Egypt's exports exceed $31B in 2021

CAIRO - 16 January 2022: The Egyptian Minister of Trade and Industry, Nevin Gamea, confirmed that the Egyptian exports made a big leap during 2021, exceeding $31 billion in value.

Gamea said, in a statement, Sunday, that the ministry, in turn, assumed the implementation of a comprehensive strategy to access more markets and enhance the competitiveness of the Egyptian product in order to reach the target of $100 billion in exports annually, by setting frameworks for the flow and growth of exports and consolidating the positive role of the state in developing and stimulating exports and increasing their rates.

She added that the government seeks to put Egypt on the map of global supply chains, pointing out that the contribution of industrial production to the gross domestic product (GDP) reached 17 percent during the fiscal year 2019-2020, compared to about 16 percent during the fiscal year 2018-2019.

The minister also noted that work has been done to improve the investment and legislative environment through a number of measures to stimulate exports and ensure that positive rates of Egyptian export growth are maintained in light of the negative effects of the outbreak of the coronavirus epidemic on the global economy and to achieve a substantial increase in the Egyptian exports as the most important sources of foreign exchange, and the locomotive of growth for industries with competitiveness in global markets.

She explained that the Egyptian government welcomes the promotion of joint commercial and industrial cooperation with all countries to enhance its investment presence in Egypt and benefit from the advantages offered by the Egyptian market, the most important of which is access to global markets through preferential trade agreements concluded between Egypt and many countries and regional and international groupings.