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1st QUARTER 2016 2nd QUARTER 2016 3rd QUARTER 2016 4th QUARTER 2016
The Egyptian-British Chamber of Commerce
International Trade Report Q3 2016
Prepared by the Egyptian-British Chamber of Commerce
Nov 2016
Britain has a long history of strong shared interests with Egypt; the UK is the largest foreign investor in Egypt and total
trade volume between the two countries was over £1.5 billion in 2015.
Egypt’s preferential trade agreements, a highly competitive and skilled labour force, a young population (50% is under
the age of 35), low utility costs, proximity to key global markets, and a large domestic consumer market (90 million) make
it an ideal country to trade with.
The EBCC’s Quarterly Trade Report gives you our trade and economic outlook for the UK & Egypt, as well as statistical
information on trade in goods between Egypt and the UK for the period Q1 to Q3 2016 (January to September 2016).
UK Trade Confidence Index
-40
-30
-20
-10
0
10
20
30
40
50
Q1 08 Q3 08 Q1 09 Q3 09 Q1 10 Q3 10 Q1 11 Q3 11 Q1 12 Q3 12 Q1 13 Q3 13 Q1 14 Q3 14 Q1 15 Q3 15 Q1 16 Q3 16
% B
ALA
NC
E
Service Sector Manufacturing Sector
-- Recession --
In the third quarter, the proportion of firms reporting improved export
performance saw a sectoral divergence. While the number of manufacturers
enjoying an improved export performance rose in the quarter, the balance of
service sector firms reporting improvements fell to the lowest level in five years.
In the manufacturing sector, the balance* of firms reporting improvements in
export sales over the previous three months rose to +17% in Q3 2016 from +9%
in Q2 2016. This means that 17% more firms reported an increase over a
decrease. The balance of manufacturers reporting improved export orders also
rose, from +5% in Q2 to +12% in Q3. However, the services sector saw a
slowdown in growth in Q3, with the balance of firms reporting improvements
falling to +8% from +11% in the previous quarter. For advance export orders, the
balance fell for firms in the services sector, to +5% from +13%.
*Balance figures are determined by subtracting the percentage of companies reporting
decreases in a factor from the percentage of companies reporting increases.
Manufacturing
Export Sales
+17%
The adjacent graph
shows the balance of
firms reporting an
increase in export sales
compared to those
reporting a decrease
going back to Q1 2008.
The balance of
manufacturers reporting
increased export sales in
Q3 2016 rose from the
lowest post-recession
level in Q4 2015.
Source: British
Chambers of Commerce
Services
Export Sales
+8%
Overview
The Global Economy
The International Monetary Fund (IMF) has downgraded its
forecast for global growth for 2016 from 3.2% to 3.1% and
for 2017 from 3.5% to 3.4%.
The US economy, the world’s largest, grew at an annual rate
of 1.4% in Q2 2016, up from the growth of 0.8% recorded in
Q1. China’s economy, the world’s second-largest, grew by
6.7% in Q3 2016 in annual terms.
The Eurozone economy grew by 0.3% in Q2 2016, lower
than the growth of 0.5% recorded in Q1. The third official
estimate of UK economic growth revealed that the UK
economy grew by 0.7% in Q2 2016, up from the previous
estimate of 0.6%. Q2 GDP growth in annual terms was
revised down from 2.2% to 2.1%. The service sector and
consumer spending remain the main drivers of UK
economic growth.
International Trade
The World Trade Organisation (WTO) is currently expecting
world trade growth in 2016 of 1.7%, below their previous
forecast of 2.8%. The WTO currently expect world trade
growth of between 1.8% and 3.1% in 2017, down from their
previous forecast 3.6%.
The UK trade deficit widened from £10 billion in Q1 2016 to
£12.7 billion in Q2 2016. The widening deficit reflected a £1.8
billion widening of the trade in goods deficit and a £0.9
billion narrowing of the trade in services surplus.
Egypt’s Economy
Egypt has signed a staff-level agreement with the IMF over a
three-year Extended Fund Facility worth US$12 billion. Egypt’s
parliament is largely supportive of the policies introduced by
the president, Abdel Fattah El Sisi, which will ease
implementation of socially sensitive structural reforms such as
the gradual reduction of food & energy subsidies.
The recent decision by Egypt’s central bank to float the pound
and raise key interest rates will cause some short-term pain as
inflation rates rise - but is regarded as a necessary step
towards sustainable economic recovery, and generally
welcomed by the business communities in Egypt and
overseas.
Egypt’s Trade
Egypt's trade deficit dropped 3.1% in August compared to the
same month last year - reaching EGP 37.7 billion (US$ 2.1
billion) according to statistics body CAPMAS. Compared to
July, the trade deficit has increased by EGP 6.9 billion (US$ 0.4
billion).
Exports increased by 22.9% in August compared to last year,
to reach EGP 16.7 billion (US$ 0.9 billion). Fertilisers increased
by 87.9% and crude oil by 16.6%. Imports increased by 3.6% in
August compared to last year, to reach EGP54.4 billion (US$ 3
billion). The import value of petroleum products rose by 22%.
Egypt’s central bank floated the local currency early November
to alleviate foreign currency shortages in the market. This will
help boost Egypt’s exports according to Egypt’s Trade
Minister.
Imports
EGP 54.4bn
Exports
EGP 16.7bn
Deficit
EGP 37.7bn
Month of August 2016
World trade growth
+1.7% WTO 2016 forecast
Export Documentation Index
Many types of exports require supporting commercial documentation. Chambers of Commerce issue certified trade
documentation required for exports outside the EU and as a result have amassed a significant dataset around UK goods
exports. The Egyptian-British Chamber of Commerce does the same but solely for UK goods exports to Egypt. The data
collected from this process shows an index of trade document certification.
World There is a decrease in the volume of UK trade documents certified on the quarter. Taking 2007 as a base year at 100, the
index for Q3 2016 stands at 121.69. This represents a decrease of 4.1% compared to Q2 2016. Year on year, trade
documentation increased by 5.3% (see table below).
Source: British Chambers of Commerce
Egypt Because of new export documentation decrees issued by the Egyptian government in December 2015 and early 2016 –
making it mandatory for overseas exporting companies to submit certain export documents when shipping goods to
Egypt – the Chamber saw a significant increase in UK export documentation in the first quarter of 2016. In Q2 2016 the
volume of UK trade documents certified for export to Egypt restored to levels last seen in 2007. In Q3, we witness a slight
slowdown in growth. This can largely be attributed to the persistent lack of foreign currency in the Egyptian market.
Taking 2007 as a base year at 100, Q3 2016 performed slightly worse at 88.95, but significantly better compared to
previous years.
Prior to 2016, the economic recession, but in particular the turmoil following Egypt’s revolution in 2011 caused a serious
drop in volume of trade documents between the UK and Egypt. With stability returning to Egypt, we saw significant
growth in 2014 that carried on into the beginning of 2015. Growth slowed in the latter half of 2015, largely as a result of a
lack of foreign currency in the Egyptian market. Please note: The newly introduced trade decrees mentioned earlier create a
discrepancy between documentation levels in 2016 compared to 2015 (see table below). A new trend will emerge as we look
at export documentation levels going forward.
Percentage Change (%)
Q3 2016
(2007 = 100)
Q3 2016
compared to Q2 2016
Q3 2016
compared to Q3 2015
Volume index of export
documentation 88.95 -16.6% +47.6%
Trade Outlook 2014 proved an exceptionally strong export documentation year with rapid recovery particularly in the last six months of
the year; in our previous reports we estimated that this upward trend would level out – and indeed drop - towards the
end of 2015, but that the strong performance during the first six months of 2015 would ensure an export documentation
outcome similar to 2014. Export documentation increased by 2% in 2015. We expect a significant increase in export
documentation in 2016 as a result of the newly introduced decrees, as mentioned above.
The HM Revenue & Customs (HMRC) trade statistics show that trade is picking up gradually in 2016; but is somewhat
volatile. UK exports to Egypt continue to out-perform Egyptian exports to the UK in terms of growth percentage. Q1 2016
saw strong figures for UK exports to Egypt, with year-on-year growth reaching close to 14% - on par with Q3 2016. Q2
Percentage Change (%)
Q3 2016
(2007 = 100)
Q3 2016
compared to Q2 2016
Q3 2016
compared to Q3 2015
Volume index of export
documentation 121.69 -4.1% +5.3%
2016 under-performed with a year-on-year drop of 0.8%. Egyptian exports to the UK are on a path to recovery.
Compared to the same period a year before, exports dropped by close to 12% in Q1 2016, and by 5.4% in Q2 2016. In the
current quarter, Egypt’s exports to the UK record a marginal drop of 2.3% year on year.
The recovery in 2014 and the beginning of 2015 can mainly be attributed to a return of political stability and increased
confidence in Egypt’s economic recovery post-Revolution. However, reform momentum faded towards the end of 2015
and continues to hinder trade growth in 2016. While some of the bans on outflow of foreign currency were lifted earlier
in 2016, foreign exchange shortages still curb production – and consequently the export of Egyptian value added goods.
Continuing delays in economic reforms as well as a lack of tourism and foreign investment dampen growth in 2016.
However, we expect trade to rebound in 2017, provided that that the Central Bank of Egypt continues to ease restrictions
on the outflow of foreign currency. In a move that was anticipated for several weeks, Egypt floated the pound earlier this
month in an attempt to stabilize its economy and bring much needed liquidity into the market. While the weakening of
the pound will inevitably cause some short-term pain, it will help the country in the long run, and is a welcome sign for
foreign investors. The central bank will eventually be able to fully dismantle foreign exchange restrictions, thereby
reducing disruptions to trade. A weaker currency will also boost Egypt’s external competitiveness and encourage foreign
investors back to the country.
These measures should help place Egypt’s external position on a more sustainable footing, particularly if backed up by
further economic reforms. A second phase of economic reforms - tackling food subsidies -is planned; the reforms look to
distribute food subsidies based on monthly income by linking the automated wage system to citizens’ national
identification numbers.
The devaluation of the pound and reduction/restructuring of subsidies were key demands by the International Monetary
Fund in order for Egypt to receive a loan of $12 billion over three years. The IMF has yet to officially ratify the loan, but it
is seen as crucial in helping to stabilize the country's economy.
Egypt’s Economy
2012/13 2013/14 2014/15 2015/16
GDP (% growth) 2.1 2.2 4 3.8
Export (US$bn) 25 24 21 20
Import (US$bn) 59 58 60 57
Inflation (%) 6.9 10.1 10.3 15.75 (Oct)
Exchange Rate (per $) 6.98 7.13 7.61 17.95 (Nov)
Population (% growth) 2 2.5 2.1 2.1
Source: Central Bank of Egypt
Economic Outlook
Sectors to Watch
Egypt’s Economic Outlook Oct. 2016 – World Bank
Egypt’s nascent recovery faded in FY16, owing to the
foreign exchange crunch, a drop in tourism, and an
unfavourable external environment. The government seeks
to implement measures that will address the ongoing
macro-imbalances (especially in the external and fiscal
accounts), introduce structural reforms to improve the
business environment, and redirect resources towards
social programs. This would be supported by a 3- year
Extended-Fund Facility (for which a Staff-Level Agreement
was reached in August and is pending IMF Board
approval). The government aims to implement reforms on
three main fronts: (1) exchange rate liberalization; (2) fiscal
consolidation, and (3) structural reforms to boost growth
and reduce unemployment. The program also aims to
strengthen the social safety nets to better protect the poor
and vulnerable groups.
Egypt’s growth was 4.3 percent in 9M FY16, in line with
the previous year, and double the rate during FY11-14,
but still below potential. Real growth in Egypt continues
to be below potential and is constrained by shortages in
hard currency, and sluggish growth in Europe (Egypt’s
main trading partner), as well as the lower international oil
prices that adversely impacted the Gulf (primary source of
remittances).
Additionally, key sectors continued to post negative growth,
particularly oil and gas extractives and tourism.
GDP is expected to grow by 3.8 percent in FY16, slightly
lower than the 4.2 percent growth achieved in FY15, before
rebounding gradually thereafter. Growth in FY16 is expected
to be entirely driven by domestic demand as consumption
remains resilient and public investments crowd-in the private
sector. Net exports, on the other hand, continue to be a drag
on growth due to the shortages in hard currency and - until
recently - an overvalued real exchange rate. Over the medium
term, growth is expected to pick up as economic reforms
progress and key sectors recover. The fiscal deficit is expected
to narrow over the medium term, assuming the government
implements the envisaged fiscal consolidation measures. On
the external front, Egypt’s accounts are likely to worsen in FY16
due to the sharp decline in tourism and lower transfers before
recovering slowly afterwards, provided that the CBE continues
to ease restrictions on foreign exchange.
In a press release issued on 4 November, the World Bank said
it welcomes Egypt’s recent economic and social reform
measures including the floatation of the currency, measures to
boost investment especially in Upper Egypt, adjusting energy
prices to reflect market conditions, and strengthening the
social safety net.
Source: World Bank
Energy & Mining Healthcare Education Retail & Trade Transportation Urban Planning
& Logistics
UK Trade Statistics: MENA & Egypt In the years prior to 2008, Egypt recorded a 7% share of MENA (Middle East & North Africa) trade with the UK on
average. As a result of the Arab Spring - and subsequent political and economic turmoil over the past four years -
Egypt’s percentage share of MENA trade with the UK dropped significantly. In the second half of 2015 the gradual
recovery witnessed in Q3 and Q4 2014 slowed. While Egyptian exports to the UK are on a path to gradual recovery in
2016, UK exports to Egypt are somewhat volatile. Q1 and Q3 2016 showed strong growth, but Q2 lagged with a year-on-
year decrease of almost 1%.
Yet both perform better this year than the MENA region at large. Egypt’s share of MENA imports from the UK increases
from 5% in 2015 to 6.2% in 2016. Egypt’s share of MENA exports to the UK increases from 5.6% to 6.3% year on year.
UK Exports to MENA & Egypt UK Exports to the MENA region drop by 6.8% in Q3 2016 compared to the same period in 2015. Exports to Egypt
rebound after a 1% drop in Q2. Morocco shows the largest growth (+103%) compared to the same period last year. A
significant decrease is recorded in the UAE (-15%), Saudi Arabia (-14%) and Qatar (-7%).
Q1- Q3 2016 Q1-Q3 2015 % change
MENA £13,966bn £14,993bn -6.8
Egypt £861m £750m 14.7
% share of MENA 6.2 5
UK Exports to MENA % Share
Source: HM Revenue & Customs
32%
25%
12%
6%
6%
3%
5%
2%
9%
UAE
Saudi Arabia
Qatar
Israel
Egypt
Kuwait
Morocco
Oman
Others
UK Imports from MENA & Egypt UK Imports from the MENA region decline by 13% in Q3 2016 compared to the same period a year earlier. Egyptian
exports to the UK see a marginal drop of 2.3% year on year. With the exception of Morocco (+77%) and UAE (+25%),
most MENA countries record a drop in export to the UK for Q3 2016 compared to the same quarter a year earlier; i.e.
Algeria (-69%), Kuwait (-37%), Saudi Arabia (-26%) and Kuwait (-25%).
Q1-Q3 2016 Q1-Q3 2015 % change
MENA £8,242bn £9,475bn -13
Egypt £516m £529m -2.3
% of MENA 6.3 5.6
UK Imports from MENA % Share
Source: HM Revenue & Customs
20%
6%
23%
14%
10%
6%
10%
5%6%
Qatar
Algeria
UAE
Saudi Arabia
Israel
Egypt
Morocco
Kuwait
Others
UK Trade Statistics: MENA & Egypt – Product Breakdown
UK Exports to Egypt
UK exports to Egypt picked up again in the third quarter of 2016 after a strong first quarter and significantly weaker
second quarter.
Egypt’s Industrial Development
As part of Egypt’s government’s proposals to increase infrastructure investment - and its ambitious development plans –
imports in industrial machinery lead the way in driving import growth both medium- and long-term. The quick
completion of the Suez Canal Corridor after just one year of work, commitment to these infrastructure projects is
somewhat proven. Construction is also underway on Egypt’s new road network (over 4000km) for which transport
equipment is needed. It is a sector that is expected to contribute 10% of import growth in the decade to 2030 according
to HSBC’s latest brief on UK trade with Egypt.
German industrial company Siemens signed an €8bn deal with Egypt earlier this year to supply gas and wind power
plants, with the aim of boosting domestic electricity generation by 50%. Against this background, the industrial
machinery sector is expected to contribute 18% of import growth in the decade to 2030.
As the Central Bank of Egypt tightened its control on import products in an effort to limit the outflow of foreign currency,
certain UK export products experienced a decline in demand in the short-term. The recently introduced new trade
decrees (available to download on our website) further make the import of certain finished goods administratively more
complex. The export of prepared foodstuffs for example continues to drop in Q3 2016 by 24% year on year (Q2 2016 saw
a drop of 30% year on year). The central bank’s recent decision to float the pound should alleviate foreign exchange
shortages and reduce restrictions on outflow of foreign currency as well as on imports of finished goods.
UK Exports to Egypt (Q3 2016) – by major product groups
Source: HM Revenue & Customs
9%
12%
19%
14%
46%
Food & beverages
Raw materials, petroleum & petroleum products
Chemicals, pharmaceuticals & related products
Textiles & manufactured goods
Machinery & transport equipment
Rank Commodity 2016 2015 % Change
1. Machinery & Mechanical Appliances (16), of which: 316,309,366 243,690,248 29.8
Machinery & Mechanical Appliances 253,907,906 175,709,249 44.5
Of which: Turbojets 103,792,743 70,074,562 48.1
Electrical Machinery & Equipment 62,401,460 67,980,999 -8.2
2. Chemicals (6), of which: 141,324,001 122,321,881 15.5
Pharmaceutical Products 83,340,419 57,187,503 45.7
3. Base Metals & Articles of Base Metal (15) 116,174,662 71,315,426 62.9
4. Transport & Equipment (17) 56,574,960 91,461,243 -38.1
5. Plastics, Rubber and Articles Thereof (7) 42,897,293 60,653,391 -29.3
6. Vegetable Products (2), of which:
Fruit & Vegetables
41,503,200
40,558,311
34,260,997
32,905,293
21.1
23.3
7. Medical & Other Instruments and Parts (18) 34,904,813 29,737,275 17.4
8. Paper & Paperboard (10) 34,872,197 33,189,340 5.1
9. Mineral Products (5) 27,067,835 16,119,165 67.9
10. Prepared Foodstuffs (4) 12,544,428 16,473,178 -23.8
11. Precious Stones, Metals & Jewellery (14) 11,457,118 8,190,214 39.9
12. Live Animals & Animal Products (1) 8,845,155 6,381,079 38.6
13. Textiles & Textile Articles (11) 6,482,761 6,318,808 2.6
14. Miscellaneous Manufactured Articles (20) 5,068,280 5,192,432 -2.4
15. Building Materials (13) 2,099,087 2,129,878 -1.4
16. Art & Antiques (21) 1,081,159 386,267 179.9
17. Leather, Hides & Skins (8) 469,891 514,782 -8.7
18. Fashion Accessories (12) 353,284 1,122,969 -68.5
19. Wood and Articles Thereof (9) 329,647 70,838 365.4
20. Animal or Vegetable Fats & Oils (3) 210,547 349,923 -39.8
21. Arms & ammunitions (19) 27,991 14,256 96.3
22. Other (22) 58,971 183,092 -67.8
Total 860,656,646 750,076,682 14.7 All figures are in £ thousand Source: HM Revenue & Customs
Full product index on page 13
Egyptian Exports to the UK
Egypt’s exports to the UK are down by 2.3% this quarter compared to Q3 2015. While still down on the year, Egyptian
exports are recovering and we no longer see the average 20% decrease year on year that we witnessed last year .
Oil Consumption vs Export
One of the major factors in Egypt’s evolving energy sector has been the rise in consumption, which in turn has put
pressure on the status of the country as a net exporter. Egypt has gone from an importer to an exporter and back for a
number of years. It bought more oil and related products than it sold in 2007 and then again starting in 2012. In 2015
Egypt’s Ministry of Planning reported that 28.6m tonnes of crude oil, liquefied natural gas (LNG), natural gas and other
oil related products are estimated to be imported to Egypt in the 2015/16 fiscal year, at a total cost of $16bn. In terms of
natural gas, it has been a net exporter until very recently.
The surpluses in recent years were the result of increased production in the Western Desert and in offshore areas, but the
productivity of these finds has been falling and the assets cannot produce as much as before without major investments
in enhanced recovery techniques. Egypt’s refining output declined by 28% from 2009 to 2013. In 2013 Egypt’s refined
petroleum output stood at 445,000 bpd, which indicates that refinery utilisation was at 63%.
The drop in the price of oil, to a low of $36.05 in December 2015 for Brent, has affected Egypt’s energy outlook. While on
the one hand it has reduced the costs of the subsidy that needs to be paid, and freed up resources as a result, it also has
the potential to reduce investment in the sector, especially investment in more difficult areas or in finds that require
advanced technology. (source: Oxford Business Group)
R&D Key Driver behind Growth of Chemicals Sector
A projected leading sector in the Egyptian export recovery will be chemicals, with growth expected to average 9% per
year in 2016-2020. Demand is largely driven by the development of chemicals used in agriculture and fast moving
consumer goods. The agriculture sector currently carries out R&D to reclaim land from the desert and prepare it for
cultivation; a key government priority.
Representative of Egypt’s gradual move up the value chain, mineral manufacturers, chemicals and plastics will be some of
the largest contributors to export growth in the long-term. Research further shows that the animal products sector is one
to watch, accounting for 12% of total export growth in the 10 years to 2030.
0
200
400
600
800
1000
2013 2014 2015 Q3 2016 (6 Months)
Egypt's Crude Oil Exports to the UK in £m
Crude Oil Exports Other Exports
Egyptian Exports to the UK (Q3 2016) – by major product groups
Rank Commodity 2016 2015 % Change
1. Machinery & Mechanical Appliances (16) 157,470,259 176,223,761 -10.6
Machinery & Mechanical Appliances 30,333,156 69,105,574 -56.1
Of which: Turbojets 25,773,352 64,489,432 -60
Electrical Machinery & Equipment 127,137,103 107,118,187 18.7
Of which: Insulated Wire, Cable and Other
Insulated Electric Conductors
103,154,352 100,157,785 3
2. Vegetable Products (2), of which: 108,154,305 92,821,051 16.5
Fruit & Vegetables 103,118,655 86,850,402 18.7
3. Textiles & Textile Articles (11) 81,118,303 94,773,877 -14.4
4. Mineral Products (5), of which: 48,629,376 58,296,844 -16.6
Crude Oil 48,206,381 57,982,351 -16.9
5. Plastics, Rubber and Articles Thereof (7) 19,282,955 21,511,970 -10.4
6. Chemicals (6) 18,784,053 21,903,861 -14.2
7. Building Materials (13) 16,513,663 18,821,208 -12.3
8. Transport & Equipment (17) 16,262,576 4,275,845 280.3
9. Paper & Paperboard (10) 15,198,045 11,330,602 34.1
10. Medical & Other Instruments and Parts (18) 13,618,476 8,647,517 57.5
11. Precious Stones, Metals & Jewellery (14) 6,908,248 5,949,458 16.1
12. Base Metals (15) 6,468,133 5,571,652 16.1
13. Prepared foodstuffs (4) 2,997,425 1,194,468 150.9
14. Art & Antiques (21) 932,909 769,109 21.3
15. Miscellaneous Manufactured Items (20) 921,752 2,183,383 -57.8
16. Fashion Accessories (12) 916,095 2,306,464 -60.3
17. Animal or Vegetable Fats & Oils (3) 670,734 277,444 141.8
26%
11%
5%23%
35%
Agricultural products, food & beverages
Raw materials, petroleum & petroleum products
Chemicals, pharmaceuticals & related products
Textiles & other manufactured goods
Electrical appliances, power generators, transport and other
machinery
18. Wood and Articles Thereof (9) 526,234 772,739 -31.9
19. Leather, Hides & Skins (8) 91,661 190,250 -51.8
20. Live Animals & Animal Products (1) 15,646 18,087 -13.5
21. Other (22) 985,245 992,054 -0.7
Total 516,466,093 528,831,644 -2.3 All figures are in £ thousand Source: HM Revenue & Customs
Full product index on page 13
Long-Term Outlook
In our previous Quarterly International Trade Report we mentioned the need for more flexibility in Egypt’s exchange rate
regime to increase the availability of foreign currency, attract investors, support exports and strengthen competitiveness.
The Chamber therefore welcomes recent initiatives by the government to float the pound, as well as further supportive
economic reforms. The package of reforms announced by the government look to help create jobs and revitalize the
economy. They aim to boost the competitiveness of Egyptian businesses, support export growth, attract new foreign
investment, free public resources for priority growth and social programs, and support incomes for the poor and the
vulnerable.
Research shows that -while facing short- and medium term challenges - Egypt’s long-term trade outlook is largely
positive. Egypt’s development plans are ambitious, yet the country is serious in its efforts to kick-start and complete new
projects that drive economic growth.
Full Product Index
1. Live animals; animal products
2. Vegetable products
3. Animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes
4. Prepared foodstuffs; beverages, spirits and vinegar; tobacco and manufactured tobacco substitutes
5. Mineral products
6. Products of the chemical or allied industries
7. Plastics and articles thereof; rubber and articles thereof
8. Raw hides and skins, leather, furskins and articles thereof; saddlery and harness; travel goods, handbags and
similar containers; articles of animal gut (other than silkworm gut)
9. Wood and articles of wood; wood charcoal; cork and articles of cork; manufactures of straw, of esparto or of
other plaiting materials; basket-ware and wickerwork
10. Pulp of wood or of other fibrous cellulosic material; recovered (waste and scrap) paper or paperboard; paper
and paperboard and articles thereof
11. Textiles and textile articles
12. Footwear, headgear, umbrellas, sun umbrellas, walking-sticks, seat-sticks, whips, riding-crops and parts thereof;
prepared feathers and articles made therewith; artificial flowers; articles of human hair
13. Articles of stone, plaster, cement, asbestos, mica or similar materials; ceramic products; glass and glassware
14. Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal
and articles thereof; imitation jewellery; coins
15. Base metals and articles of base metal
16. Machinery and mechanical appliances; electrical equipment; parts thereof, sound recorders and reproducers,
television image and sound recorders and reproducers, and parts and accessories of such articles
17. Vehicles, aircraft, vessels and associated transport equipment
18. Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and
apparatus; clocks and watches; musical instruments; parts and accessories thereof
19. Arms and ammunition; parts and accessories thereof
20. Miscellaneous manufactured articles
21. Works of art, collectors' pieces and antiques
22. Others © The Egyptian-British Chamber of Commerce
2nd Floor T. 020 7499 3100
24 New Broadway [email protected]
W5 2XA London www.theebcc.com