The government continues to make efforts to increase exports.
Egypt's various industrial sectors have experienced mixed results in the first two months of 2023, with some sectors recording significant increases in exports while others have seen a decline.
According to latest update on export figures, the chemical products sector led the way with $1.17 billion in exports, followed closely by the building materials sector with $1.098 billion. Meanwhile, agricultural products recorded $763 million in exports, while the engineering industries sector saw $626.5 million.
The ready-made garments sector recorded $383.5 million, while the spinning and weaving sector recorded $194 million, and the furniture sector recorded $83 million in exports.
Despite the mixed results, the government continues to make efforts to increase exports. Two plans are currently being implemented, the first to increase Egyptian exports to African markets and the second to increase exports to all international markets.
The Africa plan aims to deepen trade relations with black continent countries and expand the launch of logistics centers on the continent, providing goods in sectors where Egypt has a relative advantage.
Egypt has successfully established six logistics centers in several African countries, including Kenya, Morocco, Mauritius, Nigeria, Zambia, and Algeria, out of a total of 12 targeted logistics centers. The locations for the remaining six are currently being identified.
This update on the export figures of Egypt's various industrial sectors highlights the country's ongoing efforts to increase its presence in the global market.
While some sectors have seen declines, others have experienced significant growth, and the government's initiatives to expand trade relations with Africa and establish logistics centers on the continent bode well for Egypt's future economic prospects.