Egypt's exports of building materials hike 44% end of April

CAIRO – 11 June 2017: Egypt's exports of building materials surged 44 percent, reaching $1.8 billion year-on-year in the first four months of 2017, the Export Council for Building Materials (ECBM) said in a Sunday statement.

The total exports of the metal industries sector registered $1.4 billion, up from $957 million in the same period a year earlier, read the statement.

The ECBM attributed part of this increase to the 53 percent hike witnessed in the volume of jewelry and precious stones' exports, recording $916 million by the end of April, compared to $598 million within the same period in 2016.

In this regard, the statement noted that the UAE is the biggest importer of Egypt's jewelry and precious stones with $605 million by the end of April.

Meanwhile, Egypt's exports of iron and steel surged 296 percent, hitting $286 million, compared to $72 million year-on-year in the first four months of 2017, the report said, adding that the aluminum exports also rose 11 percent, registering $139 million by the end of April 2017.