Egypt boosts exports by 20% in first quarter despite war
Cairo, Apr. 28 (.).- Egypt’s non-oil exports rose 20% in the first quarter of the year, despite the economic impact of the war in Ukraine, which has forced the Arab country to stop exporting some to ban its products.
Total non-oil exports from January to March 2022 were $9,176 million, while they made a profit of $7,671 million in the same period last year, the Ministry of Industry and Foreign Trade reported.
“The war in Ukraine and the pandemic did not affect the positive indices of non-oil exports, which is due to the stability of global demand for Egyptian products and the increase in their competitiveness in world markets,” assured Industry and Foreign Trade Minister Nevin Gamea .
He also pointed out that this increase is also due to the fact that many markets have Egyptian products due to “the slowdown in the production process in several countries, caused by geopolitical tensions and the effects of the coronavirus”.
For his part, the President of the General Organization for Export and Import Control, Essam al Najjar, pointed out in the statement that the largest recipient markets for Egyptian non-oil exports are the United States, Saudi Arabia, Turkey, the United Arab Emirates, Italy and Spain.
Likewise, the note notes that non-oil product exports to the United States increased by 21% in the first quarter compared to the same quarter of 2021, just as they increased by 14% in European Union countries over the same period.
The main products that Egypt exports are from the areas of printing, packaging and paper, textiles and building materials.
These good numbers in these sectors come at a time when the Arab world’s most populous country has stopped exporting staples like gold, as well as some metals like . the leadership.
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