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Egypt's Non-oil Exports Climb 19%

Egypt's Non-oil Exports Climb 19%

Monday, 21 June, 2021 - 08:00
Container ship RDO Concord sails through the Suez Canal as Egypt celebrates the 150th anniversary of the canal opening in Ismailia, Egypt on November 17, 2019. (File Phot: Reuters)

Egypt’s Minister of Trade and Industry Nivine Gamea announced that the country’s non-oil exports recorded a significant increase of 19 percent in the first five months of 2021.


Imports reached $12.323 billion during the period, compared to approximately $10. 375 billion in the same period in 2020.


During a press conference on Sunday, Gamea added that Egyptian exports surged by 50 percent in May 2020, amounting to $2.288 billion, compared to $1.522 billion in May 2020.


The government’s economic reform program represents a pillar in achieving positive growth rates, especially in productive projects. These effects are positively reflected in increasing export rates and providing new job opportunities, Gamea disclosed.


The minister noted that Egyptian imports also recorded a slight increase of 10 percent in the first five months of this year, registering $29.161 billion, compared to $26.422 billion in the same period in 2020.


She pointed out that the geographical distribution of Egyptian exports during the reporting period included: the European Union with a value of $3.885 billion, the Arab League with a value of $3.719 billion, Africa, excluding the Arab countries, with a value of $661 million, the US with a value of $852 million, and other markets with a value of $3.206 million.


During the first five months of 2021, 12 exported product industries saw significant increases, the minister stated.


The medical industries sector closed the 5M with a value of $280 million, jumping 55 percent, compared to $180 million during the same period last year.


Leather and leather product exports saw a climb of 54 percent to record at $35 million, compared to $23 million in 2020.


The engineering and electronic goods sector grew to about $1.18 billion, compared to $775 million during the same period last year, with an increase of 52 percent.


Head of the General Organization for Export and Import Control (GOEIC) Ismail Gaber said that the top 10 receiving markets for Egyptian exports in the first five months of this year included: the US with a value of $852 million, Saudi Arabia with a value of $788 million, Turkey with a value of $786 million, Italy with a value of $709 million, Malta, with a value of $507 million, the UAE with a value of $432 million, the UK with a value of $408 million, Libya with a value of $365 million, Sudan with a value of $320 million, and Germany with a value of $309 million.


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