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Egypt’s exports to Turkey rise by 38.5% in 2017، Trade Minister

Sunday 11/March/2018 - 02:10 PM
Sada El Balad
Hassanein Tayea
Minister of Trade and Industry Tarek Kabil said on Sunday that the Egyptians exports to Turkey increased by 38.5 %، hitting $1.998 billion in 2017، compared to $1.443 billion in 2016.

Kabil added that the Egyptian imports declined by 13.7 %، to $2.36 billion، compared to $2.733 billion in 2016.

This came with a recent report from the Egyptian Commercial Office in Istanbul on the movement of trade exchange between Egypt and Turkey during 2017.

The minister added that the trade deficit between the two countries fell to $360 million with a 72 percent decrease، compared to 2016.

He noted that the coverage rate of the Egyptian exports to imports rose from 53 percent in 2016 to 85 percent in 2017، referring that Turkey is the second largest importer from Egypt after the United Arab Emirates.

First Deputy Minister of Trade Ahmed Antar attributed the increase of Egyptian exports to the Turkish market to the rise of exports in three industrial sectors that represent 80 percent of Egypt’s total exports، which are chemicals at 89 percent، clothing and textiles at 23 percent and plastics at 31 percent.

Egyptian Activists called on February 24 via twitter for cutting the purchase of Turkish products in response to Turkish President Recep Tayyip Erdoğan’s policy against Egypt and Arab countries in favor of Qatar after the boycott.

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