EU delegation to Egypt: Key Trade and Economic Developments in Egypt 1 October – 8 November 2021
Trade and Investment Developments:
Egypt’s government announced the establishment of a new committee on import substitution and development of domestic manufacturing. The committee shall propose steps to encourage industrial investments in the sectors specified by the Ministry of Trade and Industry where domestic manufacturing is the most lacking. The strategy will be prepared with input from the private sector. The committee, headed by the Minister of Trade and Industry, will provide quarterly reports on its activities to the Prime Minister.
Key Trade and Economic Developments in Egypt July – September 2021:
During the first half of 2021 (1H2021), EU-Egypt trade increased by 18% compared to the same period of last year, with a pretty similar growth for both, EU exports to Egypt (+19%) and Egypt’s exports to the EU (+18%).
According to the statement of Egypt’s Trade Minister, in 1H2021 the country’s total non-oil exports augmented by 23% y-o-y reaching USD 15.4 bn, compared to USD 12.5 bn in 1H2020. Over the same period, non-oil imports rose by 11%, from USD 32.9 bn in 1H2020 to USD 36.6 bn in 1H2021.