Egypt's Exports to COMESA Hit $1.683 Billion

Zainab Mamdouh, Director of the Africa Department at the Ministry of Trade said that the volume of Egyptian exports to the Common Market of Eastern and Southern Africa (COMESA) amounted to $1.683 billion in 2019 compared to $1.522 billion, year-on-year.

Mamdouh added on Wednesday that imports also rose to $945 million compared to $737 million for the same period.

This came during a symposium organized by the Food Export Council (FEC) under the title "COMESA … Between Reality and Application".

She indicated that Egypt's exports to COMESA represent 45% of the country's exports to Africa, registering $4.767 billion in 2021, compared to imports worth $2.096 billion.

The food industries sector represents 34% of Egyptian exports to COMESA, followed by chemical industries by 16%, engineering industries by 10%, medical and pharmaceutical industries by 8%, construction products by 7%, and 25% to various items.

She pointed to the activation of the Recovery Residence Payment System (RRPS) to help remove all obstacles related to financing, in addition to the difficulties hindering payments and any settlement process between COMESA member states.