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Egypt’s non-oil exports in eight months reached $16.54bn: Nassar - Daily News Egypt

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Egypt’s non-oil exports in eight months reached $16.54bn: Nassar

External trade exchange rose by 11.8%, recording $59.68bn during first eight months of 2018, up from $53.34bn in same period in 2017


The Minister of Trade and Industry Amr Nassar, announced during a press statement that Egyptian non-oil exports rose by $1.54bn, which is about 10% year-over-year, during the period from January to August 2018, recording $16.54bn, up from $14.99bn during the same period of 2017.

This came according to the latest report received by the minster from the General Organisation for Import and Export Control (GOEIC) on the flow of the exports and imports.

On the other hand, Nassar explained that Egyptian non-oil imports increase by 12%, reaching $43.14bn during the first eight months of 2018, compared to $38.35bn during the same period a year earlier.

“The external trade exchange rose by 11.8%, recording $59.68bn, during the same aforementioned period of 2018, up from $53.34bn in the same aforementioned period in 2017.

In terms of geographical distribution of the non-oil foreign trade, the minister pointed out that the trade exchange with African countries, Arab countries extracting from them during the first eight months of this year increase by 19.5%, registering $1.633bn compared to $1.366bn during the same period last year, an increase of $267m.

The trade exchange between Egypt and Arab countries increased by 9%, reaching $8.902bn, up from $8.158bn during the first eight months of 2018, an increase of $744m, Nassar stated further.

In terms of the trade exchange with the European Union (EU) during the same aforementioned period, it witnessed an increase of 3.9%, recording at $18.338bn, compared to $17.651bn, during the same period in 2017, an increase of $687m.

For his part, Ismail Jaber, chairperson of the GOEIC, said that the largest markets receiving Egyptian exports during the first eight months of this year were the United Arab Emirates with a value of $1.515 m, Turkey with a value of $1.390bn, Italy with $1.24bn, Saudi Arabia with $932m, US with $957m, UK with $702m, Spain with $632m, Algeria with $541m, Germany with $459m, France with $462m, Jordon with $393m, and Russia with $338m.

Furthermore, Jaber stated that the sectors that witnessed a significant growth in exports during the first eight months of this year included chemicals and fertilisers, handicrafts, medical industries, textiles, in addition to exports of building materials.

The sectors that recorded an increase in the volume of imports during the first eight months of this year included the furniture sector, leather products, and construction materials.

Notably, the minister previously revealed that Egypt’s non-oil exports rose by 14.3%, recording $14.89bn during the first seven months of this year, compared to $13.25bn during the same period a previous year.

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https://dailyfeed.dailynewsegypt.com/2018/09/30/egypts-non-oil-exports-in-eight-months-reached-16-54bn-nassar/
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