Non-oil imports drop 29% y-o-y in 1H2017

Egypt’s non-oil imports fell 29% y-o-y to USD 24 bn in 1H2017 from USD 33.9 bn last year, according to a General Organization for Import and Export Control report picked up by Al Shorouk. The first quarter saw a drop of 25% and the second 34% y-o-y. Imports from Arab nations saw the most significant drop of 44%, while Russian imports only slid down 2% y-o-y. China remains our biggest source of imports, despite a 30% decline compared to 1H2016.