Chemical Exports Hiked 39% in 2017

Egypt’s chemical exports recorded $3.58 billion from January to the end of October, marking 39 percent of growth compared to $2.58 billion of exports in the same period in 2016.

A report from the Chemicals & Fertilizers Export Council said Tuesday that October exports alone stood at $415 million, up from $317.9 million in October 2016.

Chairman of the council Khaled Abul Makarem said they are targeting increasing exports to Iraq and Libya by 50 percent.

Egypt’s chemical exports increased by 37 percent to reach $1.7 billion in the first five months of 2017 compared to $1.2 billion year-on-year.

The chemicals sector as a whole is said to account for 3 percent of GDP and 12 percent of the industrial sector's volume, according to official figures.

By 2020, Egypt plans to produce more than three million tons of chemical products, under a 20-year national plan, which involves a range of products from ethylene and polyethylene to olefins and aromatics.