This content was published on April 28, 2022 – 12:54 pm April 28, 2022 – 12:54 pm
Cairo, 28 April (EFE).- Non-oil exports increased by 20% in Egypt in the first quarter of 2022, despite the economic impact of the war in Ukraine, which has forced the Arab country to increase exports of some of its oils ban products.
Total non-oil exports from January to March 2022 amounted to $9,176 million (nearly $8,750 million at the current exchange rate), while they made a profit of $7,671 million ($7,315 million) in the same period last year, according to the ministry by industry and foreign trade in a statement.
“The war in Ukraine and the coronavirus 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,” said the Minister of Industry and Foreign Trade , Nevin Gamea, assured in the note.
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% for 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 figures in these sectors come at a time when the most populous country in the Arab world, fearing war-related shortages, has banned the export of staples such as wheat and some metals such as copper, steel or lead. EFE
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