Cotton sales boost Egypt agricultural exports
Egyptian exports of agricultural products have risen by 48 per cent over January-August-2004, a recent Ministry of Industry and Foreign Trade's statistical report indicated.
Exports hit US$869 million compared to US$776 million over the same period in 2003. The report added that Egyptian exports were cautious in regard to the increasing value of the Egyptian pound.
The primary reason for the overall export increase was the 34 per cent increase in cotton exports during the first 8 months of 2004, hitting US $ 437 million against US $345 million for the same period in 2003.
The report also noted that this took place despite the international drop in cotton prices.
Meanwhile, construction and building material exports have increased by 2 percent, hitting US $499 million against US $405 million in 2003. Unfortunately, the exports of chemical, pharmaceutical and medical equipment have decreased by 6 per cent down to US $ 282 million.