Cairo – Mubasher: Egypt’s non-oil exports dropped by 2.5% year-on-year (YoY) to $18.76 billion during the first nine months of 2020, compared to $19.23 billion, data by the Central Agency for Public Mobilization and Statistics (CAPMAS) showed on Monday.
The fall in non-oil exports was attributed to lower exports of raw cotton to $1.87 billion in the January-September period from $1.98 billion in the year-ago period, the CAMPAS said in a statement.
Raw cotton was directed to local manufacturing instead of being exported at lower rates.
Egypt’s non-oil exports to Saudi Arabia fell to $1.17 billion in the nine-month period ended 30 September from $1.29 billion in the year-ago period.
The US came in the second position with non-oil exports sliding to $1.11 billion from $1.63 billion, followed by Italy with $886 million and the UK with $515 million.
