Egyptian chemical exports surge to $4bn in H1 2024 – Dailynewsegypt
Egypt’s chemical exports reached $4bn in the first half of 2024, solidifying its position as the second-largest contributor to the country’s total non-oil exports, according to the Chemical and Fertilisers Export Council (CEC).
Khaled Abu Al-Makarem, chairperson of the CEC, announced that chemical exports accounted for 20% of Egypt’s total non-oil exports, citing data from the Egyptian General Organization for Export and Import Control up to June 2024.
Several chemical sectors saw significant growth during the period, including plastic products (up 2%), petrochemicals (up 7%), detergents (up 21%), inks and paints (up 8%), and rubber (up 16%). Other chemical products saw a collective 3% growth compared to the same period last year.
The growth in chemical exports was driven by strong demand from diverse markets. Turkey topped the list of importing countries, with $595.94m worth of imports. Italy ranked second with $368.95m, followed by Spain with $221.87m, Saudi Arabia with $210.72m, France with $206.06m, and Brazil with $158.59m. The top 10 importing countries accounted for $2.241bn, representing 58% of the sector’s total global exports.
“The diversity of markets and importing countries is a result of the sector’s diverse products,” said Abu Al-Makarem.
He added that the strong performance of the chemical industry reflects the success of the government’s strategy to support and develop the sector and enhance its competitiveness in global markets.
“This growth also demonstrates the sector’s ability to face global challenges and adapt to economic changes,” Abu Al-Makarem said.
Mohamed Mageed, the CEC’s executive director, highlighted the role of high-quality products in driving demand.
“The diversity and high quality of Egyptian chemical products have contributed to the increased demand for them in global markets,” Mageed said. “We are always striving to grow Egyptian chemical industry exports and increase their contribution to the national economy. We are working to enhance these results by providing the necessary support to companies operating in this sector and encouraging investment in it.”