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Egypt's non-petroleum exports up 16%, trade deficit down 11% in Jan. - min

Egypt's non-petroleum exports ratcheted up 16% in January 2018 to stand at $1.9 billion against $1.6 billion in January 2017, Minister of Trade and Industry Tareq Qabil said.

Egypt's imports in January 2018 slipped 4% recording $4.6 billion against $4.7 billion in the same month in 2017, Qabil said in accordance with a recent report on Egyptian trade indicators.

 The trade balance deficit shaved off 11% in January to stand at $2.69 billion against $3.04 billion in the same month in 2017, the minister added.

The volume of the Egyptian foreign trade reached $6.5 billion in January 2018.

Egypt's exports to the EU markets, which are vital to the Arab state, hit $557 million in January 2018 against 451 million in January 2017, marking a 24% rise.

Egypt exports to Arab markets inched up 6% to register $766 million in January 2018 in comparison with $726 million in January 2017, he added.

Egyptian exports to African states ramped up 27% in January 2018 to record $97 million against $76 million in the same month in 2017.

He noted that these numbers show that the Ministry of Trade and Industry is on the right track in terms of implementing its 2020 strategy which aims at tapping new markets, expanding current ones, boosting exports, shrinking imports and maximizing the benefit of free trade deals.



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