Ready-made garments exports fell 12% in nine months: Egypt’s council

Egyptian exports of ready-made garments fell in January-September 2016 by 12 percent to US$922 million from US$1.05 billion a year earlier.

Head of state’s Ready-made Garments Export Council (RMGEC), Mohamed Kassem stated Tuesday that ready-made clothes sector witnessed a slight decline in exports volume in September 2016 as they recorded US$76 million from US$103 million in September 2015, falling by 26 percent.

The United States seized 44.7 percent of total Egyptian ready-made garments exports by the end of third quarter of 2016, the official noted.

He stated that U.S. imports of Egyptian ready-made clothes dropped by 17 percent to US$470 million opposed to US$570 million by the end of third quarter of 2016.

During the first quarter of 2016, Egyptian exports of ready-made clothes decreased by 16 percent to US$294 million compared to US$350 million a year earlier, Kassem pointed out.

The chairperson clarified that Egypt’s ready-made clothes exports to EU states declined by 7 percent during the first nine months of 2016 from US$317 million to US$295 million. In addition, state’s exports to other states recorded US$157 million opposed to US$165 million, making a 5 percent fall.

According to RMGEC report, Egypt’s exports of ready-made clothes to Poland soared 200 percent in January-September 2016 to US$2.83 million opposed to US$940,000 at the same period of 2015.

Similarly, Egyptian exports of ready-made garments to Mexico hiked during the first nine months of 2016 to US$4.33 million compared to US$2.23 million, marking a 94 percent increase.