Attributing the increase to robust global demand and the improving competitiveness of the sector, AECE chairperson Fadel Marzouk said the sector is targeting exports worth $4.4 billion by the end of this year. New investments are expected to further strengthen production and export capabilities, he noted.
Exports in Egypt’s readymade garments sector rose by 11 per cent YoY to reach $299 million in January, according to the Apparel Export Council of Egypt.
Shipments to the US rose by 16 per cent YoY to $118 million, while exports to the EU increased by 26 per cent YoY to $132 million in the month.
The sector is targeting exports worth $4.4 billion by the end of this year and $12 billion by 2031.
Shipments to the United States rose by 16 per cent YoY to $118 million, while exports to the European Union increased by 26 per cent YoY to $132 million in the month.
The council aims to boost exports by 22–25 per cent annually over the next five years, targeting shipments worth $12 billion by 2031, he was quoted as saying by domestic media outlets.
However, he cautioned that ongoing geopolitical tensions in the Middle East could pose challenges to production and export targets in the near term.
Fibre2Fashion News Desk (DS)
