TradeMin Samir pointed out that these positive indicators reflect the ability of Egyptian exporting sectors to deal with the ongoing global and economic challenges
Egypt’s non-oil exports climbed by 11% in the January – November period last year, reaching $32.57 billion with expectations that numbers will climb to $35 billion by the end of December, revealed Minister of Trade and Industry, Ahmed Samir, last week.
The 11-month period saw an increase of 10.22% compared to 29.4 billion during the same period in 2021, the minister added.
The General Organization for Export and Import Control’s latest data noted a 12% climb during the first 10 months of 2022 for export value to reach $30.4 billion.
Samir pointed out that these positive indicators reflect the ability of Egyptian exporting sectors to deal with the ongoing global and economic challenges resulting from the Russian/Ukrainian conflict and the pandemic.
According to Samir, the Ministry of Trade aims to raise the export volume to different international and regional markets to benefit from the preferential free trade agreements network which was recently signed as part of the framework of Egypt’s goal to increase its exports to $100 billion annually.
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Egypt concluded the fifth phase of its export subsidy program in late December, part of its efforts to support the exporter community, disbursing a total of EGP 2.5 billion to 584 exporters. The Export Development Fund has distributed EGP 42.5 billion in overdue fees to over 2.5k exporters through the program since 2019.
