Key Reasons for Investing
- Among Ethiopia’s abundant resources is a large cattle population whose skins and hides are the basis for some of the world’s best leather.
- Since 1992, over 40 international investors have established leather and leather product companies in Ethiopia supplying to some of the most important international brands such as Guess and Clavin Klein.
- Average Ethiopian salaries in leather factories are only US$35 per month, which is about ten times as low as those of Chinese workers.
- Exports of leather, which were practically non-existent in 2003, were worth US$23 million in 2012.
- Italy’s total imports from Ethiopia rose by 82% over the course of 6 years, from US$21.7 million in 2005 to US$39.4 million in 2011; while China’s rose 120% in the same period, from US$12.5 million in 2005 to US$27.5 million in 2011. The United Kingdom and India rank third and fourth, respectively, as destinations for Ethiopian processed leather.