Egypt chemical substance industry exports grow 22% in Q1 2021

Egypt’s chemical industries exports on the primary quarter (Q1) of 2021 have recorded a growth rate of 22%, in line with the General Corporation for Export and Import Control (GOEIC).

The rise came as exports increased from $1.249bn to $1.53bn in Q1 of 2020.

A monthly record by GOEIC noted that in March 2021, chemical industries exports documented a growth fee of 17% over the same month in 2020. The volume of exports registered approximately $529m in March 2021, compared to near by $451m in March 2020.

The report highlighted that total Egyptian exports have recorded an 8% growth rate in Q1 of 2021, with exports amounting to $7.688bn in the quarter, in comparison to $7.142bn in the same period last year.

According to the article, exports of plastics and rubberized products witnessed a growth rate of 50% during the period by January to March 2021, as exports rose right from $430.6m to $647.5m.

Meanwhile, fertiliser exports witnessed hook increase in the growth charge of 5%, increasing from $384m to $403m. Exports of inorganic chemicals heightened by 30%, because they recorded a rise of $116.23m compared to $89.54m, even while organic chemical substance exports witnessed a rise level of 51%, increasing from $48m to $72.3m.

Detergent exports witnessed a 3% decline in growth amount, declining from $62.55m to $60.68m, even though inks and paints exports increased 21%, with exports of the products rising from $47.72m to $57.72m.

Nevertheless, paper and cardboard products exports decreased by 7%, as they declined from $61.48m to $57m. Exports of glass products also witnessed a decline, discovering a growth price of 3%, as exports retreated from $59.97m to $48.41m.

Turkey ranked primary on the set of importing countries for Egyptian chemical substance industries exports found in March, with worth of $90m. It obtained about 17% of Egypt’s total exports from chemical industries, ensuring Turkey achieved a growth fee of 31% in March 2021 in comparison to March 2020.

The US ranked in second regarding Egyptian exports, with a value of $40.475m in March 2021. This reflected a rise of 2% compared to the volume of exports through the same month of this past year, as exports by Egypt’s chemical industries to the US grew to about 8% of the full total Egyptian exports.

Italy came in third place with benefit of $36.097m, a rise charge of 5%, whilst Spain came in 4th place, with imports reaching $28m, reflecting a rise price of 25%. Meanwhile, Belgium came in fifth place, with imports valued at $27.33m a growth rate of 172%.

Saudi Arabia ranked sixth, with imports recording $21.069m and a rise rate of 8%, even while Libya ranked seventh, with imports registering $19.48m and a rise rate of 70%.