{"id":555868,"date":"2021-11-30T04:02:28","date_gmt":"2021-11-30T04:02:28","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/govt-wants-to-raise-africa-exports-to-usd-7-bn-in-2022\/"},"modified":"2021-11-30T04:02:28","modified_gmt":"2021-11-30T04:02:28","slug":"govt-wants-to-raise-africa-exports-to-usd-7-bn-in-2022","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/govt-wants-to-raise-africa-exports-to-usd-7-bn-in-2022\/","title":{"rendered":"Gov\u2019t wants to raise Africa exports to USD 7 bn in 2022"},"content":{"rendered":"

<\/a> More African exports ahead: <\/strong>The government wants to increase the value of exports to Africa to USD 7 bn in 2022 as part of a broader plan to boost trade with the continent, cabinet said in a statement<\/a> yesterday.<\/p>\n

The master plan:<\/strong> The three-phase strategy aims to boost our exports to Africa to USD 10 bn by the middle of the decade. The government is trying to hit USD 7 bn within the first phase, which will start in January 2022 and target 10 countries.<\/p>\n

They\u2019re going to have their work cut out, as exports to sub-Saharan Africa are seriously lagging: <\/strong>During the last fiscal year, Egypt exported only USD 606.6 mn of goods to Africa (excluding Arab countries), totalling just USD 607 mn and accounting for only 2.1% of our total exports<\/sup>, according to Central Bank of Egypt data. Arab countries bought c. USD 6.7 bn worth of goods and services, or about a quarter of our total exports.<\/p>\n

That\u2019s not to take away from the impressive export growth seen during the cov<\/strong><\/sup>id recovery:<\/strong> Exports hit a near-13-year high<\/sup> in the final quarter of the state\u2019s 2020-2021 fiscal year, reaching more than USD 8.1 bn during the three-month period ending June 2021, central bank data shows. After falling by almost a quarter<\/sup> in 2H2019-2020 due mainly to the covid-induced turmoil in the energy markets<\/sup>, exports expanded by almost 50% <\/sup>by the end of 2020-2021.<\/p>\n

The breakdown: <\/strong>Finished goods made up the biggest percentage of global exports last year, valued at USD 11.3 bn, with fertilizers, clothing and household electrical appliances accounting for a quarter of this. Petroleum exports came in second at USD 8.8 bn.<\/p>\n

Increasing exports is one of the key targets of the government\u2019s <\/strong>new structural reform program<\/a><\/strong>.<\/strong> The government hopes that the new round of reforms designed to ramp up in manufacturing, telecoms and IT, and agricultural exports, as well as a new export subsidy program, will eventually raise exports to USD 100 bn a year<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

More African exports ahead: The government wants to increase the value of exports to Africa to USD 7 bn in 2022 as part of a broader plan to boost trade with the continent, cabinet said in a statement yesterday. The master plan: The three-phase strategy aims to boost our exports to Africa to USD 10 […]<\/p>\n","protected":false},"author":1,"featured_media":555869,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8516],"tags":[7098,104,72,132],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade","tag-africa","tag-economy","tag-enterpriseam","tag-trade","wpautop","entry"],"acf":{"mongo_id":"b85ff92f-1f06-44c0-9ee2-ced557fb28ac","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/11\/651.jpg","photo_position":"above","related_issue":[555860],"teaser":"","voice_url":""},"yoast_head":"\nGov\u2019t wants to raise Africa exports to USD 7 bn in 2022 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/govt-wants-to-raise-africa-exports-to-usd-7-bn-in-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t wants to raise Africa exports to USD 7 bn in 2022\" \/>\n<meta property=\"og:description\" content=\"More African exports ahead: The government wants to increase the value of exports to Africa to USD 7 bn in 2022 as part of a broader plan to boost trade with the continent, cabinet said in a statement yesterday. 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Government efforts to support exporters with subsidies and pay off arrears, restructure export councils, and bilateral and multilateral trade\u2026","rel":"","context":"In "Trade"","block_context":{"text":"Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/245.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596742,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/07\/egypts-exports-into-africa-climb-26-9-y-o-y-to-usd-4-7-bn-in-2018\/","url_meta":{"origin":555868,"position":2},"title":"Egypt\u2019s exports into Africa climb 26.9% y-o-y to USD 4.7 bn in 2018","author":"enterpriseam admin","date":"7 July 2019","format":false,"excerpt":"Egypt\u2019s exports to the rest of Africa climbed 26.9% y-o-y to USD 4.7 bn in 2018, up from USD 3.7 bn in 2018, according to CAPMAS figures cited by Al Masry Al Youm. North Africa and Sudan accounted for the lion's share of exports into the continent. Egypt\u2019s imports from\u2026","rel":"","context":"In "Diplomacy + Foreign Trade"","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":563809,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/non-oil-exports-jump-by-23-in-1h2021\/","url_meta":{"origin":555868,"position":3},"title":"Non-oil exports jump by 23% in 1H2021","author":"enterpriseam admin","date":"25 July 2021","format":false,"excerpt":"Non-oil exports increased by 23% y-o-y in 1H2021, reaching USD 15.4 bn compared to USD 12.5 bn in 1H2020, Trade and Industry Minister Nevine Gamea said in a statement.Exports doubled in 2Q2021? Central bank figures released last month showed non-oil exports rose to USD 5.3 bn in 1Q2021. Accounting for\u2026","rel":"","context":"In "Trade"","block_context":{"text":"Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/231.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563874,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/27\/food-exports-rise-in-1h2021\/","url_meta":{"origin":555868,"position":4},"title":"Food exports rise in 1H2021","author":"enterpriseam admin","date":"27 July 2021","format":false,"excerpt":"The value of Egypt\u2019s food exports\u2019 increased 13% y-o-y during 1H2021, reaching USD 2 bn against USD 1.8 bn in the same period last year, according to figures released by the Food Export Council yesterday. Food accounted for 13% of the country\u2019s non-oil exports during the six-month period, which saw\u2026","rel":"","context":"In "Trade"","block_context":{"text":"Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/264.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578113,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/15\/the-us-africa-summit-was-the-top-story-on-a-quiet-night-on-the-airwaves\/","url_meta":{"origin":555868,"position":5},"title":"The US-Africa summit was the top story on a quiet night on the airwaves","author":"enterpriseam admin","date":"15 December 2022","format":false,"excerpt":"It was once again a slow night for talk shows as we come closer to a wrap up of 2022, with coverage focused mostly on President Abdel Fattah El Sisi\u2019s participation at the US-Africa summit in Washington, the Public Shops Law, and efforts to boost the country\u2019s exports.A GERD-focused meeting\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/328.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=555868"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555868\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/555860"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/555869"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=555868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=555868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=555868"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=555868"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=555868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}