Kabil : 10% increase in exports, 14% decrease in imports and 25% improvement in trade balance

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Monday - 29 January 2018 - 10:38 AM



Minister of Trade and Industry, Tarek Kapil, said that the Egyptian non-petroleum exports achieved a remarkable increase during 2017 compared to 2016 which is amounted 22 billion and 417 million dollars compared to 20 billion and 409 million dollars, with an increase of 10%. Imports decreased from 66 billion and 309 million dollars to 56 billion and 814 million (14%), while the improvement in the trade balance deficit reached about 25 %.





The minister said that these positive indicators confirm the success of the ministry's efforts over the past two years, which included the establishment of rules and policies to counter random imports to ensure the quality of imported products, which contributed to reducing the entry of low quality products and gave a great opportunity for the national industry to increase its production capacity of National products.





The abovementioned data according to the latest report received by the minister from National Data Warehouse for Egyptian Foreign Trade on Egypt's foreign trade indicators during 2017.




Kabil said that there are 8 sectors of productivity achieved the highest rate of increase in exports during 2017 compared to 2016. The exports of chemical and fertilizer industries amounted to 4 billion 441 million dollars, with an increase of 32%, and the ready-made garments sector amounted to $ 442 million, with an increase of 13%, engineering industries: 2 billion and 571 million dollars, with an increase of 10.6 %. .





The textile sector amounted exports of 833 million dollars, an increase of 6.5% over the previous year, while the food industry amounted two billion and 783 million dollars, an increase of 3%, while the construction materials sector amounted 5 billion and 88 million dollars, with an increase of 3.5%. Agricultural crops amounted 2 billion and 214 million dollars, with an increase of 3%.  About the largest 10 markets received Egyptian exports during 2017, The minister pointed out that the UAE, Saudi Arabia, Lebanon, the United States, Germany, France, Spain, Turkey, Italy, and Britain amounted to 11 billion and 855 million dollars, with an increase of 8.5% compared to 2016.





Kabil pointed out that the continued efforts of the ministry to rationalize imports of products with supporting the local industries resulted in a significant decline in Egyptian imports from the top 10 countries in 2017 compared to 2016, with a decline of 21%, namely China, the United States, Russia, Brazil, South Korea, India, Germany Italy, Turkey and Ukraine .





In addition to Egyptian imports of nine production sectors decreased to16.5 %.