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Egypt’s exports of iron and steel record $365 million in 8 months

Egypt’s exports of iron and steel declined in the first 8 months of 2020 to $365 million , compared to $497 million in the same period in 2019, a decrease of 26%.

The monthly report issued by the Building Materials Export Council indicated that the value of Egyptian steel exports increased by 64% last August, reaching $ 59 million, compared to $ 36 million in August 2019.

The report stated that during the first 8 months, iron was exported to 75 countries, 20 of which were not exported to them during the same period last year, namely (South Korea, Malta, Croatia, Seychelles, Palestine, Congo, Zaire, Heng Keng, Kuwait, Union Malaysia-formerly Malay, El Salvador, Israel, Mali, Ivory Coast, Mozambique, New Zealand, Angola and Cabbanda, Togo, Niger, the Russian Federation, Benin).

5 countries “Saudi Arabia, Spain, Italy, Kenya and Sudan” controlled 56% of the total iron and steel exports in that period, with a value of $ 204.857 million.

Saudi Arabia controls 34.8% of steel exports

The Kingdom of Saudi Arabia accounts for 34.8% of total Egyptian steel exports, ranking first with a value of $ 127.037 million, compared to $ 140.032 million, down 9%.

Spain ranked second in the list of the top 10 importers of Egyptian steel , with a value of $32.8 million , compared to $36.136 million , a decrease of 9%.

The value of iron and steel exports to Italy decreased by 10% in the period from January – August 2020, to record $25.724 million , compared to $28.528 million .

Sudan ranked fifth in the list of the 10 largest importers of Egyptian steel, with a value of $ 19.296 million, compared to $ 35.205 million, a decrease of 45%.

Egypt’s exports of steel to USA decreased to about $11.496 million against $36.496 million , down 68%, and to Canada by 65% ​​to 9.948 million dollars against $28.11 million.

The value of iron and steel exports to Jordan decreased by 3% in the period from “January – August 2020 to record $18.209 million against $18.721 million , and to Yemen by 23% to $11.496 million against $14.637 million .

Egypt’s steel exports to the Netherlands rose to about $16.342 million compared to $6.683 million , a growth of 145%, and to Kenya by 51% to $25.513 million against $16.925 million .

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Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.

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