Ethiopia’s earning from the leather export has declined, Ethiopian Leather Industry Development Institute (LIDI) disclosed.

Commenting on the issue the Institute’s Director General, Wondu Legesse, said the target for the 9 months of current fiscal year was 129 million USD. Yet the country only managed to collect 86.3 million USD, which is a mere 60 percent of the target.

Comparing the performance to last year’s same period, the revenue from the sector declined by 42.9 million USD.
According to Fana Broadcasting Corporate, the decline in the income are attributable to the current prices fall at the global market, lack of quality skins and power supply problems.

Tadesse Haile, State Minister of Industry, revealed his concern about the decline in export earnings for there are new leather factories joining the sector. Stakeholders needed to join hands with the government in order to address the challenge the sector is facing, he added.

Source: Fana Broadcasting Corporate