Egypt’s 2021 exports register record high

24 March 2021, Egypt, Suez: A ship sails along the waterway of the Suez Canal after the resumption of the navigation traffic following the partial refloating of the "Ever Given", a container ship operated by the Evergreen Marine Corporation. The state-run Suez Canal Authority (SCA) reported that eight tugboats are trying to shift the Panamanian supertanker after it ran aground in the southern end of the Suez Canal and blocked the traffic in both directions. The ship turned sideways in the Canal, while on route from China to Rotterdam, due to reduced visibility that resulted from a dust storm hitting the area, according to SCA. Photo: Ahmed Shaker/dpa (Photo by Ahmed Shaker/picture alliance via Getty Images)
A cargo ship sails along the waterway of Egypt’s Suez Canal. The value of the country’s exports hit a record high in 2021. (Photo by Ahmed Shaker/picture alliance via Getty Images)

Egypt’s exports in 2021 registered a record high of about 31 billion US dollars, Egyptian Prime Minister Mostafa Madbouli announced on Sunday.

During a ministerial meeting, Madbouli said the government introduced a refund program to ease export burdens, which contributed significantly to the growth of exports.

Madbouli said the government has been supporting domestic industries to produce high-quality Egyptian products which are globally competitive.

Egyptian Minister of Trade and Industry Nevin Gamea noted one of the reasons for the increase in Egyptian exports is the growth in global demand for goods, amid the gradual recovery from the repercussions of the COVID-19 pandemic.

Gamea said the government will continue to take steps to encourage reliance on the national industries, through coordination with the private sector, and to enhance industrial investments with specific projects aimed at covering part of the import gaps.