ECBM: Egypt's exports of building materials hit $ 1.5 bn during Q1 2020

CAIRO, April 25 (MENA) - Egypt's exports of building materials, refractory and metallurgy industries hit 1.5 billion dollars during the first quarter of 2020, recording an increase of 32.8 percent, compared with 1.15 billion dollars during the same period last year.

According to the monthly report of Export Council for Building Materials, Refractory & Metallurgy Industries (ECBM), the country's exports of building materials, refractory and metallurgy industries recorded 501 million dollars in March.

Ten countries account for almost 75.4 percent of the exports with a values of 1.15 billion dollars, according to the report.

Egypt's exports of building materials to the UAE increased during the first three months of 2020 by 64 percent to reach 567 million dollars.

The latest rise in exports to the UAE makes the Gulf country absorbing nearly 37 percent of Egypt's building material export, the report read.

Egypt's exports of building material to Canada have reached 191 million dollars between January-March 2020, with am increase of 23 percent, while exports to Italy rose by 29 percent and to Turkey by 34 percent.

Exports to Australia rose by 4,048 percent to record 33 million dollars and to Spain by 19 percent to reach 33 million dollars as well.

Exports of building materials to the US retreated by 56 percent to hit 26 million dollars during the first quarter of 2020, as exports to Saudi Arabia dropped to 74 million dollars with a decline of 24 percent.

Meanwhile, exports of jewels and precious stones reached 743 million dollars during the first three months of 2020, with an increase of 58 percent, according to the report.