- Egypt aims to raise the value of its textile exports to $12 billion by 2025, chairman of the Textile Export Council of Egypt told Mubasher.
During the first quarter of 2019, the North African country’s textile exports registered $800 million, lower than expectations, especially after the float of the Egyptian pound in November 2016, Magdi Tolba added.
On average, textile exports reach about $3 billion per year, he revealed, noting that there are a plethora of challenges facing the sector, capped by training and upgrading as well as lack of finance.
Textile exports grew slightly to a number of markets including Algeria, Nigeria, Bangladesh, Turkey, France, Germany, Poland, and Spain, he added.
In 2018, Egypt’s exports totalled $25 billion, rising by 11.6% from $22.4 billion in 2017, according to data released by the cabinet.