Egypt’s ten-month exports to UAE hit $971mn: CAPMAS

Egyptian exports to the Emirati market jumped 178.9 percent in January-October 2016 to 18.3 billion Egyptian pounds (US$971 million) opposed to US$6.5 billion pounds a year earlier.

According to the monthly bulletin released by Egyptian statistics body CAPMAS, Egypt’s exports to the UAE reached 1.9 billion pounds in October 2016 opposed to 682.7 million pounds in October 2015, making a 184.5 percent increase.

Gemstones and pearls seized 59 percent of Egypt’s total exports to the Emirati market during the first ten months of 2016 since their exports recorded 10.8 billion pounds versus 358 million pounds at the same period of 2015, marking a 2913 percent increase.

In January-October 2016, Egyptian exports of fruits to UAE rose by 17.3 percent to 508 million pounds versus 433 million pounds, the bulletin stated.

On the other hand, Egyptian exports of machines, electric sets and their parts to the Emirati market declined by 24 percent during the first ten months of 2016 to 1.9 billion pounds compared to 2.5 billion pounds at the same period of 2015.