Egyptian Ready-made Garments Export Council (RMGEC) plans to raise sector’s exports by ten percent to hit US$1.4 billion by the end of 2017, council’s Head stated Monday.
Speaking to Amwal Al Ghad, Mohamed Kassem said that exports of ready-made clothes sector dropped by 10 percent in 2016 to US$1.250 billion from US$1.386 billion in 2015.
The official added that the council plans to increase sector’s exports to the USA and Europe since the USA seized 50.2 percent of the total exports in 2016.
The total exports of ready-made clothes sector dropped by 16 percent during the first quarter of 2016 to US$295 million opposed to US$350 million at the same period of 2015.
By the end of 2016, Egyptian exports of ready-made garments to European Union states declined to US$405 million compared to US$421 million in 2015.
Meanwhile, Egypt’s exports of ready-made clothes to other states recorded US$216 million in 2016 opposed to US$214 million in 2015, making a humble increase of one percent.