Egypt’s Exports to USA Fall to EGP5 Bln by July-End

The Egyptian exports to the Unites States have witnessed a decline of 7% during the period from January to July 2013 as they reached around EGP 5 billion, against EGP 5.34 billion.

The retreat in the volume of the Egyptian exports to the US markets was unexpected which came as a result of the high price of the US dollar against the Egyptian pound as well as the Egyptian product’s acquiring comparative advantages in the US market.

Sources from the Egyptian Foreign Trade Sector told Amwal Al Ghad that garments and furnishings products are capturing the lion’s share of the Egyptian exports to the USA powered by the activation of the Qualifying Industrial Zones (QIZ) protocol. Cairo have signed the QIZ protocol with Washington, seeking to boost the exports which are 100% exempted from customs.

Chemicals products and agricultural crops come second for Egypt’s exports to the USA.