Egypt’s exports reach all-time high of $32.1 bln in 2021

Doaa A.Moneim , Wednesday 19 Jan 2022

Egypt’s non-oil exports reached an all-time high of $32.1 billion in 2021, up from the $25.4 billion recorded in 2020 — an increase of 26 percent — according to an announcement made by Minister of Trade and Industry Nevine Gamea on Wednesday.

exports

This significant rise was fuelled by the increase in global demand for Egyptian projects on the back of the great support the Egyptian government gave to production and export sectors amid the ongoing pandemic, according to Gamea.

The minister also pointed out that the cash repayment of exporter’s arrears has contributed to the significant leap in Egypt’s total exports.

“The state implemented several measures that resulted in attaining this record level of exports, including the reformation of the High Council of Exports under the chairmanship of Egypt’s President Abdel-Fattah El-Sisi as well as the reformation of export councils in all sectors, along with the trade agreements Egypt signed with various countries and global economic clusters,” said Gamea.

According to the trade ministry’s figures, the European Union topped the markets that received Egyptian exports in 2021 with a total value of $9.1 billion, increasing by 56 percent compared to 2020, when Egyptian exports there recorded $5.8 billion.

The US placed second with a total value of $2.4 billion in exports, increasing by 51 percent compared to 2020, according to the minister

The ministry’s data also showed that Egyptian exports to African countries — excluding Arab ones — also rose to $1.8 billion, up from $1.4 billion in 2020; an increase of 28 percent.

Furthermore, 13 export sectors attained a tangible increase in 2021, including leather and shoes exports (increased by 64 percent), printing and paper (increased by 52 percent), engineering and electronic products (rose by 46 percent), chemicals and fertilisers (went up by 45 percent), and ready-made garments (edged up by 39 percent).

During 2021, President El-Sisi instructed the government to draft a plan that aims to increase Egypt’s exports to hit $100 billion per year, in parallel with another plan to sett 100 incentives for the industrial sector to improve the competitiveness of Egyptian products.

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