Egypt’s ready-made garment exports 11% up in Q1-FY20 – report

Egypt’s exports of ready-made garments rose 11 percent to $456 million during he first quarter of the 2019/2020 financial year, said Ready-Made Garments Export Council (RMGEC) said on Monday.

Ready-made germant exports earlier recorded $409 million during the first quarter of the 2018/2019 financial year.

“The sector’s exports to U.S. increased 27 percent to $263 million during the first quarter of 2019 from $207 million during the same period in 2018,” the council said in its monthly report.

Meanwhile, Egypt’s exports to Europe declined 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.

Source: MENA