Egypt’s furniture exports rose by 10% in 2017

CAIRO – 08 June 2017: Furniture exports rose by 7-10 percent during the first quarter of 2017, comparing to last year’s growth, with foreign currency revenue reached 7 percent, according to statements of head of Furniture Export Council, Ehab Deryas on Wednesday.

“The council aims at rising exports by 20 percent by the end of the year, which is reachable following the floatation decision,” Deryas said during the Sohur party held by the council on Wednesday. He pointed out that growth is slow, due to problems exporters face.

Deryas proposed that Egyptian companies take part in furniture exhibitions abroad, to support the national industry and encourage importers to buy our products. Egyptian companies are set to take part in exhibitions in countries, such as KSA, U.S., France, Italy and UAE, according to Deryas.

“Damietta Furniture City will be a key element to attract international manufacturers to invest in Egypt,” Deryas added.

The Damietta Furniture City Project, launched in 2015, is being built on 331 acres of land, and is expected to include at least 2000 workshops and 55 factories. The project is set to provide over 40,000 direct jobs and 120,000 indirect jobs, as well as boosting the capacity of 2,400 furniture factories and workshops, the Trade Ministry announced in July 2015.

The project aims at developing the industry of furniture by using modern technology. The estimated cost of the Damietta Furniture City project ranges between LE 4.5 ($248 million) to LE 5 billion.

Damietta is known to be the Egyptian hub for the furniture industry, where 70 percent of exported furniture comes from the city.