Fitch Solutions: Egyptian petrochemical sector exports grew 45% in 2021

Fitch Solutions indicated that the Egyptian petrochemical, chemical, and cement industry exports have grown by 45%  reaching $6.7 billion by 2021 driven by natural gas growth and high prices, the Information and Decision Support Center (IDSC) announced.

These figures are more than the expectations of the Chemical and Fertilizer Export Council that stands at $5.8 billion increasing by 11%.

Fitch recommended the continuous growth in the future during Egypt’s transition from importer to exporter. The IDSC added that the Ministry of Petroleum and Mineral Resources is carrying out 11 petrochemical projects with total investment costs of $19 billion during the period 2020 – 2035.