Egypt Independent

Egypt exports increase by 14% in the first half of 2018


Egypt’s trade exchange rate increased by 15.5 percent in the first half of 2018 compared to the same period of 2017, reaching $44.836 billion against the $38.829 billion of last year.

The General Organization for Export and Import Control (GOEIC) issued a report on Friday, stating that the Egyptian exports during the first half of this year increased by 14 percent and imports have increased by 16 percent compared to the same period of last year.

Minister of Trade and Industry Amr Nassar said that the positive indicators of Egypt’s foreign trade movement confirm the recovery of the national economy and contribute to restoring Egypt’s natural position on the world trade map.

Nassar pointed out that the coming period will witness intensive moves to accelerate the pace of foreign trade in general, and increase Egyptian exports to world markets in particular.

Head of GOEIC Ismail Gaber said that 5 export sectors achieved significant growth during the first half of this year, namely: chemicals and fertilizers with an increase of 26%, handicrafts 17.8%, medical industries 16.4%, spinning and weaving 11%, books 38%.

He added that the most prominent sectors that recorded an increase in the volume of imports during the first half of this year included furnishings 75%, leather products 44%, handicrafts 39.3%, building materials 29% and ready-made garments 27%.

Edited translation from Al-Masry Al-Youm