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Egypt’s exports to 5 states hit $4.2B in 5 months

Tuesday 08-08-2017 - 05:29 PM
News Agencies
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Archive photo
Cairo - Egypt’s exports to the UAE, Italy, Turkey, Saudi Arabia and the U.S. reached $4.2 billion in the first five months of 2017, up from $3.4 billion in the year-ago period, the Trade Ministry’s foreign trade bulletin said Monday. 

Exports to these five countries represented 40 present of Egypt’s total exports worth $10.6 billion in the period between January and May 2017. 

Egypt’s exports to the UAE came on top in terms of the value, amounting to $1.3 billion, followed by Italy and Turkey with $879.2 million and $761.2 million, respectively. 

Saudi Arabia came fourth with $684.7 million, followed by the United States with $510.9 million. 

Egypt’s trade balance deficit declined 43.8 percent to $2.32 billion in May 2017, down from $4.14 billion in the same month of the previous year, state official statistics from CAPMAS revealed. 

The value of exports rose 8.8 percent year-on-year to $2.28 billion compared to $2.09 billion last year. 

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