Egypt: Growth Rate of Egypt's Exports Reaches 7.4% In 2016Source: www.export-egypt.com 1/24/2017, Location: Africa |
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Egypt’s non-petroleum exports increased by 7.41 percent in 2016, compared to the rate of exports achieved in 2015, reaching US$19.118 billion in 2016 up from around US$17.8 billion in 2015, Al-Borsa newspaper reported.
Five sectors contributed to the growth of Egyptian exports with the construction materials sector on top at 54.64 percent reaching US$4.865 billion, compared to US$3.146 billion in 2015. Chemical industry exports came in second place with a 10 percent growth reaching US$3.273 billion in 2016, compared to US$2.974 billion in 2015. Furniture exports ranked third with 5.73 percent garnering US$369 million in 2016, compared to US$349 million in the previous year. Food industry exports came next at a 2.07 percent growth rate with value of US$2.71 billion in 2016, up from US$2.655 billion in 2015. Medical industry exports maintained its position in fifth place with a slight growth rate of 0.39 percent in 2016 achieving US$513 million in 2016, up from US$511 million in 2015. Book exports have remained at US$19 million since 2015. Meanwhile, seven other sectors saw declines in 2016, the lowest of which was handmade industries which decreased by 29.45 percent going down to US$242 million in 2016, from US$343 million in 2015. Leather exports came next declining by 23.08 percent achieving US$130 million, down from US%169 million in 2015. Textile industry exports declined by 14.13 percent, accounting for US$766 million down from US$892 million in 2015. Upholstery exports went down by 13.39 percent achieving US$542 million in 2016, compared to US$605 million in 2015. Readymade clothing exports decreased by 9.81 percent to come in fourth place achieving US$1.25 billion in 2016, compared to US$1.386 billion in 2015. Engineering industry exports declined by 7.23 percent gaining US$2.311 billion, compared to US$2.491 billion in 2015. Agricultural crop exports saw the lowest rate of losses in 2016 as it declined by only five percent achieving US$2.146 billion, compared to US$2.259 billion in 2015 |
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