Egyptian exports of processed food grow by 15% in Jan.-Nov. 2023

The Egyptian exports of processed food recorded $4.7 billion in January-November 2023 achieving growth of 15 percent ($628 million) up from $4.1 billion during the same period in 2022.

The top importing countries are Arab states with $2.5 billion (54 percent), EU members with $818 million (17 percent), non-Arab African countries with $430 million (nine percent), and the United States with $212 million (four percent).

The cabinet’s Information and Decision Support Centre (IDSC) revealed in a report earlier in December that Egypt’s non-oil trade deficit contracted by 15 percent to record 9.1 billion during the third quarter of 2023 compared to Q3 2022 which reported a $10.7 billion deficit.

The media center explained that the decline was caused by a 4.3 percent drop in non-oil imports, totaling around $17.6 billion, down from $18.4 billion in the same period in 2022.

In its quarterly non-oil merchandise exports report, the IDSC reported an increase of 10.4 percent in non-oil exports during the July-September period to reach $8.5 billion compared to the $7.7 billion recorded in Q3 2022.