Egyptian Exports Hit Record $40 Billion in 2024
A new export program will be introduced as part of a broader strategy to enhance Egypt’s global competitiveness.
As announced by Minister of Investment and Foreign Trade Hassan El-Khatib during a meeting with export council leaders, Egyptian exports reached a record USD 40 billion in 2024. The focus of the meeting was the implementation of a new export rebate program designed to bolster national industries and extend Egypt's reach in global markets.
Aligned with the government’s target to increase exports to USD 145 billion by 2030, the new program is part of a broader strategy to enhance Egypt’s global competitiveness and foster economic growth. To meet these objectives, export councils will identify underutilized production capacities within each industrial sector and pinpoint necessary investments to maximize their output. Additionally, this new programme is expected to complement ongoing efforts to localize technology and increase local content in manufacturing, ensuring that Egyptian products remain competitive on the global stage.
Since the launch of the Immediate Cash Payment initiative in 2019, aimed at boosting exports and driving annual growth by 15%, the government has allocated a total of EGP 66.9 billion to support exporters. For the current fiscal year, EGP 23 billion has been earmarked to sustain and expand export activities.
