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Egypt Textiles and Clothing Report Q4 2009Published by: Business Monitor International Published: Sep. 14, 2009 - 46 Pages Table of Contents
AbstractEgypt is a medium-sized textiles and clothing (T&C) producer, with a comparative advantage in highgradecottons and the potential to compete effectively on international markets. BMI ranks it as number34 in the world in terms of T&C manufacturing value added. In nominal terms, we estimate that to havebeen worth US$4.06bn in 2008. Medium- to large-scale companies dominate the industry with a strongpublic sector presence in spinning and weaving. Egyptian exports have faced strong competition fromAsian producers, but the creation of Qualifying Industrial Zones (QIZs) under an agreement with the USand Israel since 2005 has given the country duty-free access to the US market. In 2007, exports totalledUS$2.02bn against imports of US$2.04bn. In that year, the country had a US$510mn clothing tradesurplus and a US$532mn textiles trade deficit. BMI expects the current global economic downturn tohave an adverse effect on the industry, with sales and output set to decline this year and next.Overall Egyptian T&C value added will fall by 7.6% in 2009 and by 3.1% in 2010, reflecting verydifficult international economic conditions. We see a moderate recovery setting in from 2011 with growthof 2.5%. The industry’s trade performance will also reflect the especially difficult international economicsituation. We see T&C exports falling by 7.7% in 2009 to US$2.17bn and remaining broadly flat thefollowing year, up by 0.1% to US$2.18bn. Get Full Details About This Report >> |
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