The Egyptian non-oil exports witnessed a remarkable increase of 6 percent during the first quarter of the current 2021 year, reaching 7 billion and 438 million dollars, compared to about 6 billion and 990 million dollars during the same period in 2020.
The government, represented by the Ministry of Industry and Trade, succeeded in supporting the production and export sectors during the Corona crisis with more than 24 billion pounds, which contributed to the continued rotation of the wheel of production, preservation of export markets, and the provision of the necessary liquidity to meet the needs of the productive sector. The government also launched during the Coronavirus crisis, an immediate payment initiative that allows 85 percent of the total value of dues to be paid immediately, instead of paying them in installments that may take several years, which contributes to providing cash to enable the exporting companies to fulfill their obligations towards their customers and maintain employment. These measures contributed to achieving a decrease in the trade balance deficit by 1 percent, as the value of the deficit reached 9 billion and 552 million dollars compared to 9 billion and 685 million dollars during the same period of last year.
The markets of 5 countries accounted for 30.6 percent of the total Egyptian exports, including: The United States of America with a value of 498 million dollars, Saudi Arabia with a value of 456 million dollars, Italy with 447 million dollars, and Malta with 375 million dollars.
Source (Youm7 Website, Edited)
