“According to CAPMAS, a government-run statistics agency, the RMG sector is worth 75% of the Egyptian textile and garment industry, with home textiles constituting 12% and cotton yarn 8%. The remaining 5% is attributed to other cotton fabrics and textiles .Although only six textile and RMG companies made this year’s bt100 list, the industry is growing rapidly and its export numbers are multiplying. Egypt’s RMG sector was worth LE 5.75 billion in 2007. T-shirts and other tops constituted 42.3% of total sector exports, followed by women’s suits at 13.8% and men’s suits at 12.9%. In 2007, industry exports as a whole — including building materials, minerals, metals and textiles, among others — amounted to 32% of the country’s GDP. Among Egypt’s exporting sectors, RMG now ranks sixth and was the second fastest growing sector last year according to the bt100X list. Although total sales of RMG outside Egypt grew by just 1.1% in 2007, the 11 RMG exporters that made the bt100X list grew by 63.74% to LE 3.80 billion (up from LE 2.3 billion in 2006), constituting 66% of 2007’s total RMG exports.Source: Business Today.com
Date:6/16/2008
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