Egypt's merchandise exports grow 10% in first 5 months of 2024

Egypt's non-oil exports reached US$16.5 billion from January to May 2024, compared to US$15.4 billion in the same period of 2023, Minister of Trade and Industry Ahmed Samir said. This is reported by Ahram Online. 

The minister said Egyptian exports increased to US$3.5 billion in May, marking the country's highest exports in a single month. According to Samir, Saudi Arabia, Turkey and the UAE were the largest importers of Egyptian products.

Earlier, Egyptian Finance Minister Mohamed Maait announced plans to pay 360 companies export subsidies totalling 10 billion Egyptian pounds (US$209 million). The initiative aims to help businesses in the country address both external and internal challenges by introducing additional liquidity, thereby expanding the production capabilities of enterprises.

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