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Exports rise 22 pct, imports 11 pct in 7 months
21 August 2021  -  Sector :  -  Entity :  -  Category : Trade News

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Egyptian exports witnessed an increase of 4% to $2.95 billion, shipments to US jump 51% during the month of July.

Cairo- Aug 21, 2021

Minister of Trade and Industry Nevine Gamea has announced that non-oil exports grew 22% year on year in the first seven months of 2021 to around $17.701 billion, up from $14.552 billion, based on a recent by the General Organization for Export and Import Control

“The export growth is thanks to persistent efforts by the government to support the productive and export sectors during the Covid-19 crisis,” Gamea said, noting that Egyptian exports witnessed an increase of 4% during the month of July to $2.95 billion.

Similarly, imports rose slightly by 11% in the same period from a year ago, registering $42.396  billion, compared to $38.89  billion.

Geographically-speaking, exports to the EU posted $5.574 billion, Arab League countries $5.356  billion, Africa -excluding Arab countries- $1.7  billion, the US $1.290  billion and other markets $4.474  billion, rising 46%, 2%, 26%, 51%, 25% respectively.

According to the report, 12 sectors were the key drivers behind export growth in the January-July period, among which are: medical industries ($382 million), leather ($47 million), engineering industries and electronics ($1.685 billion), furniture ($145 million), ready-made garments ($1.83 billion), chemicals and fertilizers ($3.481 billion), with an increase of 43% 54% 45% 19% 44% and 37% respectively.

It also indicated that during the first seven months of the year, Egyptian exports were destined for the markets of the US, Saudi Arabia, Turkey, Italy, the UAE, Malta, Britain and Northern Ireland, Libya, Spain and Sudan, with respective values worth $1.29 billion, $1.116 billion, $1.81billion, $999 million, $726 million, $715 million, $597 million, $509 million, $609 million and $459 million.

On the other hand, the top 10  exporters to Egypt over the same period were: China, US, Germany, Turkey, Russia, India, UAE, Saudi Arabia, France, and Ukraine with values amounting to $7.582  billion, $3.336 billion, $ 2.441 billion, $2.1 billion, $1.875 billion,  $1.623 billion, $1.359 billion, $1.216  billion, $1.17 billion and $1.14 billion respectively.


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