Egypt’s exports of cement record $28M in Q1-2018

CAIRO – 26 April 2018: Egypt’s exports of cement marked an increase of 16 percent during the first quarter of 2018 to record $28 million (LE 494.9 million), compared to $24 million in the same period of 2017, according to General Organization for Export and Import Control (GOEIC).

GOEIC’s report also revealed that exports of granite and marble rose 7 percent, reaching $47 million in the first three months of current year, compared to $50 million during the mentioned period of 2017.

Export Council for Building Materials (ECBM) announced on Wednesday that Egypt’s exports of building materials increased 7 percent in the first quarter of 2018, recording $1.5 billion, compared to $1.4 billion in the same period of 2016.

In 2017, building materials’ exports recorded $5.08 billion, and the council is targeting to raise this amount to $5.6 billion in 2018, with a 10-percent increase.

The expected revenues of iron and cement in the upcoming budget of fiscal year 2018/2019 recorded LE 300 million ($17 million) of the total revenues of LE 989 billion.

The total revenues in the new budget increased by LE 154 billion, compared to LE 835 billion of the current budget.

Generally, Egyptian goods became attractive to foreign markets after the flotation of the state’s currency in November 2016, losing 50 percent of its value, which is reflected on the increased exports.