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Exports surge 3 pct. in first 9 months of year
28 October 2019  -  Organization :  -  Sector/Entity :  -  Category : General

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Exports registered $19.201 billion during the first 9 months compared to $18.708 during the same period in 2018.

Cairo- Oct 28, 2019

Minister of Trade and Industry Amr Nassar announced that non-oil exports surged 3% year on year to around $19.201 billion in September, up from $18.708 billion, based on a recent report by the ministry’s General Organization for Export and Import Control (GOEIC).

The report also stated that imports fell slightly to $52.399 billion during the same period compared to $52.575 billion a year earlier.

“Thanks to a solid economic recovery, Egypt is well on its way back on the global trade map,” Nassar said commenting on the report. “The coming period will witness more efforts aiming to boost exports to markets around the world.”

Ismail Gaber, head of the GOEIC, said that the four sectors of textiles, engineering industries, readymade garments and medical products were the key drivers behind export growth in the first nine months of the year; rising 10%, 9%, 7% and 3% respectively.

On the other hand, imports of leather products, construction materials, chemicals, agricultural products and furniture witnessed a decrease of 28%, 14%, 7%, 5% and 7% respectively in the first 9 months of 2019.

It also sited the top 6 markets that received 37% of total Egyptian exports in the January-September period were: US, UAE, Saudi Arabia,Turkey,Italy and UK; whereas China, US, Germany, Italy, Russia and Turkey were the largest exporters to Egypt, exporting 46% of the country’s total imports during the same period.

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