Egypt’s exports rise to $45.2 billion in 2021

yousef2 February 2022Last Update : 2 years ago
Egypt’s exports rise to $45.2 billion in 2021

Egypt’s total exports amounted to $45.2 billion in 2021, amounting to $32.3 billion (commodity exports) and $12.9 billion (petroleum exports).

The Cabinet described the total returns of Egypt’s exports last year as historic, after exceeding the highest number ever achieved by Egyptian exports.

According to a cabinet statement, today, Wednesday, the highest number of Egyptian exports (before last year) reached $36.7 billion in the 2010-2011 fiscal year.

Dr. Mostafa Madbouly, Prime Minister, held a press conference today at the Cabinet headquarters, in the presence of Dr. Mohamed Maait, Minister of Finance, and Nevin Jameh, Minister of Trade and Industry.

During his meeting, the Prime Minister reviewed a report that included the most prominent indicators of the performance of the Egyptian economy in general, and Egyptian exports in particular.

Madbouly said that the report included the total Egyptian exports during 2021, noting that the Minister of Trade and Industry had previously reviewed the most important figures of Egyptian non-oil exports, which amounted to about 32.123 billion dollars, and after the last audited review, this number rose to 32.340 billion dollars.

The Prime Minister noted that, besides that, petroleum exports have also grown, and achieved a remarkable increase to reach $12.9 billion, and thus total exports amount to $45.2 billion, which is the highest number achieved by Egyptian exports in its history.

He stressed that the unprecedented increases in Egyptian exports are a step towards implementing the directives of President Abdel Fattah El-Sisi, that Egyptian exports should cross the $100 billion barrier during the next short period, and that the government encourages all industrial and productive sectors in the Egyptian economy; in order to achieve the desired goal.

Madbouly said: By analyzing the structure of Egyptian exports during 2021, we will find that the bulk of exports and its percentage, 71.5%, were for non-oil exports, and these exports include all sectors of industry, which is in line with the President’s directives to the government to encourage the deepening and localization of the industry, Gradual dependence on local industries.

He pointed out that 71.5% of non-oil exports and 28.5% of petroleum exports represent a great achievement in itself, because the 2010-2011 fiscal year, in which Egyptian exports achieved $36.7 billion, the proportion of oil exports in it exceeded 35%, while it became Non-oil exports, which include the productive sectors, represent the largest proportion, which is a good thing.

The Prime Minister added: What was achieved in exports during the year 2021 is the result of a great effort made by the Egyptian state, as was achieved thanks to many initiatives, although it came under exceptional circumstances, namely the crisis of the Corona pandemic, which negatively affected the whole world, and had its negative repercussions A downturn in many economies around the world, and even the closure of many industries worldwide. However, since the beginning of the pandemic, the Egyptian state has followed a different approach characterized by balance and based on encouraging industrial and export sectors; In order not only to remain, but to make a breakthrough, and to make remarkable progress with it.

Madbouly pointed to the many initiatives to support exports, including export support, as the government accelerated the export support program and disbursed financial arrears, some of which date back to 2012, which was a suffering for exporters, and therefore the state allocated a large amount of financial credits exceeding 31 billion pounds, and the government has already paid the amounts to manufacturers and exporters.

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