Egypt’s Exports to Africa Rise 13 Percent in 10 MonthsSource: www.export-egypt.com 12/18/2023, Location: Africa |
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Egypt’s exports to Africa surged 13 percent year-on-year (YoY) to $6 billion between January and October, Minister of Trade and Industry Ahmed Samir stated.
Top Egyptian exports to Africa were marble, cement, polyethene, and phosphate fertilizers, Samir added during a meeting with Prime Minister Mostafa Madbouly. The recent figures superseded expectations by the Egyptian Chamber of Chemical Industries at the Federation Of Egyptian Industries (FEI), which estimated exports to Africa to $5.5 billion. In June, the volume of trade exchange between Egypt and the Common Market for Eastern and Southern Africa (COMESA) countries reached $4.3 billion in 2022, President El-Sisi revealed in June. Egypt’s trade deficit declined by 23.59 percent during the fiscal year 2022/2023, primarily due to a significant decline in non-oil imports. |
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