Home textiles sector exports hit $600mn in 2016: Egypt’s Council

The total exports of Egypt’s home textiles sector reached around US$600 million in 2106, Undersecretary of state’s Home Textile Export Council (HTEC), Hamdy El-Tabakh stated Friday.

The official made these remarks during council’s meeting with Egyptian participant firms that took part in the International Trade Fair for Home Textiles, Floor Coverings and Interior Furnishings-Heimtextil 2017.

The meeting targeted discussing the performance of participant firms as well as the influence of government’s move to float exchange rate of the Egyptian pound on exports volume.

El-Tabakh clarified that liberalising exchange rate has positively affected sector’s exports as 70 percent of materials used in manufacturing are being imported.