A man walks in front of chimneys at a chemical factory in Kawasaki, south of Tokyo October 23, 2009 - REUTERS/Issei Kato
CAIRO – 10 April 2018: Egypt’s exports of chemicals and fertilizers increased by 22.2 percent in January and February 2018, recording $748 million, compared to $613 million in the same period of 2017, according to data from the Chemicals and Fertilizers Export Council.
The council showed that the chemicals and fertilizers sector’s exports stood at $364 million in January 2018, compared to $287 million the previous year, recording a 26.8 percent increase.
In February, exports reached $384 million, versus $326 million last year, recording a 18.4 increase.
The council’s head Khaled Abo el-Makarem said that the sector aims to increase its exports by 20-25 percent this year, saying that the hike in exports in the first two months of 2018 would support the sector’s target.
He added that commercial delegations to European, Arab and African markets would be organized to boost Egypt’s market share in these markets.
Data from the council showed earlier that Egypt’s exports of chemicals and fertilizers rose 32 percent year-on-year in the period from January to November 2017.
Exports recorded $3.9 billion in the 11-month period, up from $2.991 billion in the previous year.
Egypt’s overall exports increased seven percent year-on-year in January 2018 to reach $2.15 billion, compared to $2.01 billion in the same month in 2017, the state statistics agency CAPMAS said on Sunday.
In its monthly bulletin on foreign trade data, CAPMAS ascribed the increase to a hike in the exports of some goods, such petroleum products, increasing by 174.9 percent, detergents (31.4%), dairy products (9.7%) and ready-made garments (5.7%).
Egypt’s Trade deficit declined 15.7 percent year-on-year in the first half of fiscal year 2017/18, dropping from $21.7 billion to $18.3 billion, Planning Minister Hala al-Saeed said in February.