Ethiopia has earned more than 101 million US dollars from leather exports in just the last eleven months announced the Leather Industry Development Institute.
The revenue was earned from the export of leather products to Asia, African and European countries as well as the United States said Berhanu Serjebo, Director of the Corporate Communication Director with the LIDI.
The sum earned from the sector in the reporting period is close to the 104 million US dollars generated in the previous financial year.The revenue for this year may be lower than the projected figures but will be higher than what was earned in the previous budget year said Berhanu. It was projected that national income from the leather sector this year would be 206 million US dollars.
The leather industry launched the export of finished leather products in December of 2011 which has helped supplement the income the country gets from the sector although it’s below projection.
The sector is showing significant potential to generate income for the nation in the aftermath of the ban placed on the export of raw hides and semi-processed leather he noted.
Leather and leather products factories as well as tanneries and footwear produces have been able to effectively implement the directive which allows them to earn more value from their products added Desta.
Ethiopia produces 2.7 million hides and more than 15 million skins every year according to Ministry of Agriculture estimates.
Source: Walta Info