Egypt's Food Industries Exports Hit $5.5bn In First 11 Months Of 2024

Mohammad Ali (@ChaudhryMAli88) Published January 01, 2025 | 10:45 PM

(UrduPoint / Pakistan Point News / WAM - 01st Jan, 2025) CAIRO, 1st January, 2025 (WAM) – Egypt's food industry achieved remarkable growth from January to November 2024, with exports reaching approximately $5.5 billion. This represents a 17% increase compared to the $4.7 billion recorded during the same period in 2023, amounting to an additional $813 million.

Notably, this marks the highest export value and growth rate ever recorded during this timeframe, exceeding the total exports for all of 2023, which stood at $5.068 billion, with an increase of $474 million.

The Export Council for Food Industries said in a statement on Wednesday that Arab countries remained Egypt's largest export market, accounting for $2.936 billion or 53% of total food exports, and achieving a 15 percent growth in value.

The European Union followed with $1.083 billion, representing 20% of total exports and an impressive 33 percent growth rate.

Non-Arab African countries contributed $464 million, making up 8% of total exports and growing by 7 percent. The United States recorded $302 million in exports, representing 5% of the total and achieving a 40% growth rate.

Other international markets added $756 million, accounting for 14% of total exports, with an 8 % growth rate.

Over the decade from 2014 to November 2024, Egypt's food industry exports accumulated to an impressive $40.5 billion, underscoring the sector's growing importance in global markets and its role in driving economic growth.