Egyptian Exports Achieve Ministry of Industry Targets In 9 Months

The Egyptian exports have recovered the decline which they witnessed during eight months of 2012. The exports amounted to EGP 97.2 billion from January-September 2012; achieving the targeted value due to the strategy, prepared by the ministry of industry, of developing the exports.

In Q3 of 2012, the Egyptian exports started to recover, increased by 14% last September, after the decline during the last months. The ministry of industry’s strategy or developing exports targets EGP 97.5 billion during the current period, and already achieved.

On his part, Eng. Hatem Saleh, Minister of Industry and Foreign Trade, told Amwal Al Ghad that the ministry is aiming at achieving EGP 130 billion of the exporting value by the end of 2012.

The exporting value in Q3 of 2012 had been slashed by 2%, compared to the value in 2011 which recorded EGP 99.3 billion.

Anwar Al Sahragty, Head of the Egyptian Commercial Representation Body, stated that the main factor behind the exports fall in 2012 is the fulfillment of all the exporting contracts that signed by the Egyptian exporters with the foreign importers in the last period. Also the foreign importers’ confidence in Egypt’s economic climate declined, as well the ability of the Egyptian product to provide its needs in fixed timing.