MEMPHIS REISEN

Egypt’s merchandise exports experience 5.3% growth in Q1 – Dailynewsegypt

Trade and Industry Minister Ahmed Samir has declared a 5.3% growth in Egypt’s merchandise exports for the first quarter of this year, reaching $9.61bn. This marks an increase from the $9.13bn reported in the corresponding quarter of 2023.

The report highlights the primary markets for Egyptian exports during Q1, with Turkey leading at an export value of $874m, followed by the Kingdom of Saudi Arabia at $792m, the United Arab Emirates at $586m, Italy at $544m, and the United States of America at $471m.

Key export sectors shaping Egypt’s merchandise exports in Q1 included building materials at approximately $1.96bn, food industries at $1.55bn, chemical products and fertilizers at $1.44bn, and crops also at $1.44bn.

Other significant sectors were engineering and electronic goods at $1.272m, ready-made garments at $673m, textiles and spinning at $273m, and the combined sector of printing, packaging, paper, books, and artistic works at $244m. Additionally, the medical industry exports stood at $156m, home furnishings at $141m, and furniture at $67m. Handicrafts contributed $52m, while leather goods, including footwear, added $34m to the export tally.

The report further detailed that standout export items showing an uptick in Q1 of 2024 were fresh and dried citrus fruits valued at $625m, nitrogen fertilizers at $421m, insulated wires and cables at $339m, petroleum oils at $317m, and gold at $303m.