Egyptian food exports surge 30% in H1 ’24

Egyptian food exports have surged to a record-breaking $2.7 billion in the first five months of 2024, marking a 30 per cent increase compared to the same period in 2023, according to data from Food Export Council (FEC) on Monday.

In January, exports reached $482 million, up 31 per cent from the previous year. February saw a significant 41 per cent increase to $546 million, followed by a 34 per cent growth in March to $598 million.

April’s exports reached $532 million, marking a 34 per cent increase, while May totaled $538 million, showing an eight per cent rise.

Egyptian processed food exports to Arab nations reached $1.4 billion in the first five months of 2024, representing 52 per cent of total exports and a 30 per cent increase from the previous year.

The European Union was the second-largest importer of Egyptian food products, with $598 million worth of goods, representing 22 per cent of total exports. Non-Arab African countries purchased $191 million, and the US imported $129 million.

The remaining international groups accounted for 14 per cent of total exports, valued at $370 million.

Saudi Arabia was the top destination for Egyptian food exports, totaling $205 million and growing by 13 per cent. Sudan followed closely with a 70 per cent increase, reaching $176 million.

Other notable destinations were Palestine with 50 per cent growth or $156 million, Libya recorded 20 per cent rise about $129 million, and the US reached 28 per cent surge $129 million.

Spain, the Netherlands, Morocco, Algeria, Somalia, and Brazil also witnessed significant growth in their imports of Egyptian food products.

Attribution: Food Export Council statement