Leather export earns nation 111.1 mln USD

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Ethiopia has obtained 111.1 million USD from the export of leather products over the course of eleven months of the budget year, the Leather and Industry Development Institute (LIDI) disclosed. Of the total revenue, nearly 92 million USD was obtained from the export of finished leather products, according to Birhanu Serjebo, Corporate Communication Director of LIDI.
Compared to the same period last year, the revenue has grown by 11.9 million USD, Birhanu said.
The government put a ban on the export of rawhides and skins as of the last budget year. Instead, the government opted to build the technological capabilities of leather factories in Ethiopia to export processed leather products only.
As a result, finished leather earned the nation 91.8 million USD, while exports of leather shoes obtained the nation nearly 16.7 million USD, Birhanu said.
The institute has projected to obtain 226.9 million USD from leather exports this budget year.
(Walta Information Center)