Egypt’s Exports Leap to Highest Level in History

The value of Egyptian exports leaped throughout 2021 to $31 billion to reach the highest level in history.

The Egyptian exports grew by 22.5 percent in 2021 compared to the level of the previous year when they amounted to only $25.29 billion.

The newly-registered increase in Egypt’s exports linked to the growth in exports of some sectors like chemicals and fertilizers which came in advanced place among the exports.

The Council of Ministers issued a statement saying that exports of materials of construction, foodstuffs, engineering, and electronic commodities grew significantly then came agricultural exports, ready garments, paper, textiles,  and products of medical industries.

Exporters in a number of sectors said that the leap in Egypt’s exports resulted from many factors such as a rise in costs of conveying between various parts of the world during the last year which made the neighboring countries to Egypt import from her in addition to the crisis of energy in China what pushed costs of importing to higher levels.

Figures showed that the exports of some sectors achieved unprecedented levels in history.

It is worth noting that exports of the Exporting Council for Engineering Industries (ECEI) exceeded the level of $3 billion in the first eleven months of 2021 for the first time.

This figure is compared to $2.07 billion covering the same months of 2021.

Eng. Sherif El Sayyad, Head of the (ECEI) said that increase in costs of conveying containers from China in 2021 led the neighboring countries in southern Europe, Africa, Gulf states to import raw materials from  Egypt instead of China.

Egypt enjoys more advantages such as shorter distances to the neighboring countries.

However, the volume of exports of foodstuffs leapt within the first6 eleven months of 2021 to register an unexpected figure over that period.

According to the statement of the (ECEI), the exports of foodstuffs amounted to $ 3.8 billion in the first eleven months of 2021.

On the other hand, exports of cement grew by 180% within the first ten months of 2021 to register $397 million.