ICEC

Trade minister: Egypt’s exports to UAE soar by 112% in 6 months

Egyptian exports to the Emirati market witnessed a leap during the first half of 2016, marking a 112 percent hike.

Trade Minister Tarek Qabil stated Monday that the total volume of Egyptian exports to UAE recorded US$1.125 billion opposed to US$530 million during the same period of 2015.

According to the report he received from Egypt’s Commercial Service Office in Abu Dhabi , Qabil said that Emirati imports to Egypt dropped in January-June 2016 to US$361 million from US$629 million a year earlier, registering a 43 percent decline.

The report discussed trade relations between Egypt and UAE during the first half of 2016.

He clarified that the trade balance between Egypt and UAE witnessed a US$746million-surplus for Egypt in contrast to the same period of 2015 when the balance witnessed a deficit estimated at around US$99 million.

On other side, Head of Egyptian Commercial Service Office (ECS), Ali El-Leithy noted that this hike in Egypt’s exports was due to the promotional efforts exerted to introduce Egyptian products with all consumers in UAE.

Comments
Loading...