Egypt Targets $145 Billion in Exports by 2030, Says Investment Min.

Egypt is aiming to nearly triple its export revenues to $145 billion by 2030, as part of a broader strategy to strengthen external trade and drive economic growth, according to Mohamed Farid, Minister of Investment and Foreign Trade.

Speaking before the Industry Committee of the Egyptian Senate, Farid described export expansion as a “critical priority,” noting that Egypt’s exports have already risen from $32 billion to $48 billion in recent years, an increase he said reflects improving trade performance and policy reforms.

The minister emphasized the need to modernize export infrastructure, calling for the establishment of technology-driven export offices capable of identifying opportunities and providing real-time market intelligence. “Access to information is vital for exporters,” he said, highlighting the role of data and digital tools in enhancing competitiveness.

He also pointed to the importance of youth engagement in the export sector, citing their familiarity with technology and artificial intelligence as a key asset in building a new generation of exporters.

Farid added that digitizing trade exhibitions could further boost Egypt’s global commercial presence, facilitating easier access to international markets and partners.

On the domestic front, the minister reported a “notable leap” in industrial sector performance خلال recent quarters, positioning it as a cornerstone of economic growth. He revealed that industrial growth reached as high as 18% in certain periods, while the latest quarterly data recorded a strong 9.8% expansion.

This growth, he explained, was partly driven by base-year effects, as well as improved availability of production inputs following the exchange rate unification measures implemented in March 2024.

According to figures presented during the session, the industrial sector contributed more than 1.2 percentage points to Egypt’s overall economic growth rate of 5.3%, meaning roughly one-fifth of total growth is directly tied to industrial activity.

Investor confidence has also shown marked improvement. Farid noted that private sector participation in total investments increased from 40% in the 2021/22 fiscal year to 66% in the first quarter of 2025, an indication, he said, of growing trust in Egypt’s structural reforms and updated tax and legislative frameworks.

He reaffirmed the ministry’s commitment to supporting all economic sectors, including tourism, agriculture, and trade, alongside industry, as part of a comprehensive development strategy aimed at achieving long-term growth targets.