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Egypt's non-oil exports surge 19% in 5M 2021: Trade Minister - Daily News Egypt

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Egypt’s non-oil exports surge 19% in 5M 2021: Trade Minister

US, Saudi Arabia, Turkey, Italy, UAE, and UK are most important markets for Egyptian exports


Egypt’s Minister of Trade and Industry Nevine Gamea has announced that the country’s non-oil exports recorded a significant increase of 19% in the first five months of 2021.

They reached $12.323bn during this time period, compared to approximately $10. 375bn in the same period in 2020.

Gamea added that Egyptian exports surged by 50%in May 2020, amounting to $2.288bn, compared to $1.522bn in May of 2020.

The minister noted that Egyptian imports also recorded a slight increase of 10% in the first five months of this year, registering $29.161bn, compared to $26.422bn in the same period in 2020.

She pointed out that the geographical distribution of Egyptian exports during the reporting period included: the European Union (EU), with a value of $3.885bn; the Arab League, with a value of $3.719bn; Africa, excluding the Arab countries, with a value of $661m; the US, with a value of $852m; and other markets with a value of $3.206bn.

The Egyptian Government’s economic reform programme represents a basic pillar in achieving positive growth rates, especially in productive projects. These effects are positively reflected on increasing export rates and providing new job opportunities, Gamea disclosed.

Ismail Gaber, Head of the General Organization for Export and Import Control (GOEIC) said that the top 10 receiving markets for Egyptian exports in the first five months of this year included: the US, with a value of $852m; Saudi Arabia, with a value of $788m; Turkey, with a value of $786m; Italy, with a value of $709m; Malta, with a value of $507m; the UAE, with a value of $432m; the UK, with a value of $408m; Libya , with a value of $365m; Sudan, with a value of $320m; and Germany with $309m.

Gaber said that the top 10 exporting countries to the Egyptian market in the first five months of 2021 included: China, with a value of $5.128bn; the US, with $2.550bn; Germany, with $1.685bn; Russia, with $1.325bn; and Turkey, with $1.377bn. Italy followed, with a value of $1.117bn; India with $1.66bn; Saudi Arabia with $875m; Brazil with $800m; and the Ukraine with a value worth $772m.

Topics: non-oil exports

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https://dailyfeed.dailynewsegypt.com/2021/06/20/egypts-non-oil-exports-surge-19-in-5m-2021-trade-minister/
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