The Ethiopian Manufacturing Sector has earned an income of 72 million US dollars in the first quarter of the current fiscal year according to the Ministry of Industry.

Ethiopia has set out to acquire 471.2 million US dollars in revenue from leather, agro-processing, textile, chemical and pharmaceutical sectors this budget year according to Melaku Taye, Communication Director for the MoI.  The revenue registered for the first quarter exceeded that earned in the same time period of the last fiscal year by 104.4% explained Melaku.

The revenue earned by the manufacturing year has shown an increase year after year according to Melaku.  Efforts are being exerted to sustain the increase in revenue from the sector through supplying of inputs, promoting of investment, applying a transparent and modern system, increasing market ties and offering capacity building trainings he added.

The MoI is particular striving to offer necessary support in seeking markets, organizing logistics, promoting the availability of credit and finance said Melaku. The Ministry aims to enhance the competitiveness of the sector in the global market through conducting feasibility studies he added.

The manufacturing sector in Ethiopia is faced with various challenges including shortages in input materials, absence of managerial experience and skills, lack of an established market network and the increasing decline of the price of unfinished textile goods according to Melaku.

Source: Ethiopia Press Agency