Egypt's non-oil exports have seen significant growth in 2024, with the total value of exports during the first ten months of the year estimated at approximately $33.35 billion, according to Essam El-Naggar, the head of the General Organization for Export and Import Control (GOEIC).

In an interview on Tuesday, El-Naggar revealed that Egypt's non-oil exports grew by 12.2% by the end of October, expressing optimism about maintaining this positive growth trend through the end of the year.

By the end of September, non-oil exports reached $29.713 billion.

In 2023, non-oil exports saw a slight increase, reaching $35.6 billion. Looking ahead, the government has set an ambitious target to boost export revenues to $145 billion by 2030, as part of the Egyptian industrial strategy.

In support of this goal, the Egyptian government has allocated EGP 23 billion to a new export support program.

This funding has been distributed across various sectors, with EGP 4 billion designated to support exporters in the textile sector, EGP 3.16 billion to exporters of chemicals and fertilizers, while EGP 3.65 billion will be allocated for agricultural exports.

The food industries will receive EGP 3.89 billion in support, EGP 3.13 billion are earmarked for engineering industries and the automotive sector, and EGP 1.11 billion will be directed toward supporting building materials industries. Smaller support packages have also been allocated to other sectors.

On Tuesday, Minister of Investment and Foreign Trade, Hassan El-Khatib, highlighted that Egypt’s food industry exports reached $4.6 billion by the end of September 2024, marking an 18% growth compared to $3.9 billion during the same period in 2023.

El-Khatib also emphasized the importance of increasing agricultural exports to African markets, which currently represent only 2% of Egypt’s total agricultural exports.

Egypt’s chemical and fertilizer exports had grown by 5% in the first nine months of 2024, reaching a total of $6.5 billion, according to Khaled Abul-Makarem, the Chairman of the Chemicals and Fertilizers Export Council.