Ethiopia earned 115.4 million USD in the past fiscal year from the export of leather and leather products. This was disclosed by Leather Industry Development Institute (LEDI).
According to Birhanu Serjabo, Director for Corporate Communication Directorate, said the institute managed to achieve only 42.33 percent of the target it has set for the fiscal year. The target was to earn 272.7 million USD from the export of finished leather, shoes, leather glove, leather clothes and leather articles.
According to Walta Information Center, limited capacity, insufficient and low quality of raw material, slowing down of the international market and traditional way of production were said to be among the reason for failing to meet the target.
From the entire income generated, shoes, leather clothes and articles made up much of it.
In the aim of improving the sub sectors performance, the Institute claims to be working with embassies to increase product destinations and also maximize productivity of factories by equipping them with the latest technologies.
After resolving the challenges the sub sector faced this year, the Institute planned to earn 280 million USD, Birhanu explained.
In related topic, George Shoes Factory, Huajian shoes Factory and Anbessa Shoes Factory were finalizing preparations and expansions, the Director explained.
[www.2merkato.com]