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15% increase in exports in first five months of 2018 - Daily News Egypt

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15% increase in exports in first five months of 2018

UK, UAE, Spain, Russia, US, Turkey are most prominent countries receiving Egyptian exports, says GOEIC report


The Minister of Trade and Industry Amr Nassar, said that the Egyptian non-oil exports have achieved significant increases over the past period, up until May 2018, by 15%, compared to the same period in 2017.

Non-oil exports have recorded $10.966bn this year, compared to $9.512bn last year.

The total volume of foreign trade has achieved a noticeable improvement by 12.5%, recording $37.562bn compared to $33.361bn during the same period of 2017.

This came in the report the minister received from the foreign trade data warehouse at the General Organization for Export and Import Control (GOEIC) on the development of Egyptian exports during the period from January to May of last year.

The minister stressed that the ministry is keen on opening more markets and expanding traditional markets to make maximum use of the agreements Egypt signed with countries across the world, pointing out that the positive indicators of the Egyptian trade abroad reflect the ministry’s success in implementing its strategy.

Nassar pointed out that there are several export sectors that have seen improvement over the first five months of this year, including chemicals and fertilizers, which resulted in a great leap in the volume of exports.

The exports of the sector of chemicals and fertilizers reached $2.155bn, compared to $1.722bn, during the same period of 2017, with 25.2% increase.

Handicraft exports reached $93m compared to $79m previously, achieving an increase of 17%, while the exports of ready-made garments amounted to $646m compared to $575m previously, with a 12.4% increase.

The exports of construction materials amounted to $2.560bn compared to $2.312bn, during the same period of last year, with 10.7% increase, the minister explained.

He went on to explain that the exports of the sector of textile and weaving reached $380m compared to $353m, during the period from January to May of this year, achieving 8% increase.

The exports of electronic engineering goods reached $993m, compared to $960m with 3.4% increase. The exports of agricultural products achieved an increase of 6.4%, reaching $1.264m compared to $1.187m previously. Medical exports reached $191m compared to $180m during the same period of last year, achieving 6% increase.

For his part, Ismail Gaber, the head of the GOEIC, said that the most important markets receiving Egyptian exports during the first five months of this year included the markets of Agadir agreement. The value of Egyptian exports to the countries of the agreement amounted to $622m compared to $484m, during the same period of last year, with 28.5% increase.

As for Egyptian exports to African countries, they reached $1.705bn compared to $1.353bn during the same period last year, achieving an increase of 16%.

Egyptian exports to the markets of the European Union reached $3.68bn compared to $2.568bn, during the same period last year, with an increase of 19%.

Gaber explained that the most important countries to receive Egyptian exports during the period from January to May included the UK, US, UAE, KSA, Spain, Italy, and Russia.

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https://dailyfeed.dailynewsegypt.com/2018/07/03/15-increase-in-exports-in-first-five-months-of-2018/
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