Egyptian exports projected to grow by $6.4B in 2022

CAIRO – 28 November 2022: Egypt aims for doubling the value of its exports to become $100 billion per annum by rationalizing imports coupled with encouraging labor-intensive and strategic industries.

As a start, the country targets to reach $60 billion in exports by 2025. That can be achievable as their value hit $43.6 billion in 2021, and is projected to record $50 billion in 2022.

In the first eight months of the year, Egypt achieved $34.3 billion worth of exports compared to $26.8 billion during the same period in the previous one, growing by $7.5 billion.

Finished goods composed 43.9 percent of exports' value ($15 billion), followed by petroleum products with 29.5 percent ($10.1 billion).

Regarding natural gas and liquefied natural gas (LNG) in specific, the worth of exports spiked from $177.2 million in 2017 to $3.9 billion in 2021, and $5.08 billion in the first eight months of 2022.

The top importers of Egyptian goods in 2021 were the G7 ($9.9 billion), ESCWA ($8.9 billion), AU member states ($5.5 billion), and BRICS ($4.6 billion). As for the European Union (AU), Egypt's exports to the bloc almost doubled to become $14.5 billion in 2021 up from $7.7 billion in 2017.