Friday, October 22, 2021

Egypt’s exports of iron, steel hike 197% in 8 months

Egypt’s exports of iron and steel soared 197% during the first eight months of 2021, the Middle East News Agency (MENA) reported.

Iron and steel exports reached $1.097 billion during the eight-month period ended in August 2021, compared to $369 million in the same period of 2020.

A total of 76 countries received Egypt’s exports of iron and steel during the January-August period, nine of which acquired 83.4% of the total exports. Italy topped Egypt’s exports of iron and steel with a value of $269.285 million or 24.5%, followed by Spain with $258.587 million or 23.5% and Saudi Arabia with $100.503 million or 9.1%.

However, the country’s cement exports jumped by 198% to $281 million in eight months period, compared to $94 million in the corresponding period a year earlier. Libya was the largest importer of Egypt’s cement with a value of $45.296 million or 16.1%, followed by Côte d’Ivoire with $44.935 million or 15.9% and Ghana with $36.991 million or 13.1%.
Source: Arab Finance

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