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Egypt's Merchandise Exports Jump to $16.5 Billion in First 5 Months of 2024


Tue 18 Jun 2024 | 10:24 PM
Taarek Refaat

The Egyptian Minister of Trade and Industry Ahmed Samir, announced Tuesday that Egyptian merchandise exports continued to rise for the fifth month in a row; reaching about $16.551 billion during the first 5 months of 2024, compared to $15.74 billion, year-on-year, an increase of 9.8%.

Egypt's merchandise exports during the month of May reached $3.5 billion, which is the highest rate achieved by Egyptian exports in a month. "This is the first time that Egyptian exports during the first 5 months of the year have reached such large export rates," The minister said.

Samir explained that the largest markets importing for Egyptian merchandise during the first 5 months of this year included Saudi Arabia with a value of $1.391 billion, Turkey with a value of $1.310 billion, the UAE with a value of $1.133 billion, and Italy with a value of $974 million, and the United States with a value of $904 million.

The minister pointed out that the most important export sectors that formed the structure of Egyptian merchandise exports included building materials worth $3.9 billion, food industries worth $2.6 billion, chemical products and fertilizers worth $2.5 billion, and agricultural crops with a value of 2.3 billion, engineering and electronic goods with a value of $2.18 billion.

Moreover, ready-made garments exports recorded $1.77 billion, furnishings, yarn and textiles with a value of $717 million, printing and packaging products, paper, books and artistic works with a value of $393 million, and medical industries with a value of $267 million, furniture worth $112 million, handicrafts worth $87 million, and leather, shoes and leather products worth $49 million.