Egypt’s Export To South Korea Hit EGP330 Mln

Egypt’s trade with South Korea witnessed a decline at the end of Q3 of 2012. The Egyptian exports to Korean market recorded EGP 330 million in different productive sectors, while the non-petroleum Korean products in Egyptian market reached EGP8 billion during the same period.

Reliable sources in the ministry of industry and foreign trade stated to Amwal Al Ghad that the Egyptian exports to Korea are chemical products and fertilizers, which recorded EGP 220 million, while value of building materials reached EGP 31 and the sector of engineering and electronic reached EGP 10 million.

Egypt’s imports from Korea focused on engineering and chemical sectors. Egypt imported EGP 5.8 billion of these products by the end of Q3 of 2012. The chemical products and fertilizers imports recorded EGP 1.3 billion, while building materials reached EGP 679 million.

Egypt’s exports to Korean market witness unsteady state. They sometimes reach EGP 200 million in any quarter, and then decrease to EGP 30 million at the counter quarter in another year. This is due to the unsteady demand on the Egyptian product by the Korean market. Therefore, the private sector should sign more agreements concern importing and investment partnership with the Korean side in the coming period.