Ethiopia managed to hit only 56.6 percent of the target it set for the export of manufactured goods during the first 6 months of the current fiscal year. This was disclosed by the Ahmed Abitew, Minister for Industry, during his 6 months report presentation to the House of Peoples’ Representatives (HPR).
During the period, Ethiopia earned only 198.5 million USD from the sector while it aimed for 349 million USD, Ahmed explained.
The revenue generated has increased by 3.9 percent when compared to the same period last year, the Minister added.
According to Fana Broadcasting Corporation, the failure to meet the target was attributed to decline in garment, leather and meat products export. Price fall at the global market is also mentioned as one of the reasons.
The Ministry aimed to generate 913.6 million USD from the export of manufactured goods during this fiscal year, Ahmed explained.
Source: Fana Broadcasting Corporation
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