Egyptian non-oil exports to Lebanon jump 54%, reach $479m in 8 months

Egyptian non-petroleum exports to the Lebanese market witnessed a considerable increase during the first eight months of 2016.

In January-August 2016, state’s non-petroleum exports to Lebanon jumped 54 percent to US$479 million from US$311 million at the same period of 2015.

According to the report submitted to Egypt’s Trade Minister Tarek Qabil, the Lebanese imports to Egypt dropped by 33 percent during the first eight months of 2016 to US$38 million opposed to US$57 million a year earlier.

The report showed that Egyptian-Lebanese trade balance achieves a surplus in January-August 2016 since it rose by 73 percent to around US$441 million.

On other side, Ahmed Antar, Head of Egyptian Commercial Services Office (ECS),  stated Friday that there are a number of factors behind the rise in Egyptian exports to Lebanon during January-August 2016.

Among those factors are the focus of Egyptian commercial services office in Beirut on Lebanese priority industrial sectors such as building materials and food industries in addition to entering new goods into engineering sector.

The offices also exerts efforts to implement ‘Egypt- Lebanon to Africa’ Initiative that targets promoting Egyptian exports to African states, the chairperson stated.

Moreover, Antar added that the rise in Egyptian exports to Lebanon was due to ECS’ success to enhance agricultural crops exports to Lebanon by 24 percent  to US$57 million.