ICEC

Egyptian ready-made clothes exports drop by 16% in 6 months

Egyptian exports of ready-made clothes dropped by 16 percent during the first half of 2016 to US$591 million from US$703 million a year earlier.

According to the latest statistics on exports of ready-made clothes, the exports volume declined by 21 percent in June 2016 to US$95 million opposed to US$120 million at June 2015.

In May 2016, exports of the sector decreased by 20 percent since they recorded US$97 million compared to US$122 million a year earlier.

Meanwhile, the total exports of the sector sagged by 17 percent to US$95 million in January 2016 versus US$115 million in January 2015.

During the first quarter of 2016, exports of ready-made clothes sector fell by 15 percent to US$293 million opposed to US$345 million a year earlier.

Meanwhile, during the second quarter of 2016 ready-made clothes exports decreased to US$298 million from to US$358 million at the same period of 2015, marking 17 percent drop.

The statistics stated that U.S. imports of Egyptian ready-made clothes reached US$307 million during the first half of 2016, versus US$377 million a year earlier, registering 18.5 percent drop.

Egypt’s exports to EU states recorded US$184 million compared to US$205 million , making a 10 percent decline, the statistics showed.

According to the statistics, Egyptian ready-made clothes exports to Arab states shrunk by 35 percent in January-June 2016 to US$24 million opposed to US$37 million at the same period of 2015.

The total volume of Egyptian ready-made exports to other states edged down by 10.5 percent from US$85 million to US$76 million during the first six months of 2016.

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