exports
Turkey, Saudi Arabia, the United Arab Emirates, Italy, and the United States were the top destinations for Egyptian commodity exports.
The union aims to bring the exports to new record levels, after the food industries sector succeeded last year in achieving $5.1 billion during the year 2023.
The data from CAPMAS revealed that the value of exports experienced a decline of 15.6 percent during January 2024, amounting to $3.46 billion, compared to $4.10 billion in January 2023.
The primary objective of this program is to stimulate the growth of Egypt's exports, boost production levels, and generate more employment opportunities.
IDSC's data revealed that China emerged as Egypt's most significant trading partner, with a trade exchange volume of $3.4 billion during Q4 of 2023.
Samir added that Egypt plans to increase industrial production by 20 percent, enhance the green economy's contribution to the gross domestic product to a minimum of 5 percent, and provide number of job openings, targeting 7 to 8 million opportunities.
Data from the Foreign Trade Bulletin for last December showed the development of the list of goods whose exports increased during that period, compared to the same month of last year 2022.
During December 2023, the value of Egypt's exports declined by 23.0 percent, to record $3.48 billion, in contrast to $4.52 billion in the same month of 2022.
This phase aims to settle the overdue obligations of export burdens for exporting companies, covering export files at the Export Development Fund until those loaded until June 30, 2023, that are fulfilled by the end of September 2023, with an amount not exceeding LE 8 billion.
The Egyptian Minister of Petroleum, Tarek El-Molla, witnessed the signing of the agreement along with Saeed Mohammed Al Tayer, Chairman of the Board of Directors of Dragon Oil Company,
The memorandum of understanding relates to the logistical supply for real estate development projects in the Kingdom of Saudi Arabia, which the consortium will implement in the Kingdom and elsewhere.
This initiative is in collaboration with the Ministry of Trade and Industry, and the Ministry of Agriculture and Land Reclamation.
Samir noted that the Egyptian commodity exports to Turkey saw a significant increase, reaching $2.934 billion compared to about $2.288 billion during the same period in 2022, reflecting a 28 percent increase.
This marked the highest value achieved in the history of engineering exports, surpassing the $3.841 billion recorded in 2022, according to the statement
She added Thursday that the company achieved exports totaling around $1.5 billion in 2023, and it is expected that the company's exports will reach $1.75 billion by the end of 2024.
In a televised statement concluding his tour of the SCZone in Ain Sokhna, Madbouly highlighted its transformation into a trade hub with a focus on local industry
Egypt, along with 47 countries, has ratified the agreement, explained Al-Wathiq Billah. He expected the rest of the countries to ratify the trade agreement by the second half of 2024
The total size of trade exchange between Egypt and other African countries recorded during that period $2.117 billion.
Minister of Agriculture and Land Reclamation, El Sayed El Qusair, announced the addition of over 3.5 million feddans of agricultural land through desert reclamation.
The Egyptian exports of processed food recorded $4.7 billion in January-November 2023 achieving growth of 15 percent ($628 million).
