Rubber exports decline 23% in five months- Egyptian Council

Egyptian rubber exports dropped by 23 percent in January-May 2016 to 265 million Egyptian pounds (US$29.8 million) versus 346.4 million pounds a year earlier.

The latest report released by Egypt’s Chemical Export Council (CEC) on Sunday showed that ten firms captured 99.2 percent of total rubber exports at the end of May 2016 with exports estimated at 263 million pounds.

Alexandria Tire Company – Pirelli was the largest exporter of rubber products since its exports recorded 254.9 million pounds, seizing 97 percent of the total exports volume, the report showed.

According to the report, ten countries captured 70.5 percent of the total volume of Egypt’s rubber exports during the first five months of 2016 with exports worth 186.9 million pounds.

Turkey was the largest importer of Egyptian rubber with imports estimated at 55.4 million pounds, getting 30 percent of the total volume.

The report stated that Italy’s imports of Egyptian rubber reached 26 million pounds, followed by Saudi Arabia whose imports hit 22.4 million, then Morocco with imports estimated at 18 million pounds, and Algeria with imports of 15.3 million.