27 May 2021
Non-Oil Exports Rise In 4M21
The Minister of Trade and Industry has announced that Egypt’s non-oil exports have increased by 11% YoY during 4M21 (the first 4 months of 2021) to reach USD9.8bn. This comes in the midst of the global pandemic and its negative effects on commercial activity, and is due in part to the government’s swift policies that supported productive sectors, including their specific support for exports. On the other hand, imports only increased by 5% in the same period. The government is planning to reach USD100bn in exports within the coming years, with a special focus on exports to the African continent.
Some of the sectors that saw the greatest increases in exporting activity were Medical Industries (up 60%), Handicrafts (up 53%), Engineering Industries (up 48%), Leather & Shoe Industries (up 40%), and Garments (up 35%). Four countries accounted for about 30% of total exports, with the U.S. and Saudi Arabia having the biggest shares of exports, followed by Italy then Malta. As for imports, five countries supplied about 41% of total imports, with China having the lion’s share, followed by the U.S, Germany, Russia, and Italy. (Source: Daily News, Egypt Today, al-Maal, al-Youm al-Saabee, al-Shurouk)