Exports Soar by 26% in 2021

Giving More to Your Wealth
20 Jan 2022

The Minister of Trade & Industry reported that Egypt’s non-oil exports in 2021 reached USD32.1bn, a rise of over 26% compared with 2020. Exports to E.U. countries hit USD9.2bn, up a stunning 56%. As for Africa, exports to the continent excluding Arab countries rose by 28%. The biggest importer of Egyptian goods in 2021 was the U.S. at USD2.4bn, followed by Saudi Arabia and the U.A.E.. As for petroleum exports, the Minister of Petroleum stated that the sector’s exports surpassed 2020, reaching over USD10bn in 2021.

The impressive growth in exports is supported by a number of government initiatives aimed at invigorating exporting industries, including help with accessing new markets, raising competitiveness, and direct subsidies. Egypt is targeting to reach USD100bn in annual exports within the coming few years. The interim milestone is to achieve USD40bn by the end of 2022, an increase of 25% over 2021.

(Source: Mubasher (English) (Arabic), Zawya (English), Egypt Today (English), See News (English), Xinhua (English), al-Maal, al-Youm al-Saabe, al-Masry al-Youm, al-Shurouk, al-Dustour, Akhbar al-Youm, Sada el-Balad, al-Arabiya, RT)

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