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Egypt chemical industry exports grow 22% in Q1 2021 - Daily News Egypt

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Egypt chemical industry exports grow 22% in Q1 2021

Country’s exports have recorded 8% growth rate in the quarter, says GOEIC


Egypt’s chemical industries exports in the first quarter (Q1) of 2021 have recorded a growth rate of 22%, according to the General Organization for Export and Import Control (GOEIC).

The rise came as exports increased from $1.249bn to $1.53bn in Q1 of 2020.

A monthly report by GOEIC noted that in March 2021, chemical industries exports recorded a growth rate of 17% over the same month in 2020. The volume of exports registered approximately $529m in March 2021, compared to nearby $451m in March 2020.

The report highlighted that total Egyptian exports have recorded an 8% growth rate in Q1 of 2021, with exports amounting to $7.688bn in the quarter, compared to $7.142bn in the same period last year.

According to the report, exports of plastics and rubber products witnessed a growth rate of 50% during the period from January to March 2021, as exports rose from $430.6m to $647.5m.

Meanwhile, fertiliser exports witnessed a slight increase in the growth rate of 5%, increasing from $384m to $403m. Exports of inorganic chemicals increased by 30%, as they recorded an increase of $116.23m compared to $89.54m, while organic chemical exports witnessed a growth rate of 51%, increasing from $48m to $72.3m.

Detergent exports witnessed a 3% decline in growth rate, declining from $62.55m to $60.68m, while inks and paints exports increased 21%, with exports of these products rising from $47.72m to $57.72m.

However, paper and cardboard products exports decreased by 7%, as they declined from $61.48m to $57m.  Exports of glass products also witnessed a decline, seeing a growth rate of 3%, as exports retreated from $59.97m to $48.41m.

Turkey ranked first on the list of importing countries for Egyptian chemical industries exports in March, with value of $90m. It acquired about 17% of Egypt’s total exports from chemical industries, ensuring Turkey achieved a growth rate of 31% in March 2021 compared to March 2020.

The US ranked in second in terms of Egyptian exports, with a value of $40.475m in March 2021. This reflected an increase of 2% compared to the volume of exports during the same month of last year, as exports by Egypt’s chemical industries to the US grew to about 8% of the total Egyptian exports.

Italy came in third place with value of $36.097m, a growth rate of 5%, whilst Spain came in fourth place, with imports reaching $28m, reflecting a growth rate of 25%. Meanwhile, Belgium came in fifth place, with imports valued at $27.33m a growth rate of 172%.

Saudi Arabia ranked sixth, with imports recording $21.069m and a growth rate of 8%, while Libya ranked seventh, with imports registering $19.48m and a growth rate of 70%.

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https://dailyfeed.dailynewsegypt.com/2021/05/22/egypt-chemical-industry-exports-grow-22-in-q1-2021/
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