Textile: Turkiye's apparel & fabric imports from Egypt up
The recent efforts of Turkiye and Egypt to normalise their bilateral relations will help the two countries boost their mutual trade potential, especially amid the financial crisis in Egypt. Turkiye’s imports of apparel from Egypt increased significantly in 2022, however, its exports of apparel to Egypt witnessed a decline in the same year.
During a high-level visit to Cairo after a decade of strained ties, Turkish foreign minister Mevlut Cavusoglu and his Egyptian counterpart Sameh Shoukry discussed various issues. Turkish companies pledged to invest about $500 million in Egypt to help the country overcome its financial crisis, according to local media reports. Turkish companies are active in various sectors, including textiles.
Meanwhile, Turkiye's apparel imports from Egypt increased to $126.176 million in 2022, up from $70.887 million in 2021. The inbound shipment had declined to $78.150 million in 2019 from $132.871 million in 2018, and further decreased to $75.691 million in 2020, according to Fibre2Fashion's market insight tool TexPro.