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Wednesday, 18 July 2018

Non-oil exports grow 14% y-o-y in 1H2018

Egypt’s non-oil exports grew by 14% y-o-y in 1H2018 to USD 12.75 bn, compared to USD 11.22 bn in the same period last year, the Trade and Industry Ministry said in a statement. Our biggest export market was the UAE (USD 1.33 bn), followed by Turkey (USD 1.13 bn), and Italy (USD 773 mn). Chemical products were the top exported commodity, reeling in around USD 2.59 bn, followed by textiles (USD 449 mn), and medical products (USD 249 mn).

Meanwhile, the CBE has amended its targeted projections for remittances in FY2017-18 to USD 26.0 bn, according to an emailed statement from the CBE (pdf). This came as the CBE amended the count on remittances figures for 10M2017-18 to USD 21.9 bn from USD 26.0 bn. Remittances in April grew to USD 2.3 bn from USD 1.7 bn in April 2017.

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