Egypt’s non-petroleum exports rose by 24 percent year-on-year to reach LE13.8 billion in March, Trade Minister Hatem Saleh stated on Monday.
The increase brings the value of all Egyptian exports for the current year to date to a total of LE37.8 billion.
Egyptian exports, a primary source of foreign currency for the cash-strapped country, are subsidised by the government.
In February, Egypt’s Export Development Fund announced that it had earmarked LE1.5 billion for export promotion in the first half of the current fiscal year.
In March, exports of construction materials enjoyed the most growth, bringing in LE3.4 billion. This is compared to LE2.5 million for the same month the previous year.
Egyptian exports to Saudi Arabia last month increased by 26 percent on the previous year to reach LE3.7 billion. Exports to the US fell by 12 percent, meanwhile, from LE2.2 billion last year to a current LE1.9 billion.
Ahram
