Egypt’s trade rises to $67.63 bln in nine months

Big 5

Egypt’s trade volume from January to September 2018 hit $67.63 billion, up from $59.82 billion during the same period the previous year; a rise of 13 percent, according to a report released on Sunday by the General Organisation for Import and Export Control (GOEIC).

The report said that Egypt’s non-petroleum exports during the first nine months of the year reached $15.514 million, compared to $16.605 million during the same period the previous year; a rise of 11 percent.

The report said that exports during September 2018 rose by 20 percent to hit $1.933 billion compared to $1.613 billion during the same month last year.

Imports recorded a drop of 13 percent to register $4.206 billion compared to $4.860 billion in September 2017.

The report added that the countries of the League of Arab States take the lead when it comes to imports from Egypt at $6.735 billion from January to September 2018, followed by the EU countries at $5.528 billion.

Egypt exported to the United States in the same period what is equal to $1.185 billion, while to non-Arab African countries $1.123 billion.

When it comes to the most important markets Egypt sent exports to in the past nine months, the report says that UAE came on the top at $1.576 billion, followed by Turkey at $1.49 billion, while the United States came in third at $1.185 billion.

Italy came in fourth place with exports equal to $1.17 billion, followed by Saudi Arabia at $1.05 billion.

The fertiliser and chemical industry exports in Egypt led the way with a 25.8 percent increase compared to the same period last year.

The fertilisers and chemical industries sector exported at $3.998 billion in the first nine months of 2018 compared to $3.179 billion in the same period in 2017.

Exports of handicrafts also increased by 10 percent at $158 million in 2018 compared to $144 million in 2017.

Ready-made garment exports recorded a 9.2 percent increase to reach $1.174 billion in 2018 up from $1.075 billion in the same period last year, the report said.

Source: MENA & Ahram Online