EGYPT LOOKS TO FIRM UP LOCAL SUPPLY CHAIN AS IT EYES FUTURE CLOTHING SALES IN EUROPE AND AMERICA
November 23rd, 2022
The Egyptian garment and textile sector has rebounded from the dip caused by the Covid-19 pandemic, with orders returning in 2021 and exports strong in the first half of 2022. Sluggish consumer demand in the country’s primary export markets of the USA and Europe has however seen orders weaken over the past third 2022 quarter. Also, the falling Egyptian pound - EGP (USD1 bought EGP15.74 in March 2022, EGP 24.6 in November 2022) and rising inflation (16.2% in October) is slowing domestic investment.
“The past year has been very good in exports, but since June ...
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