Arab Finance: The value of industrial production in Egypt totaled EGP 1.2 trillion in fiscal year (FY) 2022/2023, Minister of Trade and Industry Ahmed Samir announced during the inauguration of the 10th economic conference of Akhbar El Youm.

Manufacturing industries grew by 9.57% year on year (YoY) last FY, Samir noted.

He added that over 1,370 industrial land plots, equivalent to around 6 million square meters, were allocated, coupled with the allocation and operation of several industrial complexes.

Moreover, he said that the country’s non-oil exports hit $35.631 billion in 2023, while imports fell by 14% year on year to $73 billion.

In 2023, Egypt’s trade balance deficit declined by $11.158 billion in 2023 to $36.908 billion, versus $48.66 billion in 2022.

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