Food exports rise in 1H2021
The value of Egypt’s food exports’ increased 13% y-o-y during 1H2021, reaching USD 2 bn against USD 1.8 bn in the same period last year, according to figures released by the Food Export Council yesterday. Food accounted for 13% of the country’s non-oil exports during the six-month period, which saw Egyptian companies ship goods worth USD 15.4 bn overseas.
Who’s buying? Arab countries were the most important importers of Egyptian food products during 1H2021, accounting for more than half of the country’s total exports. Countries in the region imported food worth USD 1.09 bn during the six-month period, up 9% from last year. The European Union (14%), non-Arab African countries (11%), and the US (5%) were our next biggest customers.
Food has been surprisingly covid-resistant: Food exports made it through the worst of the covid-related trade disruption last year to tick up to USD 3.5 bn, from USD 3.4 bn in 2019.