shoe Factory whose contribution accounts for 66.3 percent of the total revenues from the leather footwear companies.

Source: Fortune

Exchange Rates

USD 21.4055  20.9858 
GBP 32.1939  31.5563 
EUR 22.6599  22.2093 
CHF 21.7841  20.3706 
CAD 16.0618  15.7409 
AED 5.8284  5.7129