Egypt's exports rise by 23% year-on-year in first 10 months of 2022: CAPMAS

Newspaper Title: english.ahram.org.eg

Newspaper Number:

Saturday - 14 January 2023

Egyptian exports reached $34.7 billion during the same period of 2021, CAPMAS reported, adding that the increase amounted to $8.1 billion.

The top ten importers included Spain and Turkey with commodities worth $3.1 billion each, followed by Italy with $2.8 billion and the US with $2 billion. Saudi Arabia came in fifth place with imports worth $2 billion.

Netherlands came sixth with imports worth $1.7 billion, followed by South Korea, France, and China with imports worth $1.6 billion, $1.95 billion, and $1.6 billion, respectively.

Finally, the UAE came in tenth, importing Egyptian commodities worth $1.5 billion, according to CAPMAS.

The top 10 commodities that Egypt exported during the period included liquefied natural gas (LNG), at a total value of $7.9 billion, fertilisers ($2.7 billion), crude oil ($2.6 billion) and petroleum products ($2.6 billion).

It also included ready-made garments ($2.1 billion), plastics ($1.6 billion), fresh fruits ($1.4 billion), various doughs and prepared foods ($818.1 million), potatoes ($370.6 million) and carpets and hand-woven kilim rugs ($342.7 million).

Egypt intends to reach $100 billion in annual exports by 2025.

Last year, Egypt embarked on a plan to cut imports and increase exports by localising manufacturing in nine investment sectors, including wood and furniture, chemicals, and textiles.