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[Egypt] Garment exports record 54% increase in January 2022

[Egypt] Garment exports record 54% increase in January 2022

Head of the Apparel Export Council of Egypt (AECE) Marie Louise revealed that garment exports recorded a remarkable growth in January 2022, with a 54% increase to reach $204m, compared to $132m in January 2021.

In press statements on Sunday, Louise added that the US topped the countries receiving Egyptian products with a value of $123m in January 2022, compared to $78m — an increase of 57% — followed by European markets which received clothing with a value of $37m, compared to $28m — a growth rate of 31%.

She pointed out that exports to Arab countries recorded $25m, compared to $14m — an increase of 83% — and clothing exports to non-Arab African countries recorded $109,000, compared to $318,000 — down by 66%. Exports to the rest of the world, however, amounted to $19m, compared to $12m — an increase of 58%.

There are attempts to open new markets through cooperation with Egyptian Commercial Service (ECS) offices in all nearby countries to increase the volume of exports to them — especially to Arab countries — in light of the Russian-Ukrainian crisis, which may negatively affect exports of ready-made garments, especially to the US.

Louise also announced that the council will continue its efforts during 2022 to increase Egyptian exports, and to this end, Egyptian exhibitors succeeded during the Magic Show — which was held in Las Vegas, US, from 13 to 16 February 2022 — to set up an Egyptian pavilion that includes 14 companies from the apparel sector.

Additionally, the council held bilateral meetings with 150 foreign buyers and succeeded in providing 30 export opportunities for companies that did not participate in the exhibition.

She pointed out that the council’s efforts resulted in providing four export opportunities for the ready-made garment sector to Spain through coordination with the Commercial Representation Office in Madrid, adding that the council’s continued endeavours to increase exports have resulted in a 42% jump in exports that brought in more than $2bn for the first time.

www.dailynewsegypt.com

 

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