ICEC

Egypt’s exports to Russia increase 35% in 2017: Kabil

Tarek Kabil, minister of trade and industry, announced that Egyptian exports to Russian markets has witnessed a great leap increasing  by 35 percent to register $504.6 million compared to $374 million.

This came according to the latest report received by the minister from the Egyptian Commercial Office in Moscow about the development of Egyptian exports to Russia during 2017.

Kabil added that the preliminary indicators for 2017 indicate that Egyptian exports to the Russian market may have exceeded $500m for the first time in the history of the trade relations between the two countries.

Head of the Egyptian Commercial Service Ahmed Antar attributed the rise in exports to Russia last year to an increase in the exports of fruits and vegetables, food products, home appliances and medical industries by 39%, 115%, 600% and 48% respectively.

The Egyptian exports of vegetables and fruits to Russia increased by 39%, amounting to about $359m in 2017 compared to about $258.5 m during the same period of 2016

On the other hand, Egyptian exports to Russia from food products increased by 115% in 2017, to reach $21 million.

Antar added that the efforts of Egypt’s commercial service in Russia have helped boost Egyptian exports, saying that the office provided 25,000 export opportunities with $64 million.

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