Egypt’s food sector saw significant growth from January to November 2024, with exports reaching around $5.5 billion. This marks a 17 percent rise compared to the $4.7 billion noted during the same period in 2023, equating to an increase of $813 million.
This achievement signifies the highest export value and growth rate ever observed during this timeframe, surpassing the total exports for the entirety of 2023, which were recorded at $5.068 billion, reflecting an increase of $474 million.
Read more: Egypt receives first $1.03 billion EU funding installment
In a recent statement, the Export Council for Food Industries highlighted that Arab nations continued to be Egypt’s largest export market, accounting for $2.936 billion, or 53 percent of total food exports, with a 15 percent increase in value. The European Union followed closely, contributing $1.083 billion, which represents 20 percent of total exports and a growth rate of 33 percent.
Non-Arab African countries added $464 million to the total, making up 8 percent of exports and experiencing a growth of 7 percent. The United States recorded $302 million in food exports, representing 5 percent of the overall total and achieving a notable 40 percent growth rate.
Additionally, other global markets contributed $756 million, which accounts for 14 percent of total exports, showing an 8 percent growth rate.
