Egypt export overview
Egypt is a lower middle-income country with a populace of virtually ninety million. The economic system has been on a direction to recovery. It has become the biggest destination for all Foreign Direct Investment into Africa. Its inventory marketplace (EGX) became the high-quality performing in the world in phrases of returns.
Egypt is highly import solar panels dependent and is probable to stay so for the foreseeable future. Significant investments in ports, airports, highways and railways are deliberate which will cause more efficient movement of goods.
Many UK companies are already doing business in Egypt, along with BP, Shell, BG Group, Vodafone, Barclays, HSBC, GSK, AstraZeneca and Unilever among many others.
Strengths of the Egyptian market contain:
- strategic geographical location – with proximity to Asian, African and Europe
- Young workforce
- Suez Canal which is the hub for world maritime traffic
- Third biggest economy in Africa
- 18% of the 90 million population are under 25
- Free trade agreements and arrangements
The Most Products to Import from Egypt in 2022
- Cotton (sector expected to grow by 14% in 2021)
- Plastics (exports jumped 43% in 2021 despite pandemic)
- Jewelry (worth $887 million during the first 10 months of 2021)
- Fruits (food sector between January and November 2021 was $3.8 billion)
- Ceramics (exports hit 92 million dollars in the first 9 months of 2021)
- Essential Oils, Perfumes and Cosmetics
A slew of positive international trading company statistics has been released for 2021, showing huge demand for Egyptian merchandise worldwide. AR Company is one of the leading companies in the field of international trade, which has been working in this field since 2010 and has many commercial branches in the countries of the Arab region and the African continent, as well as East Asian countries and European Union countries.
Economic increase
Egypt has a GDP of $369 billion and Its increase fee for the primary 1/2 of 2014/15 became 4%, in comparison with 2% in 2013/14.
Egypt is looking to get its economic system again on track. Investment will end up the primary aid for increase, as subsidy reform weighs on personal and authorities spending.
Investment became strengthened with an excessive profile convention in Sharm El Sheikh in March 2015. During the convention, an anticipated USD 36 billions of personal area offers have been signed, with a similarly USD 12 billions of aid pledged by nearby allies
Egypt has deliberated funding reforms, which include:
- fuel subsidy
- the creation of a Value Added Tax (VAT) tax
- groups’ law
- simplified bankruptcy procedure
- amendments to the capital markets law
- a land management framework
- a new insurance laws
It is anticipated that among USD 200 and 300 billion really well worth of tasks are hard to clear up the country’s energy and housing shortages. This will even generate jobs for an increasing population through broader financial diversification.