Egypt’s Non-oil Exports Climb 19%

Egypt’s Non-oil Exports Climb 19%

Container ship RDO Concord sails through the Suez Canal as Egypt celebrates the 150th anniversary of the canal opening in Ismailia, Egypt on November 17, 2019. (File Phot: Reuters)

Egypt's Minister of Trade and Industry Nivine Gamea announced that the country's non-oil exports recorded a significant increase of 19 percent in the first five months of 2021.

Imports reached $12.323 billion during the period, compared to approximately $10. 375 billion in the same period in 2020.

During a press conference on Sunday, Gamea added that Egyptian exports surged by 50 percent in May 2020, amounting to $2.288 billion, compared to $1.522 billion in May 2020.

The government's economic reform program represents a pillar in achieving positive growth rates, especially in productive projects. These effects are positively reflected in increasing export rates and providing new job opportunities, Gamea disclosed.

The minister noted that Egyptian imports also recorded a slight increase of 10 percent in the first five months of this year, registering $29.161 billion, compared to $26.422 billion in the same period in 2020.

She pointed out that the geographical distribution of Egyptian exports during the reporting period included: the European Union with a value of $3.885 billion, the Arab League with a value of $3.719 billion,