Business
Ethiopia exports almost $124m worth of manufactured goods
December 27, 2011 · 15 Comments
ADDIS ABABA — Ethiopia earned 123.8 million US dollars in revenue from the export of manufactured goods in the last five months according to the Ministry of Industry. The revenue earned by the manufacturing sector exhibited a 95.5% year on year increase according to Melaku Taye Public Relations Director to the ministry.
The revenue was acquired from the export of chemicals, agro processing, pharmaceuticals, leather products and textiles and garments said Melaku.
The textile sector showed an 80.5% year on year increase in revenue he explained. Textile exports during the financial period secured 38.8% of total revenue from the manufacturing sector noted Melaku.
It is to be remembered that the Ethiopian Textile Industry Development Institute announced 27.2 Million US dollars from textile exports in the first quarter of the current fiscal year.
The revenue was 87% more than the target set for this period according to a press statement made by the Institute. The revenue is also 18.6 million US dollars more than the amount earned in the same period last fiscal year.
A significant percentage of the money earned was generated by garments, weaving products and yarn according to the press statement. Aika Addis Textile and Investment Group, Elsie Addis Textile factores and Kombolcha Textile Share Company were major contributors to the increase in revenue the statement explained.
Ethiopia News Agency
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By Sahra Farah
Tags: Ethiopia, exports, garments, leather, pharmaceuticals, textiles
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Well done Ethiopia! Couple this significant imporvment in the economy with real Democracy and sky will be the limit.
Ethiopia is the oldest African nation and most backward one too. The reason is they abuse human rightan destroy each other. Ethiopian will suffer more because they leased their most fertile to Saudi billionaire. Can you imagine how Ethiopian will suffer? Can you imagine the Saudis how they abuse their victims? Ethiopian government intentions are distractive and lethal.
not really the oldest but one of the oldest like Somalia where they found the cave painting that date back to10,000BC so get you facts right
his talking about ethiopia as a nation/country somalia was not a nation 10.0000bc
ethiopia cant even feed itself the EU uses the berbera port for its ethiopian aid program ,both the EU and the US give ethiopia food aid worth 2 billion dollars thats all they get food aid !
I would not buy anything "Made in Ethiopia" or manufactured there, unless it is a bag full of qat.
Ethiopia is becoming the most powerful nation in east Africa in terms of economy, population, infrastructure, development, human capacity, stability, and militarily. The little Somaliweyn (greater Somalia) is shattered forever and the Ogaden ragtags are almost under control.
This development and news of course angers the usual Ethiopia-phobic pro-Somaliweyn Lala dreamers. They all high on qat and wont thank the people who grow it for them.
God bless Ethiopia, the most multicultural and diverse nation on earth not only in Africa. Ethiopia is home to more ethnic groups than any where else on earth.
Ethiopian manufactures made $124million in five months, how much did Somalia manufacturers made in the last twenty years? hahahahahaha….they only produced Dadaab refugee camp, even plastic tents are provided to them….Ethiopia was starving nation in 1970s, today its Somalia.
Ethiopian export of $124m is nothing because Ethiopian population is almost 75m hungry mouth. I don't know how you as Somali could believe what you wrote. Kayse be you age. Ethiopia leased the best fertile land in Ethiopia to Saudi billionaire. Have seen any other country which the citizens are starving and foreigners are prospering. Everything in Ethiopia are for sale.
Somalia will come back better then Ethiopia, Somali people are Muslim we Believe ALLAH, peace will come prosperity will come inshaallah, Somalia will be unite inshaALLAH.
I agree with you Mr.Kayse, but the current government and the person on the helm, are shooting themselves in leg, by ignoring the peaceful entity of Somaliland. Look back when each Somali was the enemy of Ethiopia, and see it now. They should materialize this and think of the future. They should recognize Somaliland before it's too late. I remember, Meles sought the advise from Elite Military; old politicians, historians and every heavyweight scholar in Ethiopia in late 1990s, and they all agreed and send their feedback to him, which they sum up: recognize Somaliland!.
Is Mr. Zenawi lacking of farsightedness? Or he has some other agenda? Why he is not considering to have a peaceful sovereign, democratic neighbourhood like Somalliland?. Is he blindly ignoring the twar mongering Eritrea, Shabaab and weak TFG around him? It's a million dollar question, and hope someone [in Ethiopia] will come forward with answer us.
Somaliland is part of Somalia and noo country can recognize region with in a country, so stop dreaming the only solution Somaliland have is to set down and south when they get good government, otherwise you will be isolate, so the best way is to set down with south.
poor brothers,, Ethiopia sees S/L as another meal in waiting.Everybody abhor equality,why should a neighbour wake you up in a region that is very rich in resources and volatile.if you survive the partitioning of Somalia and behave as 2 class member of international community may be then you may get some bat at the back from your neighbours.
my advise is built your army and throw your weight around more often.train your youth militarily your very existence as Somaliland is in danger and rushing to false unity is not the answer,because you do not share the same vision and purpose.
I feel very sorry to witness the cushitic people like me suffer because of Saudi billionaire is going to treat them like slaves in their own country.
Somalianders should began to buy more Ethiopian manufactured products, to replace the amount of Qat money spends their and consumed in Somaliland. That will be a winning situation for both countries, if Somaliland spends the same amount of money into valuable Ethiopian products rather than the poisonous Qat.
Somalilanders are better off with quality Chinese technology and textiles.