Egypt’s exports of chemical products and fertilisers plunged by 30 per cent in the first eight months of the current year, according to new data.
By the end of August, the North African Arab nation’s exports of chemicals and fertilisers tumbled to EGP14.2 billion compared with EGP20.2bn in the same period in 2014.
Turkey was the biggest buyer of Egyptian chemicals and fertilisers accounting for 16 per cent or EGP2.3bn of the total, according to data released by the General Organisation for Export and Import Control.
The top five importers of Egyptian chemicals and fertilisers include Saudi Arabia (EGP980 million); France (EGP653m); Italy (EGP597m) and Belgium (EGP590m), the data published by Amwal al-Ghad indicates.
The United States of America’s imports of these Egyptian products amounted to EGP320m.
During the eight-month period, plastics exports accounted for the major chunk of Egypt’s chemical products and fertilisers at a value of EGP5.8bn, followed by paper products (EGP2bn), fertilisers (EGP1.4bn) and inorganic chemicals at a value of EGP1.4bn.
(EGP1 = AED0.47, at the time of publishing)