03 Jan 2022
The Prime Minister revealed that Egypt’s non-oil exports soared in 2021 to reach a new all-time high of USD31bn. This represents a whopping 27% increase over 2020. Some of the most popular Egyptian exports are clothing & textiles, fertilizers & chemicals, foodstuff & agricultural products, pharmaceuticals & medical products, and construction & engineering goods.
A key factor that contributed to the impressive growth in exports is the government’s comprehensive export support program, which includes a recently reformed export burden rebate incentive system. Furthermore, Egypt’s strategic central geographic location makes shipping costs lower for many countries and regions. Currently, there are plans in effect to boost Egyptian exports over the coming years to multiples of their current levels.
(Source: State Information Service (English), Xinhua Net (English), Business Today Egypt (English), al-Ahram (English) (Arabic), Egypt Today (English), Mubasher, Amwal al-Ghad, al-Youm al-Saabe, al-Shurouk, Masrawy, Sada el-Balad, CNBC Arabia, al-Arabiya, Sky News Arabia, Middle East News Agency, RT)