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Ahram Online: Egypt's non-petroleum exports increase by 3%

Egypt's non-petroleum exports recorded a three percent increase during the first nine months of 2019, reaching $19.201 billion, up from $18.708 bn.
29.10.19 | Interesting article at Ahram Online

According to Egypt's foreign trade indices report, released by Egypt's General Organisation for Export and Import Control on Monday, Egypt's imports have slightly decreased, recording $51.399 billion, down from $52.575 billion during the same period of 2018, with a decrease of $176 million.

The report said the exports' increase reflected positively on the trade balance deficit, which has increased by $669 million on 2018.

"The decrease in the trade balance deficit was the result of the trade ministry's efforts in supporting the manufacturing of domestic alternatives to imported products as part of the ministry's plan to boost local manufacturing and strengthen foreign trade," stated the report.

Four export sectors have achieved tangible growth in the first nine months of 2019, including the textile export sector that recorded $2.571 billion, up from $2.335 billion in 2018, rising by 10 percent, engineering industries exports that increased by nine percent, recording $1.873 billion up from $1.722 billion in 2018.