ETHIOPIA generated $390 million in export revenue from the manufacturing industry sector over the past nine months, the country’s Ministry of Industry has disclosed.
The revenue marked 87 percent of the initial target that was set by the East African country from the sector, state-affiliated Fana Broadcasting Corporate (FBC) reported on Sunday.
Despite promising growth registered in Ethiopia’s manufacturing sector recently, the sector is, however, struggling due to lack of adequate supply, challenges associated with infrastructure deficit, lack of trained manpower as well as financial constraints, FBC quoted Melaku Alebel, Ethiopia’s Industry Minister, as saying.
The minister stressed that efforts are underway to find sustainable solutions to the existing challenges and bring the affected industries back to operations.
Alebel said the government has prioritised the manufacturing industry sector as a key national development area, with various incentives to lure new foreign direct investment while supporting existing manufacturing industries.
Earlier this month, the Ethiopian Ministry of Trade and Regional Integration said the country had generated $2.52bn in revenue from exports over the past eight months.
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