Egypt’s non-oil exports are up 15% year-on-year in 1Q17 to USD 5.5 bn, up from USD 4.8 bn in 1Q16, Trade and Industry Minister Tarek Kabil said as he released trade figures for the quarter. This coincided with a 29% y-o-y reduction in imports to USD 12.1 bn, down from USD 17.0 bn in 1Q16, he added, according to Al Borsa. The nation’s trade deficit narrowed 46.2% from the first quarter last year. Construction materials were the nation’s fastest-growing export, up 60% from 1Q2016, followed by exports of chemicals (up 32%). Other growth sectors included agricultural exports (up 4.1%) and food products (up 1.3%). Egypt’s biggest exports markets include COMESA, the Agadir countries, and the GCC. Spain grew its imports from Egypt a sharp 61.2% year-on-year, followed by Turkey with a 54% rise.

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