Egypt’s food exports record $5.1B during 2023

Egypt experienced a boost in its food exports in 2023, with a 14% increase amounting to $602 million, to reach a record $5.1 billion, surpassing the figure of $4.5 billion in 2022, according to data revealed by the Food Expert Council (FEC) on Monday.

In July 2023, Egypt experienced significant growth in its food exports, as reported by the FEC. The figures indicate an increase of 64% to reach $487 million, up from the $297 million recorded in July 2022.

However, there was a slight decline in exports during April and December 2023. In April, exports experienced a decrease of 9%, amounting to $381 million. Similarly, in December, exports dropped by 11 %, reaching $339 million.

Arab countries topped the list of the most important international groups importing Egyptian foods during 2023, representing 54% of total food exports with a value of $2.7 billion, achieving a growth rate of 17% year-on-year.

This was followed by the European Union representing 17% of total exports valued at $884 million, with a growth rate of 15%.

Non-Arab African countries also imported from Egypt with a value of $467 million, representing 9% of total exports, and achieved a growth rate in the value of exports amounting to 22%.

Additionally, Egypt exported food to the United States of America with a value of $233 million, and the remaining international groups received exports worth $745 million.

Egypt has set a goal to raise its food exports by 10%, equivalent to $500 million, reaching a total of $5.6 billion in 2024, according to the head of the FEC, Hany Berzy.

Berzy emphasized the government's dedication to examining the global food industry sector in order to discover potential avenues for growth in Egyptian exports across international markets.

Additionally, the government seeks to overcome any barriers that may impede the development of exports, aligning with the government's commitment to improving export capabilities and increasing foreign currency inflows.