$ 2.8 billion boost for expansion of National Bank of Egypt’s retail portfolio

CAIRO: Egyptian copper exports increased 130% in 2021 between January and October, the National Building Materials Exports Council said in its latest report.

According to statistics, copper exports reached $ 296 million during the period, compared to $ 129 million during the same period in 2020.

Egypt exported copper to 45 countries. Of the total, 16 markets were added to the country’s list in 2021.

New markets include South Africa, Mozambique, Malta, Qatar, Switzerland, Canada, Rwanda, Senegal, Russian Federation, Australia, Tunisia, Tanzania, Vietnam and Vietnam. Spain, according to the Middle East News Agency.

Saudi Arabia was the largest importer of copper, with imports rising more than 4,000 percent to $ 70 million, from $ 1.6 million last year, accounting for 24 percent of the total value of copper exports.

Copper exports to Lebanon increased 350%, reaching $ 31 million, from $ 7 million in 2020, while Greece recorded a 180% increase, to reach $ 30 million, from $ 10.6 million dollars last year.

The council said total copper exports to China rose 777% to $ 27.6 million from $ 3 million last year.

However, exports to Algeria and Jordan declined from last year, down 32 and 25 percent respectively, the report adds.