Plastics sector seizes 34% of Egypt’s 8-month chemicals exports

Egypt’s exports of plastics climbed by 11 percent to $688.4 million during the first eight months of 2016, accounting for 34 percent of the country’s total chemical exports.

Earlier, plastics exports stood at US$776.3 million during the first eight months of 2015.

The latest report released by state’s Chemical Export Council (CEC) showed that 10 firms seized 57 percent of Egypt’s total plastics exports by the end of August 2016 with exports worth $397.7 million.

Egyptian Propylene and Polypropylene Company was the largest exporter of plastics in January-August 2016 with exports estimated at US$115.1 million, getting 29 percent of the total volume, the report read.

The second largest exporter was Sidi Kerir Petrochemicals Company (SIDPEC) whose plastics exports reached $62 million.

Third, Flex P Films Egypt Company’s exports hit $45.4 million during the first eight months of 2016, the report added.

The total exports of Technopack S.A.E. Modern Packaging Company reached $31.4 million, while exports of Ideal Standard International-Egypt recorded $23.2 million.

On other side, 10 states captured 62 percent of Egypt’s total plastics exports by the end of August 2016 as Turkey was the largest importer of Egyptian plastics with imports worth $161.9 million.

Sudan was the second largest importer of Egyptian plastics exports in January-August 2016 with imports estimated at $50.4 million followed by Belgium at $48.3 million then Italy at $29 million and UK at $25 million.