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Egypt: Exports up 15% in the first quarter of 2018

April 28, 2018 at 12:22 pm

Egyptian exports rose 15 per cent during the first quarter of this year, the Anadolu Agency reported the country’s trade minister saying.

In a statement, the Minister of Trade and Commerce, Tariq Kabil, said exports increased to $6.324 billion in the first quarter of 2018 compared to $5.520 billion in 2017.

No figures were given regarding imports however the minister said the deficit improved by two per cent.

External trade, the statement said, increased by nine per cent.

Egypt hopes to double exports from $19 billion in 2016 to $34 billion in 2020.

The North African country’s economy has been badly hit following the 2011 revolution which ousted long term dictator Hosni Mubarak and the subsequent coup which saw the country’s first democratically elected president overthrown by a military dictator.