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Exports of Egyptian goods are about to register the highest number in its history

The Egyptian government’s Ministry of Commerce and Industry predicted that Egyptian exports would cross the $ 31 billion barrier in 2021, recording the highest-ever value in the history of Egyptian commodity exports, surpassing the highest number achieved in the year. 2019 and equal to 25.6 billion dollars. in 2019.

In a recent statement, the ministry revealed that Egypt managed to achieve a significant increase in the volume of exports, after their total value reached about $ 29.1 billion during the first 11 months of quest’year, with a growth rate of about 27%, a difference of $ 6.2 billion from last year.

This increase in the volume of exports demonstrates the capacity of the sectors Export to face the global crisis imposed by the crisis of the spread of the new Corona virus since the beginning of last year, despite the challenges witnessed by the global economy, which in turn affect the Egyptian economy, including high inflation rates and shipping prices.

The high sectors were led by the engineering industries sector, which in the first 10 months of questyear recorded exports of $ 2.6 billion, with a growth rate of 45%. with a value of 351.5 million dollars.

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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