exports
Egypt's exports achieved a high record in 2021 to hit nearly $31 billion, the highest ever in the country's history, Presidential Spokesman Bassam Rady said.
The sector's exports during November decreased by about 36 percent, to record a value of $17.260 million, compared to $26.852 million during November 2020.
The second and third tranches of the initiative's fourth phase will run by the end of February and April, Gamea said in a statement issued by the ministry on Thursday.
By recording $31 billion commodity exports during 2021, this will mark the highest value ever in the history of Egyptian merchandise exports, exceeding the highest number achieved in 2019 which amounted to $25.6 billion in 2019, according to CNN.
The medical industries exports are close to register more than $650 million by the end of the year, he added.
The report pointed out that Italy topped the list of importers of Egyptian aluminum, followed by Spain, Germany, the US and Morocco
The list included, among others, Cameroon, Togo, Spain, Guinea, Mauritania, Liberia, Gabon, Tanzania, Chad, Venezuela.
According to a monthly report by the Export Council for Medical Industries, exports in November hit 65 million dollars compared to 63 million dollars in the same month last year.
Executive Director of the International Monetary Fund Mahmoud Mohieldin praised the presidential development initiative “Haya Karima,” saying “it will open up endless job opportunities.”
Although the free trade part entails removing tariffs, that is not all.
Gamea attributed Tuesday the increase to the measures implemented to stimulate exports.
The Information and Decision Support Center has published a new infographic dealing with the rise in Egyptian exports during 2021 (January/September), which amounted to $29.7 billion, compared to $21.2 billion during the same period in 2020.
In its monthly bulletin on foreign trade data, CAPMAS attributed the decrease of the trade deficit to the increase of the exports by 36.6 percent.
The Council added in a report, Wednesday, that the sector’s exports decreased during the month of October by about 28 percent, to record $21.169 million, compared to $29.23 million in October 2020.
The report of the General Organization for Export and Import Control showed that all industrial sectors achieved high growth rates during the 10 months, despite the negative repercussions of the Corona pandemic.
Games added Monday that the most important export items included cement, food products, machinery, electrical equipment, aluminum and its products, tanning materials and plastics.
CAPMAS added that the Egyptian imports from Spain reached $1.1 billion during the first 8 months of 2021 compared to $988.1 million during the same period in 2020, marking an increase of 15.8 percent.
Speaking during the Egyptian-Bahrain Business Forum organized by the Egyptian Businessmen Association (EBA), the Bahraini ambassador said his country's exports to Egypt increased to $224 million.
Egypt’s imports from the COMESA countries amounted to $901 million during the first 9 months of 2021, compared to $721 million during the same period in 2020, with an increase of 25 percent.
Egypt's exports to the Nile Basin countries recorded $1.11 billion during the period from January to the end of September 2021, compared to $835 million over the same period last year, with an increase of 33.7 percent.
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