Exports of Egyptian ready-made garments surged to $2.27bn from January to October 2024, a 17% increase compared to $1.94bn during the same period in 2023, according to Fadil Marzouk, Chairperson of the Apparel Export Council of Egypt. Marzouk attributed this growth to a rise in foreign investments in Egypt's garment sector, primarily from countries such as China, Vietnam, Turkey, and India, alongside increased local investments and factory expansions by Egyptian manufacturers. He expressed optimism about the sector's future, predicting sustained growth over the next decade due to ongoing investments, the expansion into new export markets, and the implementation of strategic development plans. The US remained the largest importer of Egyptian ready-made garments, with exports to the market increasing by 14% to $971m, up from $848m during the same period last year. The European Union also emerged as a significant growth driver, with exports climbing by 31% to $531m, compared to $407m in 2023, making it the second-largest market for Egyptian garments. Exports to Arab countries also saw a notable rise, increasing by 11% to $409m from $368m during the same 10-month period. Looking ahead, Marzouk revealed the council's target to achieve an annual export growth rate of at least 20% in 2025, aiming for $3.3bn by year-end. This will be supported by continued collaboration with government agencies and efforts to enhance the sector's competitiveness on the global stage.
