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Friday, 06 December 2019

Egypt's exports of ready-made garments hit $456 mln in FY 2019/20: Report

Germany came in first place among European countries buying Egyptian garments, with imports of $26 million

MENA , Tuesday 19 Nov 2019
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Egypt’s Ready-Made Garments Export Council (RMGEC) announced on Monday that the sector’s exports increased by 11 percent during the first quarter of the current fiscal year (FY 2019/20) to reach $456 million, compared with $409 million during the same period in the past fiscal year (FY 2018/19).

In its monthly report, the council said that the sector’s exports to the US achieved an increase of 27 percent, recording $263 million in the first quarter of 2019, against $207 million during the same period of 2018.

Meanwhile, Egypt's exports to Europe declined by 2 percent to register $137 million, the report added.

As for garment exports to Arab countries, they went up by 35 percent, recording $18 million in the first quarter of 2019, compared to $13 million in the same period of 2018, the report noted.

The report showed that Germany came in first place among European countries buying Egyptian garments, with imports of $26 million.

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