34% decrease in volume of trade between Egypt, US in January 2012

Ezz Eddin Ashraf, Egyptian envoy to the United States, said that the volume of trade between Egypt and the US in January 2012 decreased by 34.2 percent to US$545.3 million, compared to $829.8 million in January 2011.

Ezz Eddin told Al-Masry Al-Youm that Egypt's exports decreased by 10.9 percent during January 2012, compared to January 2011, to $152.3 million from $171 million. He said the decrease was due to Egypt’s failure to export any petroleum products last January, compared to $26.9 million worth of oil exports in January 2011.

He added that Egypt previously exported metal fuel, liquefied natural gas and crude oil to the US.

Ezz Eddin said non-oil exports rose in January 2012 to reach $152.3 million, a 5.6 percent increase from $144.1 million in January 2011.

Products listed in the Qualified Industrial Zones agreement witnessed the greatest export increase, rising by 29.4 percent to reach $106.3 million in January 2012 from $82.1 million in January 2011.

Ezz Eddin noted that the most important Egyptian exports were textiles, carpets and cotton, in addition to urea fertilizer and decorative pieces, vegetables, medicinal herbs and aluminum.

Egypt was ranked 43 on the list of countries importing from the United States in January 2012. It was ranked second in Africa after South Africa, third among Arab countries after the UAE and Saudi Arabia, and third in the Middle East after Israel and Turkey.

Edited translation from Al-Masry Al-Youm

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