Egyptian Merchandise Exports Reach Record Highs in First 5 Months of 2024
The Ministry of Trade and Industry in Egypt announced that exports of Egyptian merchandise have reached their highest rate during the first 5 months of this year, recording $16.5 billion, an increase of 9.8%. Engineer Ahmed Samir, Minister of Trade and Industry, confirmed that this is the first time that Egyptian exports have reached such large rates during the first 5 months of the year.
According to a report from the General Authority for Export and Import Control on Egyptian commodity export indicators during the first 5 months of this year, 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, an increase of 9.8%. The largest receiving markets for Egyptian merchandise exports included Saudi Arabia with $1.301 billion, Turkey with $1.310 billion, United Arab Emirates with about $1.133 billion, Italy with $974 million and United States worth $904 million.
Engineer Ahmed Samir explained that building materials were worth $3.869 billion, food industries worth $2.644 billion, chemical products and fertilizers worth $2.491 billion and agricultural crops worth $2.369 billion were among the most important sectors forming the structure of Egyptian merchandise exports during this period while engineering and electronic goods were worth about $2.181 billion and ready-made clothing was valued at around one billion dollars each respectively
