By Nihal Mounir
Revenues from Egyptian exports increased by 6 per cent in November 2012 gaining EGP 9.8 billion. This is compared to EGP 9.2 billion in November 2011, and is the second highest monthly increase of its kind this year.
Revenues from exports increased in September by 14 per cent, reaching EGP 11.68 billion, compared to EGP 10.17 in 2011.
Total revenues from exports in 2012 decreased by 2 per cent, compared to 2011, from EGP 119.88 to EGP 117.09, according to a report by the Public Authority of Monitoring Imports and Exports.
The authority stated that the number of Egyptian exports from January to November 2012 constituted 90 per cent of the country’s targeted goal of EGP 130 billion by the end of 2012.
Revenues from furniture exports reached EGP 1.796 billion for 2012, compared to EGP 1.586 billion in 2011. Revenues from furniture exports for the month of November reached EGP 120 million, compared to EGP 88 million in 2011.
Proceeds from exported medical supplies rose to EGP 236 million for November 2012 compared to EGP 182 million for 2011, while revenues from exports in Egypt’s hide industry rose from EGP 54 million in November 2011 to EGP 77 million for the same month in 2012.
Hisham Gazar, president of the Export Council of Hides, attributed the rise in exports to recent decisions made by Minister of Industry and Foreign Trade, Hatem Saleh, aimed at blocking illicit smuggling to foreign markets. This had previously led to an increase in hide headed for local markets within Egypt, and a decrease in the country’s official exports.
Revenues from agricultural exports from January to November 2012 dropped by EGP 755 to EGP 9.104 billion, compared to EGP 9.824 for the same period in 2011. In November 2012, proceeds reached EGP 755 million, compared to EGP 438 for the same period in 2011.
Industrial exports revenues from January to November 2012 rose to EGP 13.298 compared to EGP 13.197 for the same period in 2011. Income from exports for the month of November in 2012 reached EGP 1.254 billion, compared to EGP 1.041 billion in 2011.
Despite a rise in revenues from EGP 332 million to EGP 431 million in yarn and textile exports in November 2012 compared to 2011, exports as a whole from January to November 2012 compared to the same period in 2011 dropped from EGP 4.820 to EGP 4.468 million.
Revenues from chemical exports from January to November 2012 compared to the same period in 2011 increased from EGP 24.773 to EGP 25.466 billion. Revenues from November 2012 exports compared to 2011 exports also rose from EGP 1.168 to EGP 2.168 billion.
Revenues from the export of building supplies from January to November 2012 compared to the same period in 2011, witnessed a sharp drop from EGP 32.097 to EGP 29.924 billion. This came despite an increase in the amount of revenues from from EGP 2.310 to EGP 2.848 million in November 2012 exports, compared to the same month in 2011.
According to the report, Libya’s share of Egyptian exports increased the most from January to November 2012 compared to the same period in 2011, from EGP 2.552 to EGP 8.137 billion.
Hani Qesis, President of the Export Council for Chemical Supplies, attributed the rise in the number of Egyptian exports headed for Libya to the relative stability of the country since 2011, in addition to recent development plans to rebuild the country’s infrastructure.
Saudi Arabia had the second largest increase in its amount of imported Egyptian goods, reaching EGP 10.858 billion from January to November 2012.
The Turkish market saw a one per cent increase in the amount of its Egyptian imports from January to November 2012, compared to EGP 6.488 billion to EGP 6.546 billion in the same period in 2011.