20% Decline In Egyptian Exports: GOEIC Report

The total Egyptian exports amounted to $8bn in May 2015, compared to $10bn in the same period last year, with a decrease of 20%, according to the General Organization for Exports Imports and Control (GOEIC) report.

Non-oil exports continued to fall since the beginning of the current year, with a decline value of 22%, recording $1.7bn in May 2015, compared to $2.1bn in the same period last year.

Although 113 new products were exported from January until May 2015, the exports declined.

The report said that chemical and fertiliser industries came on the top of the declined exports, with a rate of 44%, which amounted to $233m in May 2015, compared to $419m during the same period in 2014.

“Leather exports recorded $12m in May 2015, compared to $21m during the same period last year, with a decrease rate of 43%,” the report read. Construction materials also declined at 32%, with $252m in May 2015, compared to $369m in the same period last year.

The agricultural crops sector’s exports declined, recording $224m in May 2015 compared to $282m in the same period in 2014, with decline of 21%. Further, the food industry achieved a decline rate of 20%, recording $251m compared to $316m.

The medical industries and medicines exports achieved a decline of 30% to record $32m compared to $46m last year.

The engineering industries sector exports achieved $259m, compared to $285m last year, with decrease of 9%.

Furniture exports amounted to $33m in May 2015, compared to $38m during the same period in 2014, in addition to a decline in spinning and textile exports, which recorded $77m compared to $88m.

Meanwhile, books and artistic products’ exports stabilised in May 2015 to record $1m, the same as last year.

The handicrafts sector achieved $121m in May 2015, compared to $156m in the same period last year, with a decrease rate of 22%.

Source: Daily News Egypt