trade
The report highlights several crucial factors influencing Egypt's economic trajectory, with a particular focus on policy changes, inflation concerns, and the persistent challenges surrounding structural reforms
Trade with Egypt’s top 14 trading partners accounted for 64.6 percent of its overall foreign trade, totaling around $67.6 billion.
Deputy Minister Hefny noted the multiplication of trade exchange figures over the past three years between Egypt and Ghana, and commended the entry of Ghanaian firms to the Egyptian market.
That is among other measures aimed at bolstering trade exchange.
Egypt’s exports to Nile Basin countries reached $1.73 billion in 2023, marking a 2.1% increase from $1.70 billion in 2022
Egypt’s exports to the D-8 countries reached $3.1 billion during the first ten months of 2024, down from $3.7 billion during the same period in 2023.
This agreement aims to enhance specialized steel industries, galvanization processes, and the production of telecommunications towers, while supporting participation in government and public sector tenders within the Saudi market. The partnership also opens the door for future cooperation in a wide range of industrial products.
Egyptian firms also want to seize investment opportunities in the sectors of transportation and constructions.
The agreement aims to enhance trade flows, strengthen international supply chains, and provide reciprocal benefits to the private sector in both countries.
Abou El Makarem emphasized that exports are crucial for the industry's survival, driving quality improvement, development, and modernization of machinery
The last two months reported consistent growth, with non-oil exports reaching $29.713 billion by the end of September and increasing by 12.2 percent by the end of October.
He also highlighted that this development is the outcome of the continuous communication and collaboration between the CBE and African central banks
During an economic summit in Düsseldorf, officials from both countries announced an ambitious goal to boost trade to €9 billion by the end of 2024, a €2 billion increase from the current level of €7 billion.
Within the framework of Egypt’s goal to increase its total exports to $140-145 billion by 2030, the Chemicals and Fertilizers Export Council is planning a series of trade missions in 2025 to boost the country’s exports and strengthen its position in international markets
Imports from Jordan also experienced a notable increase, reaching $182 million in the first nine months of 2024
Egypt presented specific projects in New Alamein and Greater Cairo, highlighting their strategic locations and access to energy resources.
Minister of Foreign Affairs Badr Abdel Aaty met Tuesday with his Italian counterpart Antonio Tajani to increase trade exchange and activate the Egyptian-Italian Business Council.
The minister also highlighted efforts to attract foreign investments and increase Egyptian exports to international markets.
Data from the Central Agency for Public Mobilization and Statistics (CAPMAS) monitored the development of Egyptian exports to African Union countries, which achieved a significant increase during 2023.
Foreign investments from G20 nations in Egypt rose to $12 billion in the 2022/2023 fiscal year, up from $8.7 billion in 2021/2022
