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Exports of iron and steel stood at $584m during the period between January and May of this year
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Nearly 80 percent of these exports went to Spain, Saudi Arabia, Brazil, the US, Kenya
During the first five months of this year, the Egyptian export of iron, steel has surged 179 percent to $584, lending a much-needed boost to the economy of the North African country.
According to a monthly Export Council for Building Materials report exports of iron and steel stood at $584 million during the five-month period between January and May 2021, compared to $209 million in the same period of 2020.
The report showed that 78.9% of these exports went to Spain, Italy, Saudi Arabia, Brazil, the US, Kenya.
From January to May, Egypt’s exports of iron and steel went to 70 countries. Of these, 15 countries, including Burundi, New Zealand, Iraq, Russia, Ecuador, Guinea, Nigeria, Congo Brazaville, Peru, Djibouti, Pakistan and Benin had not imported Egyptian iron and steel during the same period in 2020.