Egyptian exports to Arab countries rise by $133.1M in June 2020

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Sun, 18 Oct 2020 - 11:32 GMT

FILE - Cargo ship

FILE - Cargo ship

CAIRO - 18 October 2020: Egyptian exports to Arab countries hit $830 million in June up from $696.9 million in June 2019 with an increase worth $133.1 million.

 

On the other hand, Arab countries’ exports to Egypt declined by $333.9 million to record $496.2 in June instead of $830.1 million in June 2019.

 

Egypt's non-petroleum exports registered $16 billion during the first eight months of 2020, the General Organization for Import and Export Control (GOEIC) said in its monthly report on Wednesday.

 

The report shows a 4.7 percent decrease in non-petroleum exports which hit $16.752 billion during the same period last year.

 

 

The report also shows a 5 percent increase in non-petroleum exports last month, recording $1.741 billion compared to $1.694 in August 2019.

 

 

Meanwhile, the exports of nine export councils saw a remarkable increase last month, atop of which is the Egyptian Export Council for Printing, Packaging, Paper, Literary and Artistic Works, which hit a whopping 51 percent increase, recording $68 million in August, compared to $45 million in August last year.

 

 

Medical exports also witnessed a 30 percent increase, registering to $40 million last month compared to $30 million in August 2019.

 

 

In addition, exports of handcrafted products as well as chemicals and fertilizers also went up 41 percent and 11 percent, respectively, recording $16 million and $423 million last month, compared to $14 million and $380 million during the same month last year.

 

The Cabinet plans to boost agricultural exports in FY2020/2021 by entering new markets through grapes, citrus, and garlic.

 

The targeted markets are Southeast Asia, Canada, and a number of African and Latin American countries.

 

The government wants to increase agricultural exports in the current fiscal year to 6.75 million tons from 5.58 million tons in FY2018/2019. The agricultural exports revenues in FY2019/2020 are estimated at LE2.48 billion and is planned to grow by 5-10 percent to record LE2.6-2.7 billion.

 

That is why the Cabinet plans to encourage the cultivation of horticulture crops, particularly those of which Egypt has achieved self-sufficiency. The percentage for zucchini, bell pepper and green beans is 105 percent, while that for citrus is 140 percent.

 

The government wants to enlarge the area cultivated with olives by 40,000 feddans as it is now 54,000 feddans and continue growing 100 million olive trees. That is in addition to expanding greenhouse farming like the 100,000 Greenhouse Project established by the Egyptian Armed Forces, and organic agriculture.

 

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