Record Highs in Egyptian Merchandise Exports: $16.5 Billion Reached in First 5 Months of 2024

Egyptian Merchandise Exports Reach Record Highs

The Ministry of Trade and Industry in Egypt announced that the country’s merchandise exports achieved their highest rate during the first 5 months of this year, recording $16.5 billion, an increase of 9.8%. This marks the first time that Egyptian exports have reached such large rates during the first 5 months of a year.

According to a report received by Engineer Ahmed Samir, Minister of Trade and Industry, merchandise exports rose for the fifth month in a row, reaching $16.551 billion during the first five months of this year, compared to $15.74 billion during the same period of 2023, a difference of $1.477 billion. This represents an increase of 9.8%.

The Minister explained that the Ministry aims to increase Egyptian commodity exports to various regional and global markets in order to contribute to increasing the quality and competitiveness of Egyptian products in the market. The most important export sectors included building materials, food industries, chemical products and fertilizers, and agricultural crops.

The most prominent export items that achieved an increase in the structure of Egyptian commodity exports during the period from January to May 2024 included fresh and dried citrus fruits, wires, and manufactured petroleum oils. The tangible increase in exports is due to the opening of a large number of factories during the last period, especially in the engineering industries sector.