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Egypt's exports of ready-made garments hit $456M in FY 2019/20: report

Egypt's exports of ready-made garments hit $456M in FY 2019/20: report

Cairo:  The Ready-Made Garments Export Council (RMGEC) announced on Monday that exports of the sector increased by 11 percent during the first quarter of the current fiscal year (FY 2019/20) to reach $456 million, compared with $409 million during the same period in the past fiscal year (FY 2018/19).

In its monthly report, the council said that the exports of the sector to the US achieved an increase of 27 percent, recording $263 million in the first quarter of 2019, against 207 million dollars during the same period of 2018.

Meanwhile, Egypt's exports to Europe declined by 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 dollars in the same period of 2018, the report noted.

The report showed that Germany came in the first place among European countries buying Egyptian garments, with imports of $26 million. Source MENA

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