Addis Ababa (WIC)Ã‚Â Ã¢â‚¬â€œ Ethiopia has obtained 111.1 million USD from export of leather products over the course of eleven months of the budget year, Leather and Industry Development Institute (LIDI) disclosed.
Of the total revenue, nearly 92 million USD was obtained from 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 export of raw hides and skins as of last budget year. Instead, the government opted to build 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 export 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 export this budget year.