In Ethiopian textile and apparel sector, presently there are 60 companies, out of which 32 are foreign companies are operating. In the past nine months the Ethiopiaâ€™s textile export earning has shown significant decline by generating only USD 65 million against the set target of USD110 million for the period.
Commenting on the issue Taddese Haile, State Minister for Industry, said that the slip was because of low performance, failure to expand market and business administrative issues of larger companies.
He further added that low quality and quantity along with investment projectsâ€™ failure to commence production as per planned are also other reasons for the decline in performance.
According to Ethiopian Textile Industry Development Institute, income generated in the 9 months has dropped by 18 million USD when compared to the same period last year.
The sector has the advantage of high quality cotton that is grown in the country, as well as duty free access to US through the African Growth and Opportunity Act (AGOA) and the EU market.
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
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