Egypt’s exports to South Africa jump 69% in 2017

CAIRO – 16 April 2018: Egypt’s exports to South Africa increased 69 percent in 2017, recording $99 million, compared to $58.5 million in 2016, according to Minister of Industry and Foreign Trade Tarek Kabil.

On the other hand, imports from South Africa declined 14 percent to $181 million in 2017, compared to $210 million in the previous year.

This came in the context of the latest report received by the minister on the development of trade exchange between Egypt and South Africa during 2017.

Kabil added that the trade exchange between Egypt and other African countries will witness growth and development in light of the African Continental Free Trade Area.

The African Continental Free Trade Area is an agreement to ease the trade exchange between countries that have signed it, according to a scheduled timeline, and not through an immediate activation of the agreement.

This Free Trade Area is considered to be the biggest deal ever signed since the World Trade Organization was established; it was signed by 43 countries.

Trade Exchange between Egypt and South Africa rose to $315 million in 2017, from $268 million in the previous year, with a 17.5 percent increase.

As per trade deficit between the two states, it fell to $46.5 million in 2017, compared to $150.8 million in 2016.

Head of the Egyptian Commercial Service Ahmed Antar said that the development of Egyptian exports and imports to the South African market comes within the framework of the efforts of the Egyptian Trade Office in Pretoria to facilitate the access of Egyptian products to this market.

Antar clarified that the efforts include promoting Egyptian participation in the specialized international exhibitions held in South Africa, providing many exporting opportunities and preparing marketing studies for Egyptian companies.

He referred that the increased exports to the South African market in 2017 included non-woven yarns, polymers of adhesives, calcium carbonate, and fresh grapes.

The significant decrease of imports appeared in coal, spare parts and accessories, electrical appliances, photo and data transports, and frozen meat.

Egypt's non-oil exports rose 10 percent in 2017 to $22.42 billion, up from $20.41 billion in 2016.

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