Egypt’s Ministry of Trade and Industry has reported a remarkable growth in the country’s food industry exports, reaching $2.6 billion in the first seven months of the year. This figure reflects a substantial increase compared to the same period in the previous year when exports amounted to $2.3 billion.
This surge in food exports can be attributed to a 13% rise in food shipments to Arab nations, with a total value of $1.361 million, as revealed by data published by the Export Council for Food Industries (ECFI).
Furthermore, it’s noteworthy that Egypt’s trade balance deficit has decreased by 20.8% during this period, dropping from $22.52 billion in the same period in 2022 to $17.84 billion in 2023, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS). This indicates positive developments in Egypt’s trade performance.
