03 Jan 2023

 

 

 

 

22/12/2022:

Egypt’s Fertilizer Exports to Europe Reach EUR 1.5bn in the First Ten Months of 2022

Compared to the first 10 months of 2021’s fertilizer exports to Europe; EUR 521mn, the same period this year saw exports almost triple. Although exports of fertilizers to Europe grew by 187.5%, Egypt’s exports to Europe grew almost 300% which indicates that the growth is not only attributable to the price and demand increase.

This is a very positive success indicator for Egypt’s plan to increase export revenue, and given that the price of natural gas and the price of fertilizers are positively correlated, this also gives Egypt a very good opportunity to drastically increase export revenue for natural gas, and is a step in the right direction for their plan to become an energy hub. (Sources: Zawya (English), North Africa Post (English), Masrawy, Bloomberg Asharq, al-Masry al-Youm, Sky News Arabia, el-Balad)