Wed, 01 Sep 2021 - 01:06 GMT
Food market- Photo courtesy of IFAD Facebook page
CAIRO – 1 September 2021: Exports of food industries sector increased 14 percent during the first seven months of 2021, gaining $297 million to reach $2.384 billion, compared to $2.086 billion during the same period of 2020, according to the Export Council for Food Industries.
The Council indicated in a statement that the exports of March 2021 are the highest value of exports for the period from January to July of 2021, with a value of $384 million.
Exports during May amounted to $355 million, achieving the highest growth rate in value during the same period by 47 percent increase on an annual basis, and July 2021 exports amounted to about $287 million, with a growth rate of 8 percent.
It added that exports to "Arab countries" topped the list of the most important international groups importing Egyptian processed foods during the period from "January to July" of 2021 at a value of $1,268 billion, representing 53 percent of the total food exports, achieving a growth rate of 10 percent and a growth value of 120 million.
The "European Union came second with a value of $391 million, recording a growth rate of 31 percent and representing 16 percent of the total exports, then "non-Arab African countries" with a value of $224 million, representing 9 percent of the total exports and a decrease in the value of exports amounting to 2 percent, followed by "the United States of America" with a value of $129 million, representing 5 percent of the total exports, achieving a growth rate of 25 percent.
The rest of the international groups came with a value of $372 million, which represents 14 percent of the total Egyptian food exports during the same period.
As for the world's most important importers of food industries during the period from January to July 2021, the Kingdom of Saudi Arabia ranked first, with exports worth $177 million, marking a decrease of 9 percent, followed by "the United States of America" with a value of $129 million and a growth rate of 25 percent, then "Libya" with $116 million and a growth rate of 5 percent, then "Sudan" with $112 million and a growth rate of 148 percent.