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Monday, 3 January 2022

Egypt’s non-oil revenues reach record levels in 2021 -Madbouly

Non-oil export revenues reached a record USD 31 bn in 2021, Prime Minister Moustafa Madbouly said yesterday. Government efforts to support exporters with subsidies and pay off arrears helped to drive the increase in revenues, a cabinet statement cited Trade Minister Nevine Gamea as saying.

This is a significant increase on 2020, when proceeds from exports came in at USD 25 bn, according to official balance of payments data from the Central Bank of Egypt (CBE). Revenues during the first half of 2021 totalled USD 15.8 bn, according to CBE figures.

The volume of our agricultural exports rose 9.5% to a record 5.6 mn tons last year, the Agriculture Ministry said in a statement yesterday. Citrus fruits were by far the most exported product by tonnage at 1.8 mn tons, followed by beets at 650k tons and potatoes at 614k.

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