11 January 2013

Egypt: Minister - Egyptian Exports Up 2 Percent in 2012

Egyptian exports inched 2 percent up in 2012 to stand at 132 billion EGP, Minister of Trade and Industry Hatem Saleh said Thursday 10/01/2013.

This is a positive sign reflecting that the ailing Egyptian economy is recovering, Minister Saleh said, noting that the ministry is keen on backing all exporting sectors to help them open new markets abroad.

Furniture and medical exports have largely flourished in 2012 registering a 13 percent rise in 2012 in comparison with 2011, he said referring to a foreign trade department report.

Saudi Arabia topped the list of Egyptian products' exporters. The Kingdom's exports from Egypt posted LE11.876 billion in 2012 at only one percent rise in comparison with 2011.

Egyptian exports to Libya have almost tripled standing at LE9.026 billion in 2012 against LE3.236 billion in 2011, he said.

Egyptian exports to the US have however plunged from LE9.182 billion in 2011 to LE8.809 billion in 2012, the minister added.

Due to the ongoing war in Syria, Egyptian exports to the Arab state thudded down by 49 percent in 2012 to stand at LE146.2 billion, he said.

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