Minister of Industry and Trade Tarek Kabil announced that Egyptian exports have increased by 14% during the first four months of 2017 compared to 2016. According to the ministry’s press statement issued on Monday, the value of Egyptian exports reached $7.438bn in 2017, compared to 2016 when they recorded $6.545bn. The statement showed that the main markets that Egyptian exports targeted in the first four months of 2017 were the EU, the US, Turkey, Saudi Arabia, the United Arab Emirates, and Lebanon. The Egyptian exports to the US recorded $381m compared to $370m, while imports decreased by 27% to $1bn instead of $1.279bn, the statement read. As for Italy, Egyptian exports recorded an increase rate of 23% with $505m in 2017, compared to $438.9m in 2016, while Italian imports recorded $978m compared to $1.260bn in the same period, decreasing by 22%.

Source: Daily News Egypt May 29, 2017 15:22 UTC