Egypt’s ready-made clothes exports drop 13%, hit $819mn in 8 months

Egyptian exports of ready-made garments dropped by 13.6 percent during the first eight months of 2016.

The total volume of exported ready-made clothes recorded US$819 million in January-August 2016 opposed to US$948 million at the same period of 2015.

In August 2016, Egyptian ready-made clothes exports fell to US$106 million from US$122 million in August 2015, declining by 12.9 percent.

The latest report released by state’s main statistics body Central Agency For Public Mobilization And Statistics (CAPMAS) stated that May 2016 witnessed a sharp decline in volume of ready-made clothes exports since it recorded US$98 million versus US$122 million in May 2015, making a 19 percent drop.

Following May, January 2016 witnessed a 17 percent decline in the volume of Egyptian ready-made clothes as it reached US$96 million compared to US$115 million in January 2015.

According to the report, U.S. seized 51.3 percent of the total volume of Egyptian ready-made garments exports in January-August 2016 despite the 18 percent drop.

Egypt’s exports of read-made clothes registered around US$420 million opposed to US$509 million at the same period of 2015, the report clarified.

It also stated that the Egyptian exports of ready-made clothes to European Union states reached US$260 million in January-August 2016 compared to US$286 million, marking a 9 percent fall.

Meanwhile, Egyptian exports of ready-made clothes to other states all over the world decreased by 8 percent to US$140 million during the first eight months of 2016 from US$152 million a year earlier.