Egypt’s merchandise exports have been on the rise for four consecutive months, with a value of $12.91 billion in the first four months of this year, showing a 10% increase from the same period last year when exports were at $11.78 billion. The Ministry of Trade and Industry aims to boost exports of all productive sectors to global markets in the upcoming period, as per a report from the General Authority for Supervision of Trade and Industry.
The government’s goal is to enhance the quality and competitiveness of Egyptian products in both local and global markets, eventually reaching an annual export value of about $100 billion. The most significant receiving markets for Egyptian commodity exports include the UAE, Saudi Arabia, Turkey, Italy, and the United States of America. Noteworthy sectors contributing to the export structure are building materials, food industries, chemical products, agricultural crops, engineering and electronic goods, and ready-made clothing.
Egyptian agricultural exports reached $8.8 billion in 2023, making it clear that agriculture is one of Egypt’s most promising sectors for foreign market penetration. Egypt ranks first in the world for frozen oranges and strawberries. There has been a continual effort to penetrate new markets and export more than 400 agricultural products to over 160 countries globally. The food industry sector is recognized as promising due to Egypt’s significant potential in agro-industry.
Recently, a meeting attended by Prime Minister Dr. Mostafa Madbouly discussed strategies to increase Egyptian exports, particularly in the food industry. Minister Samir highlighted the exponential growth in food industry exports during the first four months of the year. The Export Council for Food Industries shared its vision and goals for increasing exports in the coming years, focusing on quality development, volume increase, and reducing the import bill. Challenges facing the industry were addressed, and solutions were proposed to facilitate the export process and boost international competitiveness.
In conclusion, Egypt’s merchandise exports have been steadily increasing over time with a value of $12.91 billion in just four months this year alone showing an impressive 10% increase from last year when it was at $11.78 billion
