Chemical exports were the 2nd largest non-oil exporting sector in H1 2024

In the first half of 2024, Egypt’s chemical exports soared to $4 billion, making it the second-largest contributor to the country’s non-oil export sector and accounting for 20 percent of the total.

Khaled Abu Al-Makarem, chairperson of the Chemical and Fertilizers Export Council (CEC), noted that several chemical sectors saw substantial growth in H1 2024, citing data from the Egyptian General Organization for Export and Import Control (GOEIC).

According to the CEC chairperson, plastic products saw a 2 percent increase, petrochemicals rose by 7 percent, detergents surged by 21 percent, inks and paints grew by 8 percent, and rubber saw a 16 percent boost. Other chemical products collectively grew by 3 percent in H1 compared to the same period last year.

The increase in chemical exports was driven by strong demand from international markets; Turkey led as the top importer with $595.94 million in imports, followed by Italy at $368.95 million, Spain at $221.87 million, Saudi Arabia at $210.72 million, France at $206.06 million, and Brazil at $158.59 million.

The top 10 importing countries collectively accounted for $2.241 billion, or 58 percent of the sector’s total global exports.

Abu Al-Makarem attributed the chemical sector’s strong performance to the government’s successful strategy in supporting and developing the industry, enhancing its global competitiveness.

In a separate announcement, Essam El-Naggar, Chairman of GOEIC, revealed that Egypt’s total exports during the first seven months of 2024 amounted to $24.097 billion.