The printing, engineering, leather and furniture sectors were among the key drivers of export growth in September.
Cairo- Oct 17, 2021
Minister of Trade and Industry Nevine Gamea has announced that non-oil exports grew 16% year on year during the month of September to around $2.560 billion, up from $2.212 billion, based on a recent report.
On the other hand, imports witnessed a significant decline by 7% in the same period from a year ago, registering $ 4.914 billion, compared to $5.297 billion.
"Thanks to relentless efforts by the Ministry of Trade and Industry, Egypt has managed to achieve a remarkable export rise and keep production rolling amid the COVID-19 crisis," Gamea said commenting on the report, noting that trade deficit narrowed 24% to around $2.353 billion.
Geographically-speaking, exports to the EU posted $739 million, the US $ 205 million, Africa -excluding Arab countries- $171 million, and other markets $686 million, increasing 60%, 52%, 31% and 16% respectively.
Ten sectors were the key drivers behind export growth in September, including: printing, packaging and literary works ($91 million), engineering and electronics ($324 million), leather ($7 million), linens ($57 million), ready-made garments ($176 million), chemicals and fertilizers ($469 million), medical industries ($55 million), agro-food industries ($107 million), textiles ($81 million), food ($326 million), with respective increases of 76%, 34%, 33%, 26%, 21%, 18%, 11%, 11%, 9% and 6%.
According to the report, Egyptian exports during September were destined for the US, Saudi Arabia, Turkey, Italy, Malta, the UAE, Spain, Britain, Northern Ireland, Libya and Sudan; while China, the US, Germany, Turkey, Italy, Russia, India, the UAE, Saudi Arabia, Brazil and Argentina were the largest exporters to Egypt.