Egyptian exports to African countries to rise by 10 percent by end of 2023 to $5.5B

Egypt’s exports to Africa are expected to increase by 10 percent by the end of the year to an estimated value of $5.5 billion, Sherif El-Gabaly, the Chairman of the Egyptian Chamber of Chemical Industries at the Federation of Egyptian Industries (FEI).

Speaking at the African Intra-Trade Exhibition (IATF 2023), El-Gabaly highlighted the importance of strengthening ties with African countries, emphasizing their potential as vibrant markets with a collective population of 1.5 billion.

El-Gabaly stressed that Egypt plays an important role as a reliable gateway to Africa during the IATF 2023 event held in Cairo which hosts over 1,950 foreign exhibitors.

The Ministry of Trade recently published data that shows a 1.2 percent increase in trade exchange between Egypt and African nations, reaching $5.82 billion in the initial eight months of 2023, compared to $5.75 billion in the corresponding period of 2022.