Exports to Libya increase value of Egyptian exports

A rise in exports to Libya have driven an increase in the value of Egyptian exports in September 2012 on annual basis for the first time in six months.

According to the latest release from the Industry and Commerce on Monday said the increase in the value of construction materials from EGP2.8bn in September 2011 to EGP4.8bn in September 2012 drove the spike.

The total value of all Egyptian exports reached EGP11.7bn (US$1.9bn) in September 2012 versus EGP10.17bn in the same month last year.

An increase in construction materials to Libya, specifically impacted the hikes, said Ahmed El-Zeini, head of construction material division in Cairo's chamber of commerce.

"Libya started to import large quantities of Egyptian cement, taking advantage of the lower costs, since it is transported via trucks, unlike Turkey and other countries," Al Zeiny says. (Source: Ahram Online)