Egypt's Exports of Medical, Cosmetics Grew by 45% in 2022

Dr. Maged George, Chairman of the Export Council for Medical Industries, revealed that Egypt's exports of medicines, cosmetics, and medical supplies increased by 45%, to record $883 million in the period from January to November 2022, compared to $610 million in the same period in 2021, with the continued good performance of exports.

Dr. George said in a statement today that cosmetics exports recorded a big jump, reaching levels of $558 million during the first 11 months of 2022, compared to $268 million, an increase of 208%, pointing out that pharmaceutical exports amounted to $226 million in the period from January to January. November 2022 for $251 million.

He added that the African market is promising for the sector's products during 2023, but some obstacles must be dealt with.

These obstacles include the lack of banks that give credit facilities to importers and the long period of transporting goods, which may take about 4 months from the source to the importer.