Egyptian exports during August reached $1.667bn (EGP 11.917bn), increasing by 24.88% compared to the same month last year, a Ministry of Industry and Foreign Trade report said Tuesday.
In the preceding month, exports totalled $1.4bn, approximately EGP 10.06bn, with the report adding that exports to date represent around 60.53% of the total $25bn exports’ target for the year.
Discussing the yearly target, exports of furniture, medical industries, leather goods and agricultural goods all exceeded the set expectations. Exports of food industries, engineering and electricity goods, weaving, chemical and construction material, however, fell short for the exportation target.
Focusing on August’s exportation target, all goods fell short, aside from the agricultural products and the readymade garments.
During August, Arab League states were the highest recipient of Egyptian exports followed by the US, Sub-Saharan countries and the European Union.
According to a previous General Organization for Export and Import report, Saudi Arabia became the primary recipient of general Egyptian exports during the first five months of 2014, with exports reaching EGP 6.384bn. Italy was the second top recipient overall of Egyptian exports, while Turkey and the US placed third and fourth, respectively.
Last month, Chairman of the Agricultural Products Council (APEC) Omar Eissa told Daily News Egypt that Egyptian exporters have started negotiations with their Russian counterparts on supplying agricultural products.
Eissa said that Russia is the top non-Arab importer of Egyptian agricultural products, and is the second largest importer of Egyptian agricultural products after Saudi Arabia.