Apple, 1st brand to break $1t threshold    EGX closes in green notes on June 12    Egypt's President Al-Sisi, Equatorial Guinea's Vice President discuss bilateral cooperation, regional Issues    Egypt aims to cut debt service by 30%, lower debt-to-GDP ratio to 80%: Maait    European automakers shares skid on 'fear of retaliation' from EU tariffs on China EVs    EFG Hermes advises on Saudi Aramco's $11bn secondary offering, EMEA's largest since 2019    Egypt's Higher Education Minister pledges deeper cooperation with BRICS at Kazan Summit    BRICS power emissions hit a record high in Q1    European stocks gain as investors await US inflation, Fed decision    US to widen sanctions on semiconductor sales to Russia    Gaza death toll rises to 37,164, injuries hit 84,832 amid ongoing Israeli attacks    New Development Bank pledges support for Egypt's development goals    Egypt's Water Research, Space Agencies join forces to tackle water challenges    Egypt hosts first New Development Bank international forum in New Administrative Capital    Egypt supports development of continental dialogue platform for innovative health sector financing in Africa: Finance Minister    BRICS Skate Cup: Skateboarders from Egypt, 22 nations gather in Russia    Pharaohs Edge Out Burkina Faso in World Cup qualifiers Thriller    Egypt's EDA, Zambia sign collaboration pact    Madinaty Sports Club hosts successful 4th Qadya MMA Championship    Amwal Al Ghad Awards 2024 announces Entrepreneurs of the Year    Egyptian President asks Madbouly to form new government, outlines priorities    Egypt's President assigns Madbouly to form new government    Egypt and Tanzania discuss water cooperation    Grand Egyptian Museum opening: Madbouly reviews final preparations    Madinaty's inaugural Skydiving event boosts sports tourism appeal    Tunisia's President Saied reshuffles cabinet amidst political tension    Instagram Celebrates African Women in 'Made by Africa, Loved by the World' 2024 Campaign    Egypt to build 58 hospitals by '25    Swiss freeze on Russian assets dwindles to $6.36b in '23    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Debt swaps could unlock $100b for climate action    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egyptian exports in February increase 2.3% year-on-year
The Increase is due to a recently-adopted programme to support exports, according to claim by Minister of Industry and Foreign Trade
Daily News Egypt Published in Daily News Egypt on 13 - 03 - 2016

The value of Egyptian exports in February increased by 2.3% year-on-year from EGP 1.4bn in 2015 to EGP 1.5bn in 2016.
Egyptian exports in January decreased by 11% year-on-year, according to an official statement from the Ministry of Industry and Foreign Trade.
The building materials sector exported the greatest value of products at $275m, followed by agricultural crops at $235m, fertilisers and chemicals at $225m, food commodities at $214m, engineering commodities at $180m, handmade crafts at $105m, ready-to-wear clothing at $93m, textile goods at $74m, upholstery at $49m, medical equipment and pharmaceuticals at $41m, furniture $29m, leather goods at $12m, and books at $2m.
Minister of Industry and Foreign Trade Tarek Qabil said the increase came following a cabinet programme to support exports with subsidies of EGP 1.5bn in 2016 and 2017.
The programme provides funds to the food, chemical production, engineering, and textile industries.
Qabil explained in a Sunday statement that the Export Development Fund will oversee the programme's operation from April 2016 to March 2017.
The programme will support exporting companies that increased their exports by 25% in 2016 compared to 2015.
Export companies have to submit documents and bills every six months to validate their profits.
Qabil has forecast that the programme will increase the value of exports by $2.5bn.
Egyptian exports to Arab counties increased this past October to $673.4m compared to $594.7m in October 2014, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS).
Meanwhile, imports from Arab countries declined from $1.1bn during that period to $640.2m in October 2015.
Egyptian companies exported products valued at EGP 195.5bn in 2014, compared to EGP 199.8bn in 2013.
Initial reports recorded the value of Egyptian non-petroleum exports between January and November 2015 at $16.76bn, a 17.3% decline compared to the $20.27bn in the corresponding period of 2015.

Clic here to read the story from its source.