Related Keywords: cotton textiles, currency control tightened, Egypt biggest manufactured exports, exports of garment plummeting, focus on spinning, garments and textiles, Minya project, new city dedicated to textiles manufacturing, pound against the dollar, pricing its products out of international market, suffered badly since central bank began pegging
Egypt’s biggest manufactured exports are garments and textiles. The industry suffered badly since the central bank began pegging the pound against the dollar after Egypt’s uprising in 2011, pricing its products out of the international market. The problem became more acute as currency controls tightened over the past couple years, with exports of garments plummeting by 14.7 percent in the year to end of June and those of cotton textiles by 7.2 percent, according to central bank figures.
