The Ethiopian government has reported US$29 million in export earning from the textile sector for the first, quarter of the current fiscal year, Fortune reported.

The earning exceeded by over 50 percent the US$19 million earned during the same period a year ago.

The Ethiopian Textile Industry Development Institute (ETIDI) expects factories to boost their production, in order to achieve the US$500 million export revenue target for the fiscal year.

In addition to the 58 medium textile factories that entered the sector during the past quarter, the government is placing its hope on new large manufacturers like Angel's Addis and Etur Textile in to achieve its target.

Currently there are 110 textile companies in Ethiopia.

Source: Fortune