Arab Finance: Egypt’s food industry exports from January to October reached $5.1 billion, as per a statement from the Food Export Council on December 4th.

This figure not only represents an 18% growth compared to the $4.3 billion recorded in the same period in 2023 but also exceeds the total exports for all of 2023, which stood at $5.068 billion, by more than $30 million.

The increase of $770 million in the first 10 months of 2023 reflects the highest growth rate and export value in the sector’s history.

Arab countries emerged as the largest importing market, with $2.675 billion worth of imports, accounting for 53% of Egypt’s total food industry exports, with a 14% year-on-year (YoY) increase.

The European Union (EU) followed, importing $1.023 billion worth of goods, marking a 38% YoY rise and 20% of the total share.

Non-Arab African countries saw an 11% growth, with exports valued at $425 million, representing 8% of the total.

Exports to the US were at $277 million, growing by 38% YoY and comprising 5% of total food industry exports.

Other markets accounted for $698 million, or 14% of total exports, with an 8% growth rate.

Saudi Arabia led the list of top importers, purchasing $393 million of Egyptian food industry products, reflecting a 16% increase.

Sudan ranked second with $341 million, despite a 21% decline, while the US ranked third with $277 million in imports, reflecting a 38% growth.

Libya followed with imports of $264 million and a 21% growth rate, and Palestine imported $261 million, reflecting a 24% increase.

Moreover, the Netherlands saw imports worth $228 million and recorded the highest growth rate at 106%.

Meanwhile, Jordan imported $198 million, achieving a 25% growth rate, followed by Morocco with imports worth $171 million and a 77% YoY increase. 

Soft drink concentrates led Egypt’s top exported products, with exports worth $463 million, reflecting an 8% increase.

Flour exports followed with $401 million, growing by 5%, while frozen strawberries were the third-largest export, valued at $353 million, seeing a 15% growth rate.

On the other hand, sugar exports fell by 19%, valuing at $339 million. However, frozen vegetable exports rose by 27%, recording $214 million.

Between 2014 and October 2024, Egypt’s food industry exports amounted to $40.1 billion.

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