Egypt's Exports Rose by 20% to Hit $53.8 Bln in 2022, Madbouly Says

On Wednesday, Egypt's Prime Minister Mostafa Madbouly said that initial figures showed that the country's exports totaled around $53.8 billion in 2022, up from about $45 billion the previous year.

The top ten importers included Spain and Turkey with commodities worth $3.1 billion each, followed by Italy with $2.8 billion, and the US with $2 billion. Saudi Arabia came in fifth place with imports worth $2 billion.

The Netherlands came sixth with imports worth $1.7 billion, followed by South Korea, France, and China with imports worth $1.6 billion, $1.95 billion, and $1.6 billion, respectively.

Finally, the UAE came in tenth, importing Egyptian commodities worth $1.5 billion, according to CAPMAS.

The top 10 commodities that Egypt exported during the period included liquefied natural gas (LNG), at a total value of $7.9 billion, fertilizers ($2.7 billion), crude oil ($2.6 billion), and petroleum products ($2.6 billion).

It also included ready-made garments ($2.1 billion), plastics ($1.6 billion), fresh fruits ($1.4 billion), various doughs and prepared foods ($818.1 million), potatoes ($370.6 million) and carpets and hand-woven kilim rugs ($342.7 million).

Egypt intends to reach $100 billion in annual exports by 2025.

Last year, Egypt embarked on a plan to cut imports and increase exports by localizing manufacturing in nine investment sectors, including wood and furniture, chemicals, and textiles.