Cairo – Mubasher: The Egyptian non-oil exports grew by 3% year-on-year during the first eight months of 2019, Ahram reported on Wednesday, citing official data released by the Ministry of Trade and Industry.
The most populous Arab nation’s non-exports stood at $17.065 billion in the eight-month period ended 31 August, compared to $16.612 billion in the corresponding period a year earlier.
The rise in exports led to an $80 million year-on-year drop in the trade deficit from January to August.
Food exports increased by 8% to $2.030 billion during the eight months ended 31 August from $1.888 billion in the same period of 2018, head of the General Organization for Import and Export Control (GOEIC), Ismail Gaber, said.
Meanwhile, agricultural exports amounted to $1.763 billion, rising by 8% year-on-year from $1.626 billion, while exports of ready-made garments went up 6% to $1.105 billion from $1.043 billion.
On the other hand, the North African nation’s imports fell to $40.551 billion during the first eight months of the year, compared to $60.178 billion.
Imports of furniture plunged by 61% to $345 million from $883 million, while imports of books and literary and artistic works dropped by 24% to $19 million from $25 million.
In the meantime, exports of building materials tumbled by 11% to $6.017 billion from $6.799 billion.
Destinations for the Egyptian exports include the US, the UAE, Saudi Arabia, Turkey, and Italy with $1.462 billion, $1.260 billion, $1. 156 billion, $1.093 billion, and $1.896 billion, respectively.
Countries exporting to the Egyptian market are topped by China, the US, and Germany with $7.196 billion, $3.039 billion, and $2.451 billion, respectively.
