Egypt’s exports to UAE leap 176.5pct in eight months

Egyptian exports to the United Arab Emirates leapt by 176.5 percent during the first eight months of 2016.

In January-August 2016, Egypt’s exports to UAE recorded around 14.6 billion Egyptian pounds (US$771.5 million) versus 5.3 billion pounds at the same period of 2015.

In its monthly bulletin on state’s foreign trade, Egypt’s statistics body CAPMAS added that Egyptian exports to UAE jumped by 297 percent in August 2016 to 2.3 billion pounds opposed to 589.6 million in August 2015.

Pearl, gemstone, and accessories topped the list of Egypt’s exports to UAE, seizing 61.3 percent of the total volume during January-August 2016 . The total volume increased by 2865 percent by the end of August 2016 to 9 billion pounds from 302.9 million pounds a year earlier, the CAPMAS stated.

Meanwhile, Egypt’s exports of machines and electric sets and their parts dropped by 28 percent to 1.4 billion pounds in January-August 2016 versus 2 billion pounds at the same period of 2015.