Egypt’s exports of iron and steel experienced significant growth, with a 46 percent increase in the first five months of 2023, according to the Export Council for Building Materials, Refractory, and Metallurgy Industries (ECBM). The total value of exports reached $943 million during this period, compared to $647 million recorded in the same timeframe last year.
The ECBM report revealed that Egypt’s iron and steel exports reached 69 countries from January to May. Spain emerged as a key importer, with imports of iron and steel from Egypt valued at $187.745 million, reflecting a 32 percent year-on-year (YoY) increase.
Notably, Egypt’s iron and steel exports to Türkiye witnessed a remarkable surge of 1,388 percent, reaching a value of $109.261 million during the same period. The United States imported $103.536 million worth of Egyptian iron and steel products. However, exports to Italy experienced a 20 percent YoY decline, totaling $95.195 million.
The substantial growth in Egypt’s iron and steel exports highlights the country’s expanding presence in the global market. The increased demand from various countries signifies the competitiveness and quality of Egyptian iron and steel products. These positive export figures contribute to the country’s economy, foster industry growth, and strengthen its position as a key player in the global iron and steel market.
