- Agricultural exports rise by $1 billion
- Citrus fruits lead export growth
- Expanding into new markets
In the first 10 months of 2024, Egypt’s agricultural exports increased by $1 billion, marking a year-on-year growth of approximately 33%. This rise is part of the government’s ongoing efforts to tap into new global markets and diversify its product offerings.
Between January 1 and October 30, Egypt exported 7.1 million tonnes of agricultural goods, totaling $4.1 billion. For the whole of 2023, which was a record year, Egypt exported 7.5 million tonnes.
Egypt’s agricultural export growth has been consistent in recent years, rising from 5.6 million tonnes in 2021 to 6.4 million tonnes in 2022. This increase has been largely driven by a surge in citrus production, especially oranges.
The Ministry of Agriculture and Land Reclamation reported that, in addition to citrus fruits, key exports in the first 10 months of 2024 included potatoes, onions, grapes, beans, mangoes, tomatoes, garlic, strawberries, guavas, and pomegranates.
Egypt has also expanded its export reach, with the number of markets increasing by nearly 60% over the past decade. The ministry recently announced that, starting November 15, Egypt will begin exporting grapes to Vietnam for the first time.
The Arab Free Trade Area remains the largest overseas market for Egyptian exports, with fruits and vegetables leading the growth in recent years. Egyptian exports to Arab nations grew by 9%, from $12.5 billion in 2022 to $13.6 billion in 2023, with fruits and vegetables accounting for $1.3 billion. Meanwhile, imports from these countries fell 27%, from $17 billion to $12.4 billion.
Saudi Arabia was the largest Arab importer of Egyptian products at $2.7 billion, followed by the UAE at $2.2 billion and Libya at $1.8 billion.
With its currency having depreciated by around two-thirds over the past three years, Egypt is looking to capitalize on this advantage to boost exports. The government aims to increase total exports to $100 billion annually by 2030. In 2023, Egypt’s total exports reached $42 billion, marking a 5.1% increase from $39.9 billion in 2022.
