Egypt’s Trade and Industry Minister Tareq Qabil said on Tuesday that Egyptian commodity exports to the Spanish market made big growth over the past year. Commodity exports reached about 640.5 million euros in 2017, up from 420.5 million euros in the year before, with a 52.3 percent increase. Qabil said that this came as a result of the increase in Egyptian products’ competitiveness and faith in the huge market. Qabil said Egypt’s imports from Spain decreased to 1.26 billion euros in 2017, down from 1.38 billion euros the year prior, with a decrease rate of 8.6 percent. He pointed out that the growth of trade volume between the two countries contributed to reducing the trade balance deficit by 76.5 percent, to record 133.3 million euros in 2017 compared with 568.7 million euros in 2016.

Source: Egypt Independent April 04, 2018 13:18 UTC