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Chemical industries' exports hike to $5.4B in 2019

Tue, Mar. 10, 2020
CAIRO – 10 March 2020: "Chemical industries' exports increased by more than 9 percent in 2019 to reach $5.4 billion, which represents about 22 percent of the total structure of the Egyptian exports," Chairman of the Export Council for Chemical Industries and Fertilizers Khaled Abul Makarem announced.

Abul Makarem explained that the exports of the plastic sector amounts to about $1.8 billion annually, clarifying that the plastic industry is one of the most important industries in Egypt. Some 7,000 official factories are registered in the Federation of Egyptian Industries, representing about 40 percent of the industry in Egypt.

He forecast that the chemical industries exports will increase in 2020 by no less than 15 percent. Abul Makarem indicated that this increase is being targeted with a focused and clear strategic plan to gain access to new markets.

During the first half of 2019, Egypt’s exports of chemicals decreased 10 percent on a year-on-year basis to $2.4 billion, due to the delay of export subsidies and the low participation of companies in international exhibitions.


 
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