Egypt’s iron and steel exports declined by 13% in the first ten months of 2024, dropping to Egypt’s iron and steel exports declined by 13% in the first ten months of 2024, dropping to $1.695 billion..695 billion. In the same period of 2023, this figure was In the same period of 2023, this figure was $1.942 billion..942 billion. According to a report from the Export Council for Building Materials, Refractories, and Metal Industries, Egypt exported to 83 different countries during this period.
Türkiye remained Egypt's largest market with Türkiye remained Egypt's largest market with $190.5 million in imports, although this represents an 18% decrease compared to the previous year.90.5 million in imports, although this represents an 18% decrease compared to the previous year. Exports to Spain dropped by 46%, totaling Exports to Spain dropped by 46%, totaling $187.5 million, while exports to Italy fell by 42% to $154.7 million.87.5 million, while exports to Italy fell by 42% to Exports to Spain dropped by 46%, totaling $187.5 million, while exports to Italy fell by 42% to $154.7 million.
Exports to the United States also saw a significant decline of 43%, amounting to Exports to the United States also saw a significant decline of 43%, amounting to $108.2 million.08.2 million. These sharp declines in exports to European and U.S. markets have severely impacted Egypt’s total iron and steel exports. The decrease is believed to be due to factors such as global market stagnation and increasing competition within the industry.
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