Egypt’s Builders: building materials exports hit $29bn late 2015

Egyptian exports of building materials has reached more than 24 billion Egyptian pounds (US$3 billion) at the end of 2015 to be Egypt’s second largest exports following petroleum products.

Chairman of Egypt’s Export Council for Building Materials Walid Gamal Eldin stated Wednesday that manufacturing firms of building materials targeted exports of 40-50 billion pounds annually within the last period but the slowdown in the local and global economy caused this volume to be lower than expected.

Accordingly, the volume of building materials exports recorded around 24-28 billion pounds per year to more than 100 other states in addition to meeting local needs.

He made these remarks during the second edition of the Annual Builders of Egypt Forum took place on 1-2 March 2016 in The Nile Ritz-Carlton.

Gamal Eldin clarified that rumors about the ability of building materials firms to cover local market’s need have been broke up as pursuant to launching a massive number of the national projects.