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 mn in Egypt to help the country overcome its financial crisis, according to report. Turkish companies are active in various sectors, including textiles.
Meanwhile, Turkiye’s apparel imports from Egypt increased to $126.176 mn in 2022, up from $70.887 mn in 2021. The inbound shipment had declined to $78.150 mn in 2019 from $132.871 mn in 2018, and further decreased to $75.691 mn in 2020, according to market report.
On the other hand, apparel exports from Turkiye to Egypt decreased to $119.973 mn in 2022, down from $139.551 mn in 2021. The outbound shipment was $110.661 mn in 2020, $120.895 mn in 2019, and $94.908 mn in 2018.
Fabric imports by Turkiye also jumped to $281.061 mn in 2022 from $185.165 mn in 2021. It was noted at $163.991 mn in 2020, $182.886 mn in 2019, and $180.967 mn in 2018. However, fabric exports from Turkiye to Egypt recorded the opposite trend, decreasing to $150.202 mn in 2022 from $158.723 mn in 2021. The exports of fabric were $96.030 mn in 2020, $143.112 mn in 2019, and $157.058 mn in 2018, as per market report.
Both countries have negligible trade of fiber, even though Egypt is known for its fine quality cotton.
