Egypt rubber exports drop 29% in Q1 2016

Egypt’s exports of rubber products declined by 29 percent to 146.6 million Egyptian pounds (US$16.5 million) in January-March 2016 versus 205.14 million pounds at the same period of 2015.

According to the latest report released Thursday by Egyptian Chemical Export Council (CEC), around ten firms captured 99.2 percent of total volume of Egyptian rubber exports with exports worth 145.4 million pounds at the end of March 2016.

Alexandria Tire Company – Pirelli was the largest exporter of rubber products with exports estimated at 140.4 million pounds, getting 97 percent of the total volume.

The report showed that exports of Samaya Electronics Egypt reached around 920,000 pounds during the first quarter of 2016.

On other side, ten states captured 72.9 percent of the total Egyptian exports of rubber products in January-March 2016with imports estimated at 106.8 million pounds.

Turkey was the largest importer of Egyptian rubber products with imports worth 35.4 million pounds, getting 33 percent of the total volume, followed by Italy whose imports reached 17.2 million then Saudi Arabia (10.9 million), Morocco (10 million pounds), and Algeria (8.8 million pounds).