{"id":324331,"date":"2021-11-30T08:54:50","date_gmt":"2021-11-30T08:54:50","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=324331"},"modified":"2022-01-02T09:03:46","modified_gmt":"2022-01-02T09:03:46","slug":"egypt-targets-7bln-exports-to-africa-in-2022","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/11\/30\/egypt-targets-7bln-exports-to-africa-in-2022\/","title":{"rendered":"Egypt targets $7bln exports to Africa in 2022"},"content":{"rendered":"
\n

The Egyptian government plans to increase the value of exports to Africa to $7 billion in 2022 as part of a broader plan to boost trade with the continent, the cabinet said in a statement.<\/p>\n

The three-phase strategy aims to boost our exports to Africa to $ 10 billion by the middle of the decade. The government is trying to hit $7 billion within the first phase, which will start in January 2022 and target 10 countries.<\/p>\n<\/div>\n

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During fiscal year (FY) 2020\/2021, Egypt exported only $606.6 million of goods to Africa (excluding Arab countries), totaling just $607 million and accounting for only 2.1% of our total exports, according to Central Bank of Egypt data.<\/p>\n

 <\/p>\n<\/div>\n

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Arab countries bought c. $6.7 billion worth of goods and services, or about a quarter of our total exports.<\/p>\n

Exports hit a near-13-year high in the final quarter of the state\u2019s FY 2020\/2021, reaching more than $8.1 billion during the three-month period ending June 2021, data showed.<\/p>\n

After falling by almost a quarter in the second half (H2) of FY 2019\/2020 due mainly to the covid-induced turmoil in the energy markets, exports expanded by almost 50% by the end of FY 2020\/2021.<\/p>\n

Finished goods made up the biggest percentage of global exports last year, valued at $11.3 billion, with fertilizers, clothing and household electrical appliances accounting for a quarter of this. Petroleum exports came in second at $8.8 billion.<\/p>\n

It is worth noting that increasing exports is one of the key targets of the government\u2019s new structural reform program.<\/p>\n

The government hopes that the new round of reforms designed to ramp up in manufacturing, telecoms and IT, and agricultural exports, as well as a new export subsidy program, will eventually raise exports to $100 billion a year.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Egyptian government plans to increase the value of exports to Africa to $7 billion in 2022 as part of a broader plan to boost trade with the continent, the cabinet said in a statement.<\/p>\n","protected":false},"author":4,"featured_media":320045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[27,33],"tags":[270],"class_list":["post-324331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-export","category-main","tag-egyptian-exports"],"yoast_head":"\nEgypt targets $7bln exports to Africa in 2022 - egy-africa<\/title>\n<meta name=\"description\" content=\"The Egyptian government plans to increase the value of exports to Africa to $7 billion in 2022 as part of a broader plan to boost trade with the continent, the cabinet said in a statement.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2021\/11\/30\/egypt-targets-7bln-exports-to-africa-in-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt targets $7bln exports to Africa in 2022 - 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