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Egypt’s RMG exports to grow to $3 billion by 2024

  

Egypt’s readymade garments exports are likely to grow to $3 billion by the end of 2024. As per projections by the Readymade Garment Export Council, this ambitious target will be supported by continuous efforts to enhance production capabilities, improve product quality, and expand market reach.

According to Marie Louis, Head, Readymade Garment Export Council, exports from the clothing sector amounted to approximately $1.08 billion during this period, compared to about $912 million in the same period last year. This marks a substantial year-on-year increase of 19 per cent.

Egypt’s RMG exports to the European Union countries increased by 25 per cent to $254 million from January to May 2024. This growth underscores the strong demand for Egyptian textiles in Europe and the competitive edge of Egyptian manufacturers in this market.

Exports to the United States rose by 10 percent, totaling $444 million during the same period. The steady growth in the US market highlights the sustained appeal and reliability of Egyptian ready-made garments among American consumers.

Export revenue from the Arab countries grew by 38 per cent to $217 million during this period. Within this category, exports to Saudi Arabia surged by a staggering 74 per cent to $64 million. This significant increase reflects the strengthening trade relations and rising demand for Egyptian clothing in the Gulf region.

Several strategic initiatives contributed to this growth trajectory. These include government policies aimed at boosting the textile sector, investments in modernising manufacturing facilities, and efforts to open new markets through trade agreements and promotional activities.

The textile industry is a cornerstone of Egypt's economy, providing employment and driving economic growth. The recent increase in exports not only reflects the sector's resilience but also its capacity to compete on a global scale.

 
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