Egypt’s telecom sector contribution to GDP increases by 5.8% during FY2023/2024

Minister of Communications and Information Technology, Amr Talaat, reported that the telecommunications sector's share of Egypt's GDP rose significantly, from 3.2 percent six years ago to 5.8 percent in the 2023/2024 fiscal year.

 

Egypt’s outsourcing exports saw a remarkable 54 percent increase within a year, while the country attracted five global companies to set up mobile and tablet manufacturing facilities, with over 40 percent in added value.

 

Talaat made these statements during his address at the Tech Heritage - IBM Business Partners Forum, celebrating IBM’s 70 years in Egypt. He emphasized that Egypt’s ranking in fixed internet speed in Africa improved dramatically, leaping from 40th place six years ago to the top position two years ago and holding this rank since then.

 

Additionally, Talaat highlighted Egypt's progression on the World Bank’s Government Digital Transformation Readiness Index, moving from category “C” to category “A,” and noted that Egypt is now among the top 12 countries for cybersecurity.

 

The outsourcing sector in Egypt has also expanded, with the number of professionals providing digital services globally increasing from 90,000 to over 140,000 within two years. "The outsourcing field now covers a wide range of services—from the early call centers established 25 years ago to advanced areas like software, electronic circuit design, semiconductors, and embedded automotive software," he explained.