Latest news with #Marzouk
Egypt Today
3 days ago
- Business
- Egypt Today
Egypt's Garment Exports Jump by 25 Percent in April
CAIRO – 1 June 2025: Egypt's ready-made garment exports rose sharply by 25 percent in April 2025, reaching $223 million, up from $179 million in April 2024, according to a statement released by the Garments Export Council. The Council reported that total exports for the sector between January and April 2025 amounted to $1.028 billion, marking a 22 percent increase compared to the same period last year. This growth underscores Egypt's strengthening position in the global textile market. The United States retained its status as the largest importer of Egyptian garments, with total imports reaching $384 million, reflecting an 11 percent rise from $345 million during the same period in 2024. European countries came in second, with exports increasing by 39 percent to $259 million, compared to $186 million a year earlier. Exports to Arab countries also posted a 6 percent gain, totaling $190 million, up from $180 million in the corresponding period of the previous year. One of the most notable trends was the 101 percent growth in exports to non-Arab African markets, signaling a significant expansion into new African destinations. At the same time, exports to other global markets climbed by 50 percent, reaching $190 million, compared to $127 million in the same period of 2024. Commenting on these figures, Fadel Marzouk, Chairman of the Ready-Made Garments Export Council, stated that the export performance reflects a positive trajectory and the gradual recovery of the sector. He attributed this progress to rising global demand, broader market outreach, and the Council's continuous efforts to improve the competitiveness of Egyptian garments on the international stage. Marzouk also emphasized that the Council is targeting an annual export growth rate of 30 to 35 percent, supported by training programs, expansion of the SME base, increased promotion in international markets, and continued work to remove obstacles facing exporters.
Daily News Egypt
4 days ago
- Business
- Daily News Egypt
Egypt's garment exports surge 22% to surpass $1bn in 4M 2025
Egypt's ready-made garment (RMG) exports soared by 22% during the first four months of 2025, reaching $1.028bn compared to $840m during the same period in 2024, according to the latest report by the Apparel Export Council of Egypt (AECE). The council's data showed a strong monthly performance, with exports in April 2025 alone rising by 25% year-on-year to $223m, up from $179m. March also posted significant growth, with exports increasing by 23% to $254m. The United States remained Egypt's top export destination, with imports totaling $384m between January and April, marking an 11% increase from $345m in the same period last year. Europe followed as the second-largest market, with imports jumping 39% to $259m, up from $186m. Exports to Arab countries grew modestly by 6%, reaching $190m, while exports to African nations (excluding Arab states) recorded the highest growth rate—skyrocketing by 101%. Exports to other global markets also surged by 50%, totaling $190m compared to $127m during the same period in 2024. Fadel Marzouk, Chairperson of the AECE, attributed the sector's robust performance to a combination of improved global demand, a broader export base, and the council's focused efforts to open new markets and diversify demand sources. He emphasized that this growth confirms the effectiveness of the council's strategy, which aims to increase exports by 30–35% annually. Marzouk highlighted that the strong results reflect intensive efforts to enhance the competitiveness of Egyptian apparel. These include training initiatives, support for small and medium-sized enterprises (SMEs), international promotion campaigns, and the resolution of export-related challenges. Looking ahead, Marzouk said the AECE plans to double exports by 2031, targeting $12bn in annual garment exports. This goal will be pursued through expansion into new African and Asian markets, capitalizing on Egypt's preferential trade agreements, and boosting value-added production. Key components of the strategy include modernizing production lines and establishing two new textile and garment cities in Fayoum and Minya. He also stressed the importance of continued government support, particularly through export rebate programs, streamlined logistics, and greater access to affordable financing. These factors, he noted, are critical for strengthening Egypt's export capacity and enhancing its ability to generate foreign currency.
Egypt Today
05-05-2025
- Business
- Egypt Today
Egypt's Ready-Made Garment Exports Surge 24% in Q1 2025, Reaching $812M
CAIRO- 5 May 2025: Egypt's ready-made garment exports saw a notable increase in the first quarter of 2025, rising by 24 percent to reach $812 million, up from $656 million in the same period last year, according to the latest data from the Apparel Export Council of Egypt (AECE). This growth reflects the continued expansion of Egypt's garment sector, bolstered by a combination of global demand and targeted efforts to enhance competitiveness. February saw a particularly strong performance, with exports soaring 35 percent to $276 million, compared to $205 million in February 2024. January also recorded steady growth, with exports rising by 11 percent to $274 million, up from $246 million the previous year. The United States remained the largest market for Egyptian garments, with exports rising by 12 percent year-on-year to $299 million. Europe followed closely behind, with a 43 percent increase, reaching $206 million in Q1. The export growth was widespread across various regions. Exports to Arab countries surged by 49 percent to $148 million, while exports to non-Arab African nations experienced the highest growth rate, climbing by 121 percent. Exports to other global markets also rose by 49 percent, mirroring the performance seen in the Arab region. Fadel Marzouk, Chairperson of the AECE, credited the positive results to a comprehensive strategy aimed at boosting Egypt's global competitiveness in the garment sector. Key initiatives have included offering technical training for producers, supporting small and medium-sized enterprises (SMEs), enhancing marketing efforts abroad, and addressing export-related challenges. These measures have strengthened Egypt's position in the international market. Looking ahead, Marzouk reaffirmed the AECE's goal of achieving 35 percent export growth by the end of 2025, with the ambitious target of doubling garment exports to $12 billion by 2031. This growth will be driven by expanding into African and Asian markets, leveraging Egypt's trade agreements, and focusing on higher value-added production. As part of this strategy, the AECE is working on modernizing production lines and developing two integrated textile and garment cities in Fayoum and Minya to support the sector's long-term development.
Zawya
05-05-2025
- Business
- Zawya
Egypt's ready-made garment exports jump 24% in Q1 2025 to $812mln
Egypt's ready-made garment exports rose sharply by 24% in the first quarter (Q1) of 2025, reaching $812m, up from $656m in the same period last year, according to data from the Apparel Export Council of Egypt (AECE). The council reported a particularly strong performance in February, with exports jumping 35% to $276m, compared to $205m in February 2024. January also saw steady growth, with exports rising by 11% to $274m, up from $246m in the previous year. The United States remained the top destination for Egyptian garments, with exports rising 12% year-on-year to $299m. Europe followed, registering $206m in Q1 exports—up 43% from $144m a year earlier. Exports to Arab countries surged by 49% to reach $148m, while exports to non-Arab African countries posted the highest growth rate of 121%. Exports to other global markets also rose by 49%, mirroring the performance seen in the Arab region. This strong showing reflects the continued recovery and expansion of Egypt's garment export sector, driven by growing global demand and successful market diversification efforts. The AECE attributed the results to its strategy of entering new markets and diversifying export destinations. Fadel Marzouk, Chairperson of the AECE, said the positive momentum reflects intensive efforts to boost the global competitiveness of Egyptian garments. These include initiatives to support producers and exporters through technical training, SME development, enhanced marketing efforts abroad, and resolving key export-related challenges. Marzouk reaffirmed the council's target of achieving 35% export growth by the end of 2025 and highlighted an ambitious goal of doubling exports to $12 billion by 2031. This would be achieved through expansion into African and Asian markets, leveraging Egypt's trade agreements, and focusing on higher value-added production. Key components of this strategy include the modernization of production lines and the development of two integrated textile and garment cities in Fayoum and Minya. He also noted ongoing collaboration with government entities to support the sector, particularly in the areas of export rebates, shipping and logistics facilitation, and improved access to affordable financing—all aimed at boosting foreign currency inflows through a stronger export base. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. ( Daily News Egypt
Daily News Egypt
05-05-2025
- Business
- Daily News Egypt
Egypt's ready-made garment exports jump 24% in Q1 2025 to $812m
Egypt's ready-made garment exports rose sharply by 24% in the first quarter (Q1) of 2025, reaching $812m, up from $656m in the same period last year, according to data from the Apparel Export Council of Egypt (AECE). The council reported a particularly strong performance in February, with exports jumping 35% to $276m, compared to $205m in February 2024. January also saw steady growth, with exports rising by 11% to $274m, up from $246m in the previous year. The United States remained the top destination for Egyptian garments, with exports rising 12% year-on-year to $299m. Europe followed, registering $206m in Q1 exports—up 43% from $144m a year earlier. Exports to Arab countries surged by 49% to reach $148m, while exports to non-Arab African countries posted the highest growth rate of 121%. Exports to other global markets also rose by 49%, mirroring the performance seen in the Arab region. This strong showing reflects the continued recovery and expansion of Egypt's garment export sector, driven by growing global demand and successful market diversification efforts. The AECE attributed the results to its strategy of entering new markets and diversifying export destinations. Fadel Marzouk, Chairperson of the AECE, said the positive momentum reflects intensive efforts to boost the global competitiveness of Egyptian garments. These include initiatives to support producers and exporters through technical training, SME development, enhanced marketing efforts abroad, and resolving key export-related challenges. Marzouk reaffirmed the council's target of achieving 35% export growth by the end of 2025 and highlighted an ambitious goal of doubling exports to $12 billion by 2031. This would be achieved through expansion into African and Asian markets, leveraging Egypt's trade agreements, and focusing on higher value-added production. Key components of this strategy include the modernization of production lines and the development of two integrated textile and garment cities in Fayoum and Minya. He also noted ongoing collaboration with government entities to support the sector, particularly in the areas of export rebates, shipping and logistics facilitation, and improved access to affordable financing—all aimed at boosting foreign currency inflows through a stronger export base.
