CAIRO — The disclosure of the reasons behind the decline in non-petroleum Egyptian exports during the first five months of 2015 by 20% compared to the same period in 2014 is not only dependent upon official statements. Egyptian newspaper El-Watan News quoted Minister of Trade, Industry and Small Industries Mounir Fakhry Abdel Nour on May 2 as saying, “The decline in Egyptian exports is linked to security problems and the fluctuating political situation in the Arab countries.”
Yasser Jaber, spokesman for the ministry, told Al-Monitor that there is a global trade recession, and the relative deterioration in the Gulf Cooperation Council economy, following the fall of world oil prices, has caused them to reduce their imports of Egyptian products.
