Egypt's food product exports surge 31% YoY in Q1 2024
Updated 5/7/2024 2:13:00 PM
Arab Finance: Egypt's exports of food products climbed by 31% year on year (YoY) to reach an unprecedented value of $1.6 billion during the first quarter (Q1) of 2024, Asharq Business reported, citing data from the Food Export Council.
The remarkable growth marks the highest export value ever attained by the sector, signaling robust a performance and increasing global demand for Egyptian food products.
Arab countries emerged as the leading importers of Egyptian processed foods during this period, valuing at $859 million, which constitutes 55% of Egypt’s total food exports, with a significant growth of 29% YoY.
Following closely behind, the European Union’s (EU) imports from Egypt grew by 60% YoY to $113 million in Q1 2024, representing 21% of Egypt’s overall exports.
Non-Arab African countries also made substantial contributions, importing $111 million worth of Egyptian food products, which account for 7% of the total.
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