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Egypt’s food industry contributes 15% to 2024 GDP growth, exporting $5.5 billion
From January to November 2024, Egypt's food industry achieved significant growth, with exports reaching approximately $5.5 billion.
The food industry led Egypt’s growth story in 2024, contributing 15% to its promising real GDP growth.
In a statement issued on Wednesday, the Export Council for Food Industries highlighted that Arab countries remained Egypt’s largest export market, accounting for $2.936 billion, or 53% of total food exports. The European Union followed with $1.083 billion, representing 20% of total exports, marking a notable growth rate of 33%.
Exports to non-Arab African countries reached $464 million, accounting for 8% of the total and recording a growth rate of 7%. The United States saw food exports totaling $302 million, accounting for 5% of the total and recording a growth rate of 40%. Other international markets contributed $756 million, or 14% of total exports, with a growth rate of 8%.
From January to November 2024, Egypt’s food industry achieved significant growth, with exports reaching approximately $5.5 billion. This represents a 17% increase compared to $4.7 billion during the same period in 2023, adding an extra $813 million in export value.
This performance marks the highest export value and growth rate recorded for this period. It surpasses the total exports for all of 2023, which stood at $5.068 billion, reflecting an increase of $474 million.
Over the decade from 2014 to November 2024, Egypt’s food industry exports totaled $40.5 billion, highlighting the sector’s growing importance in global markets and its key role in driving economic growth.
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