Egypt’s Exports To US 13% Down… Imports From Israel 10% Up

According to QIZ protocol, the Egyptian exports of ready-made garments to the USA dived by 13% throughout the period from January to November 2012, to record EGP 4.2 billion; compared to EGP 4.8 billion at the same period in 2011.

On the other hand, the Egyptian imports of textile from the Israeli market, pursuant to QIZ, hiked by 10% throughout the period from January to November 2012 to record EGP 225 million; compared to EGP 204 million in 2011.

For his part, Mohamed Kasem, Chairman of Ready-made Garments Export Council, told “Amwal Al Ghad” that the decline of the US demand on the Egyptian production of ready-made garments is a natural result of the crisis the US economy as well as Euro-zone economies are suffering.

Kasem has assured that the decline of QIZ exports doesn’t mean the decline of QIZ protocol’s role in reactivating the trade between Egypt and the US, but it is a result of temporary crisis.