Recent official data revealed that Egyptian exports increased by 27% to reach around $ 31 billion in 2021, the largest volume of exports in the history of the Egyptian economy.
A few days ago, the Egyptian government’s Ministry of Commerce and Industry predicted that Egyptian exports would exceed $ 31 billion in 2021, recording the highest ever in the history of Egyptian commodity exports, surpassing the highest number. reached in 2019 and amounted to $ 25.6 billion in 2019.
The ministry revealed that Egypt managed to achieve a significant increase in the volume of exports, after their total value registered about $ 29.1 billion during the first 11 months of last year, with a growth rate of about 27%, a difference of $ 6.2 billion from the previous year.
This increase in the volume of exports demonstrates the ability of the export sectors to deal with the global crisis imposed by the crisis of the outbreak of the new Corona virus since the beginning of last year, despite the challenges witnessed by the global economy, which in in turn it will affect the Egyptian economy, including high inflation rates and freight prices.
The top sectors were led by the metalworking industry, which made exports worth $ 2.6 billion during the first 10 months of last year, with a growth rate of 45%. October alone reached the highest monthly export volume since 2009, worth $ 351.5 million.
In second place was the chemical industries sector, whose exports are expected to exceed £ 6 billion, at a rate of 40% over the course of 2021, and exports of ready-made garments have increased by the same percentage, approaching 2 billion. dollars.
Available data indicates that the Egyptian government has been successful in exporting a large percentage since the decision to float the pound and restructure the economy under the government’s reform program announced in early November 2016.
The Egyptian government was in able to increase the volume of exports in large proportions, leveraging on a series of mechanisms, which made the total value of Egyptian exports jump in the years from 2016 to last November to approximately 165.3 billion dollars.
The data indicates that the volume of Egyptian exports amounted to 22.5 billion dollars in 2016, compared to about 29.1 billion dollars in the first 11 months of 2021, recording an increase of 29.3%.
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