CAIRO - 5 November 2023: According to an Institute of National Planning report cited by local media, Egypt is actively working to boost its export rates in seven key industrial sectors.
These sectors include computer manufacturing, electronic and optical products, and metal industries.
The report also highlighted other sectors targeted for improvement, namely chemical products manufacturing, leather products, the paper and rubber industry, the plastics industry, electrical machinery and equipment, and the food, beverage, and tobacco products industry, as well as the clothing and textile industry.
The Ministry of Trade and Industry to conduct a study aimed at localizing ten industries. These industries include railway industries, textile industry, medical device industry, and food industry, as mentioned in the report.
The manufacturing industries sector plays a significant role in employment, with over 3.4 million workers engaged in various fields, according to the report. The food industries sector accounts for the largest share of employment, representing approximately 57 percent of the workforce, as indicated by the employment index.
In July, the Information and Decision Support Center (IDSC) reported a projected decrease in the non-oil trade deficit for the second quarter of 2023. The deficit is expected to be $7.5 billion, reflecting a 9.6 percent reduction compared to the previous quarter. This decline is primarily attributed to the decrease in the value of non-oil imports.
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