Foreign Trade Up 13 Pct, Exports Surge 11 Pct in Nine MonthsSource: www.export-egypt.com 11/3/2018, Location: Africa |
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Minister of Trade and Industry Amr Nassar announced that foreign trade surged 13% year on year to around $67.630 billion in the first nine months of the year, up from $59.822 billion.
Based on a recent report by the ministry’s General Organization for Export and Import Control (GOEIC), non-oil exports increased by 11% and imports by 14% in the same period from a year ago, registering $18.514 billion and $49.116 billion respectively. According to the report, Egypt’s trade volume with the US grew 33.2%; and likewise with non-Arab African countries by 21%, the Arab League member states by 10.5% and the EU by 5%. It also stated that the top markets that received Egyptian exports in the January-September period were: UAE, Turkey, US, Italy, Saudi Arabia, UK, Spain, Algeria and France. Ismail Gaber, head of the GOEIC, said that the five sectors of chemicals and fertilizers, medical industries, textiles, handicrafts and ready-made garments were the key drivers behind export growth in the first nine months of the year; rising 25.8%, 13%, 10.3%, 10% and 9.2% respectively. Similarly, imports of linens, leather products, ready-made garments, handicrafts and construction materials witnessed an increase of 64%, 36.7%, 35.3%, 32% and 28.1% respectively between January and September. |
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