According to data from the Turkish Exporters' Assembly, Turkish exports’ value to the Egyptian market amounted to $872 million in the first quarter of this year
Egypt ranked first in the list of countries importing Turkish products from Africa. According to data from the Turkish Exporters' Assembly, Turkish exports’ value to the Egyptian market amounted to $872 million in the first quarter of this year. This marks an increase of 28% year-on-year.
According to the assembly’s data, Turkey's exports to African countries increased by 1.8% in the first quarter of this year, compared to the same period last year, to reach $4.5 billion. Turkish exports to Egypt increased by 52.2%, compared to the same period last year.
Earlier today, Egypt's Minister of Trade and Industry, Engineer Ahmed Samir, announced significant developments in the country's export sector, reporting a notable 5.3% increase in commodity exports during the first quarter of 2024. The surge saw Egypt's exports climb to $9.612 billion, marking a substantial rise from the $9.129 billion recorded during the corresponding period in 2023.
Among the top destinations for Egyptian exports in Q1 2024, Turkey emerged as a significant player, with trade valued at $874 million.
There is a shared commitment between both countries to elevate the trade exchange to $15 billion in the coming years, increase joint investments, and explore new avenues of cooperation.
In February 2024, President El Sisi stated that Egypt is currently Turkey's first trading partner in Africa, and Turkey is one of the most important destinations for Egyptian exports. This came during Turkish President Tayyip Erdogan's first visit to Egypt since 2012 to meet President Abdel Fattah El Sisi, which marked a big step toward reviving relations between both countries.
