Egypt’s exports hit $4.5 bln in 2 months

Big 5

Egypt’s exports in the first two months of 2018 registered $4.5 billion, compared to $4 billion in the same period of 2017, according to state statistics body Central Agency for Public Mobilization and Statistics (CAPMAS).

Egypt’s exports to the five biggest Egyptian products’ importers recorded $1.598 billion during the first two months of 2018.

The five countries are the United Arab Emirates, China, Saudi Arabia, Turkey, and Italy.

The exports to these five countries allocated 35.3 percent of the total amount of exports in January and February of 2018.

The UAE came at the top of the Egyptian importers list in January and February at $466.2 million through importing pearls, ornaments, precious stones, electric machines, fruit and vegetables.

taly came second at $466.2 million through importing fuel and mineral oils, aluminum, fertilizers, vegetables, and chemical products, followed by Turkey which imported fuel and mineral oils, aluminum, fertilizers, vegetables, and chemical products at $335 million.

Saudi Arabia came fourth and imported fruit, vegetables, clothing, dairy products, eggs and honey, electrical machinery and equipment from Egypt by $228.9 million.

In the fifth place, China’s imports from Egypt allocated 4.2 percent of total exports by $189.5 million. The main commodities that are exported to China were fuel and mineral oils, fruits and nuts, plastics, cotton, stones and cement.

The petroleum exports jumped to $407 million in the first two months of 2018, from $385 million in the same period of 2017.

Meanwhile, Egypt’s non petroleum exports jumped 200 percent in the first two months of 2018, reaching $64 million, compared to $21 million in the same period of 2017.

In 2017, Egypt’s non-oil exports rose 10 percent to $22.42 billion, up from $20.41 billion in 2016.

Egypt’s exports revived after the flotation of the Egyptian currency by losing about 50 percent of its value, to become attractive to foreign markets.

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