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Thursday, 20 January 2022

Non-oil exports hit record USD 32 bn in 2021

Non-oil exports rose 26% y-o-y to hit a record USD 32 bn in 2021, up from USD 25.4 bn in 2020, Trade and Industry Minister Nevine Gamea said in a statement. Government efforts to support exporters with subsidies and pay off arrears, restructure export councils, and bilateral and multilateral trade agreements helped to drive the increase in revenues, she said. The figure is slightly higher than the preliminary USD 31 bn Prime Minister Moustafa Madbouly announced at the beginning of the month.

The sectors that generated the most export revenues were chemical products and fertilizers at USD 6.7 bn (up 45%), engineering and electronics at USD 3.4 bn (up 46%), and readymade garments at USD 2 bn (up 39%).

Our biggest export markets? The US, Saudi Arabia, Turkey, Italy, the UAE, Malta, Spain, the UK, Libya and Canada.

And by region: Exports to the EU increased 56% to USD 9.2 bn, exports to the US were up 51% to USD 2.4 bn, exports to Africa excluding Arab nations jumped 28% to USD 1.9 bn, and exports to other markets were up 31% to hit USD 7 bn.

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