Leather industry is among the major manufacturing industry sub-sectors that Ethiopia has a comparative advantage in the export market. Analyzing the overall trend and seasonal variations in the export prices of the sector will help to make appropriate production planning. The objective of this study was to conduct time series analysis of monthly export price of leather products from Kombolcha tannery during January, 2005 to December 2016. Secondary data on monthly export prices was obtained from the tannery. Univariate time series model was used to analyze the data. The Autoregressive integrated moving average and Generalized Autoregressive Conditional Heteroscedasticity approach was used to forecast monthly export prices of leather in Kombolcha tannery. GARCH (1,1) model was identified as a reasonable model to handle volatility and predict the export price of leather. Based on the fitted GARCH (1,1) model monthly export prices of leather were forecasted from January 2017 to June 2018. The forecasted results obtained from GARCH (1,1) model showed that export leather prices are expected to increase from January 2017 to June 2018 with some fluctuations as a result of volatility.