Egypt steel exports decline 43% in 5 months
The monthly report issued by the Building Materials Export Council showed that Egypt’s exports of steel in January-May 2020 decreased by 43% to $ 207 million, compared to $ 363 million during the same period in 2019.
The report stated that during the five first months, 68 countries were exported to, and 17 of which were not during the same period last year.
Five countries accounted for 63.8% of Egypt’s total steel exports during the first five months of 2020, with $132.036 million, topped by Saudi Arabia with a value of $67.288 million , compared to 98.508 million dollars, a decline of 32%.
Spain came second in the list of the top five countries importing Egyptian iron, with a value of $19.932 million , compared to $14.339 million , a growth of 39%.
Egypt’s steel exports to the Netherlands increased to about $14.392 million against $3.89 million , a growth of 270%, and to Kenya increased by 31% to $12.866 million against $9.792 million .
The value of steel exports to Italy decreased by 21% during the period from “January – May 2020” to $17.558 million , compared to $22.161 million .