The minister attributed the stability to the decline in fertilizer prices globally. Egypt aims to achieve a growth rate ranging between 18% and 20% in 2024, Samir added
The total value of Egypt's merchandise exports stabilized at $35.3 billion in 2023, which is almost the same as the previous year, according to the Egyptian Minister of Trade and Industry Ahmed Samir.
The minister attributed the stability to the decline in fertilizer prices globally. Egypt aims to achieve a growth rate ranging between 18% and 20% in 2024, Samir added.
Egypt's merchandise exports witnessed a decline of about 26% in 2022 compared to the previous year, supported by the rise in fertilizer prices following the Russian-Ukrainian war.
Recently, Samir announced that Egypt has an annual output of 92 million tons of cement, solidifying its position among the top 10 cement producers globally, providing essential support for the country's industrial landscape.
Samir underscored the pivotal role of Egypt's cement sector as a pillar for the nation's infrastructure and urban development projects, as well as the industrial sector’s role as a key player in Egypt's recovery, addressing global and regional economic challenges.
