Egypt’s non-petroleum exports up by 0.52 percent in October

Egypt’s Trade and Industry Minister Tarek Kabil said that for the first time since the start of 2015 Egyptian non-petroleum exports have increased in October to $1.42 billion compared to $1.41 in the same month of 2014, which is an increase of 0.52 percent.

Although it is a slight increase, it is a positive step, especially if compared with the 28.7 percent decline in September, the minister noted, on Thursday, adding that this positive indicator reflects the efforts of the ministry since the new government was formed 50 days ago.

He said the Central Bank provided cash and bank credits for the import of raw material for the industrial sector, cash deposits of export returns from six Arab countries were allowed and export support arrears were paid. All this helped push the export rate,the minister added.