ADDIS ABABA – Ethiopia has earned a total of 140 million US dollars in the past eleven month period of the current 2020/21 Fiscal Year, according to the country’s Textile Industry Development Institute.
The announcement was made during a consultative meeting that evaluated the sector’s performance during the period, according to a report by Fana Broadcasting.
Companies managed to export their products worth 140 million US dollars to the international market which has been affected by the Coronavirus pandemic, Sileshi Lemma, director of the institute, told the meeting held in the Town of Debere Birhan.
The institute mentioned the United States, Canada, Turkey, German and Italy as top destinations for Ethiopian made textile products.
The amount of products exported to the foreign market has reduced from 90 percent, last year, to 60 percent, this year, due to challenges posed by the pandemic, the director said.
The institute said the country is now exerting its effort to produce 170, 000 tonnes of cotton covering 150, 000 hectares of land, and resolve the sector’s challenge related to manufacturing inputs.
The east African nation collected over 171 million US dollars from the textile and garment product export during the previous 2019/20 fiscal year.