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Egypt’s Exports to Russia Hit Record High Topping $500m for First Time
Source: 1/23/2018

Exports to Russia stood at $464.8mln in 2017, up 32.8% from $350mln a year earlier.

Based on the latest report by the Egyptian commercial office in Moscow, Minister of Trade and Industry Tarek Kabil said that Egypt’s exports to Russia smashed through $500mln in 2017 for the first in the history of Egyptian-Russian relations.

Kabil pointed out that exports to the Russian market increased significantly during the first 11 months of 2017, reaching $464.8mln, up 32.8% from $350mln in 2016.

“Export growth to Russia is primarily thanks to a rise in the shipments of some Egyptian products, on top of which fresh vegetables and fruits which account for 77% of Egypt’s total exports to Russia,” said Naser Hamed, head of the Egyptian commercial office in Moscow.

During the Jan-Nov period of 2017, exports of fresh vegetables and fruits increased by 39%, home appliances by 550%, and medical products by 49%, according to the report.

“The FTA between Egypt and the Eurasian Economic Union (EEU) will considerably boost bilateral trade with member states; including Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan,” Kabil noted. The FTA talks are expected to start within the next few months.

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