EGYPT CLOTHING EXPORTS DOWN BECAUSE OF RED SEA CRISIS – BUT EXPORTERS OPTIMISTIC ABOUT 2024 H2 REBOUND
January 31st, 2024
The disruption to shipping through the Red Sea by Yemen’s Houthi militants is having a mixed impact on the Egyptian garment exporting industry – a key European near-sourcing hub. On the one hand shipping rates have increased, and the import of raw materials from east Asia has been impacted; while on the other hand, there has been an uptick in orders from European clients to take advantage of Egypt’s proximity to Europe, without running the gantlet of Houthi attacks.
Egypt exported USD2.43 billion’s worth of garments in 2023, down by 2% on 2022, with the ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.