ICEC

Egypt’s chemical exports jump 26 percent in H1

Egypt’s chemical exports jumped 26 percent to $2.94 billion in the first half of 2018, compared to $2.05 billion in the corresponding period  of 2017, according the Chemicals & Fertilizers Export Council (CEC).

Chairman of the Council Khalid Abul Makarem  told Amal Al Ghad that the chemicals sector is still the highest export sector achieving the rates of export growth during the current year.

The chairman indicated that the council is getting ready for a meeting with the trade minister Amr Nassar at the end of this week to discuss the development of the chemical and fertilisers sector’s exports, he indicated.

Exports of chemicals and fertilisers are expected to grow 20% in the coming three years, he pointed out.

He added that 10 companies has captured 43.7 percent of the total Egyptian exports with the first 6 months of 2018 recording $1.134 billion.

on the other hand, 10 countries have captured 58 percent of the sectors’ exports registering 1.5 billion pounds lead by Turkey then Spain, India, Saudi Arabia, Belgium,  UK, Kenya and Greece.

Meanwhile, exports of paper products reached $291 million compared to $254 million the previous year, an increase of 12 percent.

The report pointed out that Egypt’s exports of organic chemicals increased by 40 percent to reach $ 241 million, compared to $171 million a year earlier.

“Exports of miscellaneous chemicals increased by 146 percent to reach $131.7 m compared to $53.5 million a year earlier, and exports of adhesives dropped by four percent to record $9.35 million, compared to $9.7 million in the same period last year,” the report read.

 

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