In the January-September period of this year, the value of Egypt’s iron and steel exports rose by 65.0 percent to $1.74 billion from $1.05 billion recorded in the same period of 2022, according to the data released by the Export Council for Building Materials, Refractory and Metallurgy Industries.
In the given period, Spain ranked in first place in importing iron from Egypt, with exports amounting to $312.521 million, growing by 37.0 percent year on year, while the country’s steel exports to Turkey, which ranked in second place, came to $251.288 million, up from $12.394 million.
In addition, exports to the US, Romania and Palestine in the first nine months of the year rose to $177.7 million, $139.15 million and $39.88 million, respectively.
According to the report, since the beginning of this year the country’s steel production has faced challenges due to a shortage of foreign currency and a decline in domestic demand.