Engineering Sector Adds $10.7 bln To Egypt’s Trade Deficit In 2012

Egypt’s sector of engineering and technical goods added $ 10.7 billion to Egyptian trade deficit at the end of Q3, 2012; due to the big difference between the values of the sector’s exports and imports. Reliable sources in the ministry of industry and foreign trade told Amwal Al Ghad that the sector’s exports during this period recorded $ 1.85 billion, while the imports reached $ 12.5 billion. The sector’s most imports came from Southeast Asia, especial the Chinese market, which its exports to Egypt reached $ 2 billion, and also South Korea and Japan; while the imports from European Union reached $ 5 billion. The Egyptian exports of engineering products to Arab markets reached $ 900 million; meanwhile, the European Union received less than $ 50 million.