Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

CBE: Petroleum Exports Increase 57.6%


Fri 05 Apr 2019 | 08:32 AM
Taarek Refaat

By: Taarek Refaat

CAIRO, Apr. 5 (SEE)- Central Bank of Egypt (CBE) said in a statement on Friday that Oil exports increased by an average of 57.6 percent to record $ 6 billion, due to the increase in exports of petroleum products by 75.8 percent and crude oil by 39.7 percent.

Non-oil exports also witnessed an increase of 0.3 percent to reach $ 8.3 billion, mainly due to an increase of 4.3 percent in exports of finished goods. The most significant commodities that witnessed an increase in exports were organic and inorganic compounds of chemicals and aluminum.

The bank pointed out that imports of goods increased by 8.8 percent to reach $ 33.5 billion compared to $ 30.8 billion due to the increase of non-oil exports by 11.5 percent, recording $ 27.7 billion alone.

Imports of the raw materials increased by 15.7 percent, while the consumer goods by 14 percent, including wheat, vehicles, spare parts and tractors.

However, petroleum imports declined by 2.1 percent to record $ 5.8 billion, compared to $ 6 billion, due to the decrease in imported petroleum as well as crude products, including self-sufficiency of natural gas.