Egypt’s imports from EU hike 1%, exports fall 8%

CAIRO – 7 May 2017: Egypt’s exports to the European Union (EU) dropped by 8 percent in 2016, recording €6.6 billion ($7.2 billion) compared to €7.2 billion the previous year, an official report by the Ministry of Industry and Foreign Trade stated Sunday.

Meanwhile, Egypt’s imports from the EU registered a 1 percent increase, reaching €20.6 billion in 2016 compared to €20.4 billion in 2015, the report added.

The report said total exports of crude oil and its products fell by 23 percent in 2016, registering €2.4 billion compared to €3.1 billion. In addition, food industries’ exports decreased by 15 percent, reaching €94 million last year compared to €111 million in 2015.

Exports of furniture declined by 13 percent, recording €18 million compared to €20 million. Moreover, cotton, yarn, textiles, clothes and furnishings reduced by about 5 percent, registering €834 million.

Exports of metal products rose by about 1 percent, recording €447 million against €442 million the previous year, while exports of chemicals and pharmaceuticals increased to €639 million compared to €422 million at a growth rate of 51 percent. Egypt's exports of agricultural products (excluding cotton) hiked by about 11 percent, reaching €752 million compared to €677 million.

Egypt's foreign trade report of 2016 showed that Egypt's imports of metal products increased by 28 percent, registering €1.6 billion up from €1.3 billion during 2015.

Imports of furniture rose by 20 percent, amounting to €127 million, compared to €106 million in 2015, as well as exports of engineering and electronic goods, which rose by 16 percent to reach €8.4 billion, compared to €7.3 billion.

Meanwhile, Egypt's imports of agricultural products, excluding cotton, declined by 26 percent, registering €894 million, down from €1.2 billion.

Imports of food industries fell by 15 percent, recording €421 million from €493 million. Imports of chemicals and pharmaceuticals fell by 4 percent to reach €2.6 billion against €2.8 billion in 2015.