07 Nov 2021
The Minister of Trade & Industry reported that Egypt’s non-oil exports to the E.U. (European Union) soared during 8M21, rising by 38% YoY to sit at EUR4.1bn. Some of the top items that witnessed growth in their exports included plastics & related products, rising by 50%, fertilizers rising by 33%, aluminum rising by 28%, and iron & steel rising by a whopping 431%. Other items were also popular, such as fruits, electrical equipment, textiles & clothing, glass products, cotton, and ceramics.
Some of the top countries in Europe that imported Egyptian products include Italy, Spain, Germany, and the Netherlands. Egyptian exports to 23 European countries have witnessed growth. It is worthy to note that a free trade agreement was enacted between Egypt and the E.U. in 2004, while an additional agreement on agricultural, processed agricultural, and fisheries products became effective in 2010. By 2020, the E.U. represented about 25% of Egypt’s total trade volume. 22% of Egypt’s exports go to the E.U., while 26% of Egypt’s imports are from the E.U..
(Source: Ministry of Trade & Industry, al-Ahram (English) (Arabic), Daily News Egypt (English), Egypt Independent (English), Arab News (English), International Finance Magazine (English), al-Maal, Amwal al-Ghad, Economy Plus Me, Hapi Journal, al-Youm al-Saabe, al-Masry al-Youm, al-Shurouk, al-Dustour, al-Sharq Business)