Egypt Records Trade Surplus Of $2.35b – African News – African News Network | Latest African News | Nigerian News | Breaking News
Connect with us

African News

Egypt Records Trade Surplus Of $2.35b

Published

on

Egypt Records Trade Surplus Of $2.35b

The soaring export of North African country, Egypt, has triggered a trade surplus exceeding $2.35 billion with 19 countries, including 14 Arab and five foreign countries, from January to May 2018.

Trade surplus is the amount by which the value of a country’s exports exceeds the cost of its imports.

The Arab Countries included the United Arab Emirates, Jordan, Syria, Libya, Mauritania, Yemen, Sudan, Somali, Palestine, Tunisia, Algeria, Djibouti, Lebanon and Morocco.

READ:  At Least 6 Killed In Niger Republic Attack

On the other hand, the foreign countries are Cyprus, Slovenia, Israel, Kenya and Ethiopia.

The United Arab Emirates ranked the first in the list with a trade surplus of $848 million, as exports reached $1.2 billion, compared to imports of $362.03 million.

Jordan came in second place, with an amount of $209.3 million, in which exports recorded $294.9 million and imports hit $85.58 million.

Egypt’s exports to Syria reached $120.64 million, while imports recorded $35.5 million, marking a trade surplus of $85.13 million.

READ:  South African Peacekeepers Ambushed In Congo Ebola Zone

Trade surplus with Tunisia hit $117.95 million with exports of $202.54 million and imports of $84.59 million.

Palestine and Egypt recorded a trade surplus of $49.67 million as Egypt exported to it by $50.15 million and it imported by $481,000.

As per Cyprus, Egypt received imports from it worth $21.97 million, while exporting to it by $39.56 million, with a trade surplus of $17.58 million.

READ:  Egypt Reveals Details Of Skeletons Found Inside Sarcophagus

Egypt exports to Kenya are worth $143 million, compared to imports of $123.751 million, with a trade surplus of $19.261 million.

In general, Egypt’s exports reached $12.4 billion during the first five months of 2018; the Arab countries allocated $4.2 billion of it.

Egypt with a population of 95.69 million links northeast Africa with the Middle East.

African News

Proposal For UN To Study Climate Technologies Rejected

Published

on

By

Proposal For UN To Study Climate Technologies Rejected

A push to launch a high-level study of potentially risky technological fixes to curb climate change was abandoned at a UN Environmental conference in Nairobi late last week.  Countries, including the United states, had raised objections.

Switzerland’s Environmental Ambassador Franz Xavier Perrez, said that was a huge disappointment.  His country had proposed the UN assessment with the backing of eleven other governments.

READ:  Sudan Protests Resume For 4th Day Over Prices, Shortages

“Geo-engineering” technologies are gaining prominence, and they aim to pull carbon out of the atmosphere, or block some of the Sun’s warmth to cool the earth.

READ:  CBN Steps Up Distribution Of Lower Denominations

Supporters say these technologies could help fend off some of the worst impact of runaway climate change, including worsening storms and heatwaves.  Opponents, on the other hand, argue the emerging technologies pose huge potential risks to people and nature and could undermine efforts to reduce greenhouse gas emissions.

READ:  Egypt Security Forces Kills 10 Militants

Continue Reading

African News

Tanzania: Stiegler’s Gorge Hydro-Electric Project To Produce Thousands Of Jobs

Published

on

By

Tanzania: Stiegler’s Gorge Hydro-Electric Project To Produce Thousands Of Jobs

Tanzanian government is optimistic that the implementation of Stiegler’s Gorge hydro-electric power station would produce thousands of jobs.  It is also expected to generate more than two thousand mega-watts.

Energy Minister, Dr. Medard Kalemani, told the parliamentary committee on energy and minerals that five thousand Tanzanians would be employed as temporary workers, and four hundred others would be employed under permanent contracts.

READ:  Egypt's Salah Ed-Din Citadel Decorated To Celebrate China's Xiaonian Festival

Kalemani said the implementation of the project would not only uplift the livelihoods of Mloka villagers in Rufiji district in cost region, and of Kisaki villagers in Morogoro region, it would also enable the supply of electricity to 37 villages in Kibiti and Chalinze.  He said twelve villages will be connected to electricity under Tanzania Rural Energy Agency program.

READ:  Egypt Reveals Details Of Skeletons Found Inside Sarcophagus

Continue Reading

African News

African Court Doubles Its Judicial Productivity

Published

on

By

African Court Doubles Its Judicial Productivity

President of the African Court on Human and People’s Rights, Justice Sylvain Ore, has said the pan African organ, based in Arusha, has doubled its judicial productivity, and is optimistic it will even do better this year.

Commenting on the on-going reforms at the African Union, initiated under the guidance of the immediate past chairperson, President Paul Kagame of Rwanda, Justice Ore wanted the court to be a model for internal reforms and an efficiency icon for the rest of the institutions and citizens of the continent.

READ:  11 Fulani Civilians Killed In Mali

The African court was established by the African Charter and began operations in two thousand six in Addis Ababa.  It moved to its permanent seat in Arusha a year later.  It has finalized 48 cases with a hundred thirty-five cases pending.

READ:  Egypt Beats South Africa To Host 2019 AFCON

So far, 30 countries have ratified the protocol establishing the court, but only nine countries—Benin, Burkina Faso, Ivory Coast, the Gambia, Ghana, Malawi, Tunisia, and hosts Tanzania—have made the declaration to allow individuals and NGOs to access the court directly.

READ:  Denmark Cuts Aid To Tanzania Over Gay Rights

Continue Reading

Trending

Subscribe to ANN News Alert

Be the first to receive the latest news from Africa and around the world.

%d bloggers like this: