Egypt’s chemical exports surge to $4 billion in H1 2024, taking 20% of total non-oil exports

Egypt’s chemical exports surged to $4 billion in the first half of 2024, securing the sector’s position as the second-largest contributor to the country's non-oil exports, representing 20% of the country’s total non-oil exports.

Citing data from the Egyptian General Organization for Export and Import Control (GOEIC), Chemical and Fertilizers Export Council (CEC) chairperson Khaled Abu Al-Makarem highlighted various chemical sectors that experienced significant growth during this period.

According to the CEC chairperson, plastic products saw a 2% increase, petrochemicals rose by 7%, detergents surged by 21%, inks and paints grew by 8%, and rubber saw a 16% boost. Other chemical products collectively grew by 3% in H1 compared to the same period last year.

The increase in chemical exports was driven by strong demand from international markets; Turkey led as the top importer with $595.94 million in imports, followed by Italy at $368.95 million, Spain at $221.87 million, Saudi Arabia at $210.72 million, France at $206.06 million, and Brazil at $158.59 million.

The top 10 importing countries collectively accounted for $2.241 billion, or 58% of the sector’s total global exports.

Abu Al-Makarem attributed the chemical sector’s strong performance to the government’s successful strategy in supporting and developing the industry, enhancing its global competitiveness.

In a separate announcement, Essam El-Naggar, Chairman of GOEIC, revealed that Egypt’s total exports during the first seven months of 2024 amounted to $24.097 billion.

The building materials sector led the export list with approximately $5.599 billion, he explained, followed by the chemical products and fertilizers sector at about $4.509 billion, the food industries sector with $3.669 billion, and the engineering and electronic goods sector at $3.098 billion.