There is no doubt that we have become in a bad need to a fast way to increase our exports and decline imports. According to 2019 statistics, we have noted the notifying improvement in the economy indicators such as inflation rate, unemployment rate which has decreased from 10.6% 2018 to 8.1% 2019 in addition to increasing in GDP as the growth rate has reached almost to 5.5% and this rate is considered un preceded rate since years, so this improvements in economy has been reflected on exports sector which has been represented in increasing exports amounts recently. So, we will review some details about the Egyptian exported products worldwide and their shares in the world market.
Egypt’s top10 exports worldwide
The following export product groups represent the highest dollar value in Egyptian global shipments during 2018. Also shown is the percentage share each export category represents in terms of overall exports from Egypt as following;
-Mineral fuels including oil: US$7.2 billion (24.5% of total exports)
-Plastics, plastic articles: $1.8 billion (6.1%)
-Electrical machinery, equipment: $1.6 billion (5.3%)
-Gems, precious metals: $1.5 billion (5%)
-Fruits, nuts: $1.4 billion (4.8%)
-Fertilizers: $1.4 billion (4.7%)
-Clothing, accessories (not knit or crochet): $1.1 billion (3.6%)
-Iron, steel: $1 billion (3.6%)
-Vegetables: $911.4 million (3.1%)
-Aluminum: $673.6 million (2.3%)
Egypt’s top 10 exports accounted for 63% of the overall value of its global shipments.
Mineral fuels including oil was the fastest-growing among the top 10 export categories, up by 42.2% year over year since 2017 led by refined petroleum oils.
In second place for improving export sales was aluminum which was up by 39.8%.
Egypt‘s shipments of fertilizers posted the third-fastest gain in value rising 31.8% year over year.
The leading decliner among the top 10 Egyptian export categories was gems, precious metals which fell -31%, weighed down by shrinking international sales of gold.
Egypt’s exports shares worldwide
Egypt shipped US$29.4 billion worth of goods around the globe in 2018. That dollar amount reflects a 9.6% gain since 2014 and a 13.3% uptick from 2017 to 2018.
From a continental perspective, $12 billion or 40.8% of Egyptian exports by value were delivered to Asian countries while a third (33.4%) were sold to importers in Europe. Egypt shipped another 16.2% worth of goods to Africa with 6.3% going to North America. Smaller percentages went to Latin America (1.4%) excluding Mexico but including the Caribbean, then Oceania (0.1%) led by Australia.
Given Egypt’s population of 99.4 million people, its total $29.4 billion in 2018 exports translates to roughly $300 for every resident in the transcontinental nation.
In macroeconomic terms, Egypt’s total exported goods represent 2.3% of its overall Gross Domestic Product for 2018 ($1.296 trillion valued in Purchasing Power Parity US dollars). That 2.3% for exports to overall GDP in PPP for 2018 compares to 1.8% for 2014, seeming to indicate a relatively decreasing reliance on products sold on international markets for Egypt’s total economic performance.
While this article focuses on exported goods, it is interesting to note that Egypt also provided $23.6 billion worth of exports-related services to global customers that represents 1.8% of GDP in PPP.
