Ethiopia has earned 137.7 million US dollars from the export of manufactured goods in the last six months according to the Ethiopian Ministry of Industry.
The income was earned through the export of leather and leather products, agro processing, textile and garment, and chemical and pharmaceutical products according to Melaku Taye Corporate Communication Director, with the MoI.
The revenue earned from the manufacturing sector is increasing all the time with the amount earned over the last six months exceeding that of the same period last year by more than 56.7 million US dollars noted Melaku.There are different efforts being exerted to increase earnings from foreign trade through investment promotion, increasing the supply of raw materials, establishing a modern and fast customs system and enhancing market ties locally and globally he said.
Challenges facing the sector include limited supply of raw materials, absence of experience personnel, lack of market networks and long periods of time required before new industries can enter the production phase explained Melaku.
The Ministry of Industry has being offering the support required in discovering markets, facilitating finance and credit, logistics, capacity building and ensuring practices that will enable the Ethiopian manufacturing sector to become competitive on the international market he added.
The manufacturing sector is expected to earn 471 million US dollars in revenue by the end of this fiscal year said Melaku.
Source: Ethiopia News Agency
