Saturday, October 16, 2021

Egypt’s iron and steel exports jump 197% in 8 months

Egypt’s iron and steel exports in the first eight months of 2021 have jumped 197 percent to $1.097 billion, from $369 million in the same period last year.

In August this year, exports rose to $177 million from $60 million in the same period last year, according to the Egyptian Export Council for Building Materials’ (ECBM) monthly report seen by Amwal Al Ghad on Tuesday.

Egypt has exported iron and steel to 76 countries in the January-August period this year, including 18 markets that were not included in the January-August 2020 period. They are Pakistan, Djibouti, Ireland, Belize, Trinidad and Tobago, Peru, Federation of Nigeria, Guyana, Congo (Brazzaville), Mayotte, Burundi, Ecuador, Guinea, Iraq, Slovakia, South Africa, Czech, and Réunion Island, the report showed.

Egypt’s Top 10 Steel Export Markets

According to the report, some 10 countries have had the lion’s share of the Egyptian iron and steel exports in the January-August 2021 period. They are Italy, Spain, Saudi Arabia, the United States, Canada, Brazil, Portugal, Belgium, Netherlands, and Turkey.

Italy ranked first, having a 24.5 percent share of the exports. Egypt’s iron and steel exports to Italy soared 865 percent year-on-year in the first eight months of 2021 to $269.285 million.

Spain came in the second position, with imports worth $258.587 million. Saudi Arabia was third with imports of $100.503 million, followed by the United States of $89.336 million, and Canada of $56.621 million.

Exports to Brazil skyrocketed by 8351% to $50.932 million in the January-August 2021 period, from $603,000 last year.

Meanwhile, Egypt’s exports to Portugal climbed 42912 percent to $43.271 million from $101,000 last year. Exports to Belgium also edged up 3008 percent to $28.495 million from $917,000.

Exports to Netherlands and Turkey rose to $18.272 million and $18.167 million, respectively.

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