Exports to GCC states hit $2.4B in 5 months



Thu, 10 Aug 2017 - 06:00 GMT


Thu, 10 Aug 2017 - 06:00 GMT

Exports ship - Pixabay

Exports ship - Pixabay

CAIRO – 10 August 2017: Egypt’s exports to the GCC states increased to $2.4 billion in the first five months of 2017, up from $2.1 billion from the previous a year ago, Trade Ministry’s foreign trade bulletin said.

Imports from the UAE, Saudi Arabia, Bahrain, Oman, Qatar and Kuwait also rose to $2.65 billion in the period between January and May 2017, compared to $2.615 billion in the same period of the previous year.

Egypt’s total exports and imports stood at $10.6 billion and $22.7 billion, respectively, during the five months, compared to $9 billion and $30 billion, billion, in the year-ago period.

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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.

The value of exports rose 8.8 percent year-on-year to $2.28 billion compared to $2.09 billion in the year-ago period.

Trade Minister Tarek Kabil stated to Egypt Today that the level of export of the industrial sectors has witnessed notable development after the decision to float the Egyptian pound in November.



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