Egypt’s non-oil exports fall 17% in H1 to $16 bln

Egypt’s non-oil exports fell 17 percent to $16 billion in the first half of this year, compared to $19.3 billion a year ago, according to a government official for the Asharq Business on Tuesday.

The official attributed the decline in exports to the “shortage of raw materials and production components needed for the production process, and the repercussions of the global crisis.”

Egypt had successfully raised about $1.9 billion over the past period, selling some of its assets to investors, in order to provide dollar liquidity, as the government aims to raise an additional $1 billion from selling new assets over the next few years.