Monday, May 25, 2020

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Egypt’s building materials exports surge to $1bln

ArabFinance: Egyptian exports of building materials, refractory, and metallurgy increased to $1.026 billion during January and February, according to the monthly report by the Export Council for Building Materials, Refractory & Metallurgy Industries (ECBM).

The exports were 14.4% higher than $896.584 million in the corresponding period in 2019.

The UAE topped the list of 10 countries importing from Egypt with $406 million which increased by 43% from $284 million a year earlier.

Canada came in the second place with $135 million in the first two months of 2020, compared to $103 million.

Italy followed with $73 million, registering an annual increase of 11% from $65 million.

Turkey imported $22 million worth of building materials from Egypt, posting a year on year (YoY) growth of 44% from $15 million.

Meanwhile, Egypt’s exports to the US plunged by 48% YoY to $19 million in January and February from $36 million.

Saudi Arabia posted a decrease of 14% to $52 million from $61 million.

Furthermore, Libya has imported $30 million worth of building materials from Egypt, down by 7% YoY from $32 million.

Copyright © 2020 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (

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