Top receiving markets for Egyptian exports included Turkey, USA, Saudi Arabia, Italy, and Malta. These 5 countries receive 30.6 percent of Egyptian exports
Non-oil exports went up by 6 percent in Q1 2021, said Minister of Trade and Industry Nevine Gamea, adding that non-oil exports recorded at $7.4 billion, compared to around $6.99 billion in the same quarter of 2020.
Egyptian imports saw a lesser incline of 2 percent during Q1 of 2021, recording $16.99 billion compared to $16.67 billion in Q1 2020.
Gamea highlighted that these positive indicators contributed to reducing the trade balance deficit by 1 percent to $9.5 billion, compared to $9.68 billion in 2020’s Q1.
Earlier this month, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced that Egypt’s trade deficit dropped by 17.9 percent at the end of January of 2021, recording $3.15 billion, compared to January 2020’s $3.85 billion.
Related > Trade balance deficit drops 9% YoY in 2020
Dominating the sectors of Q1 2021 were chemical and fertilizer products which was valued at $1.53 billion, said Ismail Gaber, Head of General Organization for Export & Import Control.
Other leading sectors were building materials with a value of $1.35 billion, and the food industries sector with a value of $965 million. The engineering and electronic goods sector was valued at $739 million, ready-to-wear clothing at $434 million, and the medical products sector at $174 million.
Top receiving markets for Egyptian exports included Turkey, USA, Saudi Arabia, Italy, and Malta. These 5 countries receive 30.6 percent of Egyptian exports, said Gaber.
Turkey imported Egyptian products with a value of $504 million, USA at a value of $498 million, Saudi Arabia with a value of $456 million, Italy with $447 million and Malta with $375 million.
Top exporting countries to Egypt were China, USA, Germany, Russia, and Italy. These 5 countries accounted for 42.1 percent of Egypt’s total imports.
China exported products with a value of $3.145 billion to Egypt, USA with $1.495 billion, Germany with a value of $970 million, Russia, with a value of $855 million, and Italy with a value of $689 million.
