Egypt's exports to Africa expected to increase by 10% by end-2023

Egyptian exports to African nations are likely to see a hike of 10% to hit $5.5 billion by the end of 2023, Ahram Online reported, citing Chairman of the Egyptian Chamber of Chemical Industries at the Federation of Egyptian Industries (FEI) Sherif El-Gabaly.

El-Gabaly underlined the value of developing closer relationships with African nations, stressing their potential as lucrative markets that serve an astounding 1.5 billion people.

Trade exchange between Egypt and African countries rose by 1.2%, reaching $5.82 billion during the first eight months of 2023, from $5.75 billion during the same period in 2022.

In 2022, trade exchange between Egypt and African countries grew by 14.4% in 2022 to $8.6 billion, versus $7.5 billion in 2021, as per data from the Egyptian Cabinet’s Information and Decision Support Center (IDSC).

Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).