Egypt: Organic chemical exports surge 141% in Q1

Egypt’s exports of organic chemicals recorded 212.2 million Egyptian pounds throughout the first quarter of 2016, marking a 141 percent y-o-y increase.

In Q1 of 2015, exports stood at 88.2 million pounds.

According to the latest report released by Egyptian Chemicals Export Council (CEC) on Sunday, ten companies captured 99 percent of the country’s total exports of organic chemicals, registering 211.2 million pounds by the end of March 2016.

The report further showed that Egyptian Methanex Methanol Company was the largest exporter of organic chemical products with exports estimated at 169.9 million pounds, capturing around 80 percent of the total volume by the end of March 2016.

Mansoura for Resins & Chemical Industries Co. (MRI) was second top exporter of organic chemical products, with exports estimated at 17.9 million pounds, followed by Eagle Chemicals whose exports hit 12.5 million pounds.

Coming in the fourth position, Egyptian British Co. for Specialty Chemicals and Auxiliaries’ Q1 exports reached 4.6 million pounds, followed by Sprea Misr with exports worth 1.8 million pounds.

Around ten importers had captured 200.8 million pounds or 94.5 percent of Egypt’s organic chemical exports throughout the first quarter.

Turkey was top importer of Egypt’s organic chemical products with imports worth 66.7 million pounds, seizing around 33 percent of the total volume by the end of March 2016. France was second biggest importer, making imports worth 35.7 million pounds. Greece imported Egyptian organic chemical products worth 35.7 million pounds, followed by Italy with imports worth 33.9 million pounds and Algeria with imports of 10.22 million pounds.