Egypt’s exports jump 48.8% YoY

The total value of Egypt’s exports grew by 48.8% year-on-year (YoY) in 2021, recording $42.6 billion, compared to $29.3 billion in 2020, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced its annual bulletin on foreign trade issued on October 27th.

The non-oil exports were valued at $32.5 billion in 2021, rising by 29.9% YoY from $25.1 billion, data showed.

Meanwhile, the petroleum and electricity exports climbed by 164.3% in 2021 to $11.1 billion, versus $4.2 billion in 2020, the annual bulletin added.

Turkey was the top importer of Egypt in 2021, capturing 6.9% of Egypt’s total exports, followed by Italy and the US which acquired 6.6% and 5.8%, respectively, of total exports, the CAPMAS added in its bulletin.

Egyptian exports to Turkey rose by 75.1% last year to $3 billion, while exports to Italy and the US increased to record $2.9 billion and $2.5 billion each.

On the other hand, Egypt’s imports jumped by 26.6% to $89.2 billion in 2021, versus $70.4 billion in 2020.

The value of non-oil imports hit $79.2 billion last year, rising by 23.6% from $64 billion in 2020.

Moreover, the country’s petroleum and electricity imports grew by 56.3% to $10 billion in 2021, versus $6.4 billion in 2020.

China was ranked first among the top exporters to Egypt in 2021, with imports from the Asian country making up 16.2% of Egypt’s total imports, with Saudi Arabia and the US coming in second and third places.

The value of Egypt’s imports from China rose by 23.4% to $14.4 billion last year from $11.9 billion in 2020.

Furthermore, Egyptian imports from Saudi Arabia stood at $6.9 billion in 2021, while imports from the US recorded $6.3 billion.

In July, Prime Minister Mostafa Madbouly announced that the total value of Egyptian exports jumped by 49% YoY to over $40 billion in 2021, compared to $26.8 billion in 2020.

Madbouly previously revealed that Egypt’s non-oil exports to African countries recorded $5.4 billion in 2021, growing by 38.5% from $3.9 billion in 2020.

 

Source: https://www.zawya.com/en/economy/north-africa/egypts-exports-jump-488-yoy-itsjjw42

 

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