Exports to Russia Up 41 Pct in Jan-AprSource: www.export-egypt.com 6/27/2018, Location: Africa |
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Minister of Trade and Industry Amr Nassar announced a significant 41% year-on-year increase in exports to Russia during the first four months of 2018, hitting $284 million.
“The recent export growth has helped bring down Egypt’s trade deficit with Russia, which is primarily due to the country’s rising imports of strategic goods from the latter, on top of which wheat,” Assar said. He added that the coming period will witness a further boost in exports to the Russian market, especially after the future signing of an FTA with the Russia-led Eurasian Economic Union. Ahmed Antar, head of the Egyptian Commercial Service, explained that the rise in exports during the January-April period was mainly thanks to an increase of 42.5% in shipments of fruits and vegetables, which account for 82% of Egypt’s total exports to Russia. He also pointed to other Egyptian products that enjoyed considerable export growth over the same period, including: home appliances (366%), foodstuffs (108%), soap and detergents (153%), linens (81.5%), carpets (46%), and medical industries (34.6%). |
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