Egypt’s non-petroleum exports drop 19% in November 2015

Egypt’s non-petroleum exports dropped 18.7 percent year-on-year in November 2015 to US$1.4 billion, compared with $1.7 billion in the same month last year, according to Trade and Industry Minister Tareq Qabil.

In October, Egyptian non-petroleum exports increased by 0.5 percent for the first time since the start of 2015. At that time, the minister said those figures were positive indicators reflecting the ministry’s efforts since the Cabinet was formed 50 days ago.

In terms of the November figures, however, the minister stated they were not indicators that government policies are failing, but that they need time to be translated into positive outcomes.

Regardless, Egypt’s non-petroleum exports fell, during the first 11 months of 2015, by 17.3 percent to $16.8 billion, versus $20.3 billion during the same period in 2014.

Source: Egypt Independent