Egypt’s exports of building materials, refractories, metal industries, and construction increased by 26%, to reach $8.8 billion during the period from January to December 2023 compared to $6 billion the same period in 2022, according to a report by Export Council Building Materials (ECBM).

According to ECBM, iron and steel exports recorded $2.3 billion in 2023, compared to $1.4 billion in 2022, in an increase of 65%.

Additionally, cement exports recorded an increase of 14%, to reach $770 million, compared to $678 million in 2022.

Ceramic exports also recorded a 30% decline to reach $131 million, compared to $188 million in 2022.

Recently, Trade and Industry Minister, Ahmed Samir disclosed that Egypt is set to implement a new strategy with the aim of increasing its annual exports to global markets, reaching a target of $100 billion annually.

In February, the Central Agency for Public Mobilization and Statistics (CAPMAS) reported that the value of Egypt’s trade deficit reaches $3.07 billion in November 2023, in a 5 % increase compared to $2.92 billion in the same month of 2022.

CAPMAS also showed that Egypt’s exports decreased by 20.6%, reaching $3.21 billion during November 2023 compared to $4.04 billion during the same month of the previous year.