Egypt’s food industry exports record $3.2B during H1 of 2024

In the first half of 2024, Egypt experienced a 25 percent surge in its food industry exports, totaling $3.2 billion, equivalent to $638 million, compared to $2.5 billion during the same period in 2023. These findings were detailed in a report disclosed by the Food Export Council (FEC).

 

The bulk of Egyptian food exports during this period were directed towards Arab nations, amounting to $1.64 billion, constituting 52 percent of the total exports and expanding by 24 percent. 

 

The European Union followed closely with contributions of $701 million, representing 22 percent of the total exports and showcasing a remarkable growth rate of 55 percent.

 

Exports to non-Arab African countries reached $225 million, making up 7 percent of the total exports and growing by 9 percent. 

 

The United States imported goods worth $160 million from Egypt, accounting for 5 percent of the total exports and experiencing a growth rate of 28 percent. Other regions collectively imported commodities worth $437 million, comprising 14 percent of the total and registering a growth rate of 4 percent.

 

Among the key food items exported from Egypt from January to June 2024, soft drinks led the pack with a value of $309 million and a growth rate of 10 percent compared to the same period in 2023.

 

This was followed by flour and starch at $276 million, with a growth rate of 39 percent, frozen strawberries at $248 million with a growth rate of 24 percent, juices at $157 million with a growth rate of 91 percent, and edible oils at $146 million with a significant growth rate of 180 percent.

 

The cumulative value of Egyptian food industry exports from January 2020 to May 2024 reached $20.3 billion. Notably, exports in 2020 were around $3.4 billion, escalating to $4.1 billion in 2021, $4.5 billion in 2022, and $5.1 billion in 2023.