According to a statement released by the Food Export Council on December 4th, Egypt’s food industry exports for the period of January to October reached a staggering $5.1 billion. This figure not only represents a significant 18% increase compared to the $4.3 billion recorded in the same period in 2023, but it also surpasses the total exports for the entire year of 2023, which stood at $5.068 billion, by more than $30 million. This remarkable growth of $770 million in the first 10 months of 2023 marks the highest growth rate and export value in the history of the sector.
The largest importing market for Egypt’s food industry products was the Arab countries, with imports worth $2.675 billion, accounting for 53% of the total exports. This represents a 14% year-on-year (YoY) increase. The European Union (EU) followed closely behind, importing $1.023 billion worth of goods, marking a significant 38% YoY rise and comprising 20% of the total share. Non-Arab African countries also saw a notable 11% growth, with exports valued at $425 million, representing 8% of the total. Exports to the US were at $277 million, growing by an impressive 38% YoY and making up 5% of the total food industry exports. Other markets accounted for $698 million, or 14% of total exports, with an 8% growth rate.
Among the top importers, Saudi Arabia led the list with purchases of $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.
In terms of specific products, soft drink concentrates were the 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 a staggering $40.1 billion. This impressive figure highlights the significant growth and potential of the sector, making it a crucial contributor to the country’s economy. With the continuous increase in exports and the diversification of markets, the future looks promising for Egypt’s food industry.