Egypt's RMG exports up 19% YoY to exceed $1 bn in Jan-May 2024

13 Jul '24

1 min read

Egypt's RMG exports up 19% YoY to exceed $1 bn in Jan-May 2024

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Insights

Egypt's exports of readymade garments (RMG) rose by 19 per cent YoY between January and May to hit $1.08 billion.
Such exports rose by 25 per cent YoY to EU nations to hit $254 million and by 10 per cent to the US to reach $444 million during the period.
RMG exports to Arab countries during the period were worth $217 million—a growth of 38 per cent YoY.

Egypt's exports of readymade garments (RMG) increased by 19 per cent year on year (YoY) in the January-May period this year to hit $1.08 billion compared to about $912 million during the corresponding period last year, head of the Readymade Garment Export Council Marie-Louis recently said.

RMG exports increased by 25 per cent YoY to European Union (EU) nations during the period to $254 million. The EU is the second largest market for Egyptian RMG.

RMG exports increased by 10 per cent to the United States to $444 million during the period, while such exports to Arab countries were worth $217 million—a growth of 38 per cent YoY, domestic media outlets reported.

Egypt’s RMG exports to Saudi Arabia increased by 74 per cent YoY to reach $64 million during the period.

The country’s Clothing Export Council, meanwhile, expects RMG exports to reach $3 billion by the end of the year.

Fibre2Fashion News Desk (DS)

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