Cairo – Mubasher: Egypt’s oil exports stood at $2.42 billion during the first quarter of fiscal year 2019/2020, compared to $2.87 billion in the year-ago period, the Ministry of Petroleum revealed.
Despite a 2.1% increase in the volume of oil exports, the decrease in global oil prices dragged down the value of exports during the July-September period, according to a statement on Sunday.
Meanwhile, the value of imported crude oil and petroleum products fell by 13% to $2.7 billion during the three-month period ended 30 September, despite a 0.4% rise in the volume of oil imports.
In October, the Egyptian minister of trade and industry received a recent report stating that the North African nation’s non-oil exports increased to $19.201 billion during the first nine months of 2019, compared to $18.708 billion in the year-ago period.
According to a survey conducted by Mubasher, Egypt’s crude oil production declined to 170.9 million barrels during the first nine months of 2019, compared to 173.8 million in the corresponding period a year earlier.
