Egypt’s non-oil exports to Saudi Arabia dropped by 18.7 per cent to EGP83.90 billion compared with EGP96.49bn during the same period last year, a recent report shows.
According to the report released by the General Organisation for Exports Imports & Control, the Saudi market received Egyptian exports valued at EGP1.152bn in January 2015, then rose during February to EGP1.169bn, reports The New Khalij.
Egypt’s exports continued to climb in March to reach EGP1.593bn, but fell during April to EGP1.495bn and then rebounded during May to EGP1.575bn.
The exports fell again during June to a record value of EGP1.417bn and then continued to decline during July to reach EGP1.104bn, down by 22 per cent.
Saudi Arabia topped the list of the most important receiving countries for Egyptian exports during the first 7 months of this year, valued at EGP9.505bn, up by 4.4 per cent compared to the same period of last year 2014, which recorded EGP9.107bn.
(EGP1 = AED0.47, at the time of publishing)