Exports to exceed $3bn by 2020: Trading Economics

Daily News Egypt
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In Egypt, according to Trading Economics-a remarkable US-based company which provides over 2m economic indicators for nearly 200 countries-exports account for about a quarter of the GDP. The major exports are oil and other mineral products which occupy 32% of total exports, chemical products shape12%, while exports of agricultural products and livestock and others fats factor together 11%, and textiles make up10.5%.

Meanwhile, other exports including base metals, machinery, electrical appliances, foodstuff, beverages and tobacco do not exceed 15% of the export volume.

Major export partners are Italy, Spain, France, Saudi Arabia, India and Turkey, which are considered the top ranked destinations for Egyptian exports.

Exports in Egypt increased to $2.3bn in September from $1.983bn in August of 2018.

Egyptian exports are expected to reach $2.7bn by the end of this quarter, according to Trading Economics’ global macro models and analysts’ expectations.

Looking forward, it estimates exports to stand at $2.240bn in 12 months.

On the long-term, Egyptian exports are projected to drift around $3.400bn in 2020, according to its econometric models.

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