File Photo: Packs of bottles of juice during their final form in the factory, Photo courtesy of Juhayna Website. AFPRelated This growth exceeds the $6 billion target announced by FEC in September 2024, highlighting the sector’s continued growth.Bazan also emphasized that this achievement underscores Egyptian food products’ growing competitiveness in global markets, bolstered by government efforts to promote non-oil exports.Arab countries were the largest recipients, accounting for 54 percent, of total Egyptian food exports.The European Union (EU) came second with 19 percent, while non-Arab African nations imported eight percent.Other international markets received 14 percent of Egyptian exports, and the United States imported five percent. Saudi Arabia was the top importer of Egyptian food products, with $491 million in imports, followed by Sudan, with $412 million.Libya ranked third with $333 million, followed by the United States with $330 million.Meanwhile, the United Arab Emirates ranked 10th, with $195 million worth of food products.Soft drink concentrates, flour and semolina, sugar, and frozen strawberries were the most exported commodities, valued at $532 million, $464 million, $704 million, and $381 million, respectively. Egypt’s food industry exports grew steadily throughout 2024, totalling $4.6 billion from January to November. This reflects an 18 percent increase from the $3.9 billion in the same period of 2023.According to a statement, Egypt’s total processed food exports amounted to $41.1 billion from 2014 to 2024.The FEC targets a compound annual growth rate of 15 percent, with long-term export projections reaching $7.7 billion by 2027.According to the Industrial Modernization Centre (IMC), investments in Egypt’s food industry are estimated at EGP 500 billion.The IMC also noted that the food industry contributes 24.5 percent to the country’s GDP and provides 23.3 percent of workforce opportunities, generating approximately seven million jobs.Short link:
Lun. Feb 3rd, 2025
