Egypt’s exports rise 14% in H1

Egypt’s trade exchange increased 15.5 percent to $44.836 billion in the first half of the year from $38.829 billion last year.

Egyptian General Organisation for Export and Import Control (GOEIC) issued a report on Friday, stating that the Egyptian exports during the first half of this year increased by 14 percent and imports have increased by 16 percent compared to the same period in 2017.

Minister of Trade and Industry Amr Nassar said the positive indicators of Egypt’s foreign trade movement confirm the recovery of the national economy and contribute to restoring Egypt’s natural position on the world trade map.

Nassar pointed out that the coming period will witness intensive moves to accelerate the pace of foreign trade in general, and increase Egyptian exports to world markets in particular.

Head of GOEIC Ismail Gaber said that 5 export sectors achieved significant growth during the first half of this year, namely: chemicals and fertilizers with an increase of 26 percent, handicrafts 17.8 percent, medical industries 16.4 percent, spinning and weaving 11 percent, and books 38 percent.

He added that the most prominent sectors that recorded an increase in the volume of imports during the first half of this year included furnishings 75 percent, leather products 44 percent, handicrafts 39.3 percent, building materials 29 percent, and and ready-made garments 27 percent.

Source: Al-Masry Al-Youm