Back to the complete issue
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.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.