{"id":618590,"date":"2024-04-16T00:00:00","date_gmt":"2024-04-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/16\/this-evening-egypts-exports-grew-5-3-y-o-y-in-1q-2024\/"},"modified":"2024-04-16T00:00:00","modified_gmt":"2024-04-16T00:00:00","slug":"this-evening-egypts-exports-grew-5-3-y-o-y-in-1q-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/16\/this-evening-egypts-exports-grew-5-3-y-o-y-in-1q-2024\/","title":{"rendered":"THIS EVENING: Egypt\u2019s exports grew 5.3% y-o-y in 1Q 2024"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good afternoon folks, and happy hump day. <\/strong>We are at the midpoint of the week and can\u2019t decide if we should keep that jacket on or embrace the heat. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt\u2019s exports rise in 1Q 2024: <\/strong>Egypt\u2019s exports grew 5.3% y-o-y in the first three months of the year to total USD 9.6 bn, up from USD 9.1 bn a year before, according to data from the <a target=\"_blank\" href=\"https:\/\/www.goeic.gov.eg\/ar\/media-center\/news\/1243\" style=\"\" rel=\"noopener\">General Authority for Export and Import Control<\/a>. The government\u2019s six-year strategy dubbed EgyExTriple 10 aims to increase exports to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bb2295d9-243b-41f0-b526-ad5c1d44c997\/el-sisi%25e2%2580%2599s-third-term-comes-bearing-major-export-and-transport-targets\" style=\"\" rel=\"noopener\">USD 145 bn by 2030<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Behind the data: <\/strong>Turkey topped the list of importers of Egyptian commodities in 1Q 2024, importing some USD 874 mn in goods, followed by Saudi Arabia, the UAE, Italy and USA. Meanwhile building materials were the most in-demand export in 1Q 24, accounting for 20% of Egypt\u2019s total exports followed by food industries, chemical products and fertilizers and agricultural crops.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tension around Israel\u2019s reaction to Iran\u2019s attack on Saturday continues to dominate the <\/strong><strong>headlines today,<\/strong> on the back of the Israeli war cabinet not reaching a decision after holding two meetings to discuss a response. Potential escalation has put Jordan on edge, whose airspace separates the two states. US President Joe Biden has urged Israeli PM Benjamin Netenyahu to contain the situation, emphasizing that the US would not partake in an Israeli counter-attack. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/iaea-chief-worried-israel-could-strike-iran-nuclear-facilities-2024-04-15\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-04-16\/iran-attack-on-israel-growing-conflict-puts-us-ally-jordan-on-edge?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/04\/16\/world\/middleeast\/israel-iran-allies.html\" style=\"\" rel=\"noopener\">NYT<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/04\/16\/israels-war-cabinet-is-locked-between-restraint-and-revenge.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>World Bank downgrades growth outlook for the current fiscal year yet again: <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b9e5252-4c7e-4b34-808c-fb4aa5ef7989\" style=\"\" rel=\"noopener\">The international lender has penciled in growth<\/a> slowing to 2.8% in the state\u2019s FY 2023-24 \u2014 a 0.7 percentage point drop from its previous forecast in January and a whole 1.0 percentage point drop from the previous fiscal year.<\/li>\n<li><strong>Egypt\u2019s current account position has weakened over 441% y-o-y to USD 9.6 bn in 1H <\/strong><strong>FY2023-24<\/strong><strong>,<\/strong> from USD 1.8 bn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53c565b2-0090-4b6c-a572-1262e302b3aa\" style=\"\" rel=\"noopener\">recorded the same period last year<\/a>.<\/li>\n<li><strong>Qalaa offloads 18% of its stake in Taqa Arabia in debt settlement agreement:<\/strong> Qalaa Holdings has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bcf5cb2f-3ac0-44bc-acfc-663be1713a73\" style=\"\" rel=\"noopener\">signed a debt settlement agreement<\/a> with a number of banks to settle the entirety of its EGP 4.5 bn debt in exchange for a 17.68% stake \u2014 239 mn shares \u2014 in Taqa Arabia and a land plot overlooking the Nile.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2600\ufe0f <\/strong><strong>TOMORROW\u2019S<\/strong><strong> WEATHER-<\/strong> The heat is on tomorrow, with the mercury climbing to 37\u00b0C and cooling down to 18\u00b0C later on, according to our favorite weather app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dusty <\/strong><strong>weather ahead? <\/strong>For our friends with allergies, take caution as there is the possibility of high winds that can cause sandstorms tomorrow and hinder vision, according to the <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/ema.gov.eg\" style=\"\" rel=\"noopener\">Egyptian Meteorological Authority<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon folks, and happy hump day. We are at the midpoint of the week and can\u2019t decide if we should keep that jacket on or embrace the heat. THE BIG STORY TODAY Egypt\u2019s exports rise in 1Q 2024: Egypt\u2019s exports grew 5.3% y-o-y in the first three months of the year to total USD [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":618591,"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":[7213],"tags":[633,8521,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-618590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-exports","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"a3b93027-5b52-4c93-8811-312b1b798082","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/1\/370.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[618588],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.0e12805c-d1f0-4c20-846e-3b1ba6259892.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS EVENING: Egypt\u2019s exports grew 5.3% y-o-y in 1Q 2024 - 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\/2024\/04\/16\/this-evening-egypts-exports-grew-5-3-y-o-y-in-1q-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: Egypt\u2019s exports grew 5.3% y-o-y in 1Q 2024\" \/>\n<meta property=\"og:description\" content=\"Good afternoon folks, and happy hump day. We are at the midpoint of the week and can\u2019t decide if we should keep that jacket on or embrace the heat. 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We are at the midpoint of the week and can\u2019t decide if we should keep that jacket on or embrace the heat. THE BIG STORY TODAY Egypt\u2019s exports rise in 1Q 2024: Egypt\u2019s exports grew 5.3% y-o-y in the first three months of the year to total USD [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/16\/this-evening-egypts-exports-grew-5-3-y-o-y-in-1q-2024\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2024-04-16T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/370.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/16\/this-evening-egypts-exports-grew-5-3-y-o-y-in-1q-2024\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/16\/this-evening-egypts-exports-grew-5-3-y-o-y-in-1q-2024\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"THIS EVENING: Egypt\u2019s exports grew 5.3% y-o-y in 1Q 2024","datePublished":"2024-04-16T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/16\/this-evening-egypts-exports-grew-5-3-y-o-y-in-1q-2024\/"},"wordCount":458,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/16\/this-evening-egypts-exports-grew-5-3-y-o-y-in-1q-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/370.jpg?fit=%2C&ssl=1","keywords":["EnterprisePM","exports","WHAT WE\u2019RE TRACKING TONIGHT"],"articleSection":["WHAT WE\u2019RE TRACKING TONIGHT"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/16\/this-evening-egypts-exports-grew-5-3-y-o-y-in-1q-2024\/","url":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/16\/this-evening-egypts-exports-grew-5-3-y-o-y-in-1q-2024\/","name":"THIS EVENING: Egypt\u2019s exports grew 5.3% y-o-y in 1Q 2024 - 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Egypt expects the end-of-year total to reach USD 25 bn, Minister Amr Nassar said. Agriculture exports also increased 4.5% last year\u2026","rel":"","context":"In &quot;Other Business News of Note&quot;","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571105,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/29\/egypts-garments-exports-fall-in-1q-to-usd-372-mn\/","url_meta":{"origin":618590,"position":2},"title":"Egypt\u2019s garments exports fall in 1Q to USD 372 mn","author":"enterpriseam admin","date":"29 April 2020","format":false,"excerpt":"Egypt's garments exports dipped 8% y-o-y in 1Q2020 to USD 372 mn, according to a Textiles Export Council report picked up by Mubasher. Despite the decline, the US remained Egypt's top export market, accounting alone for USD 206 mn-worth of imports. Germany and Spain follow in the second and third\u2026","rel":"","context":"In &quot;Diplomacy + Foreign Trade&quot;","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":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":618590,"position":3},"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 &quot;Diplomacy + Foreign Trade&quot;","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":579369,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/05\/current-account-deficit-narrows-20-in-1q-2022-23\/","url_meta":{"origin":618590,"position":4},"title":"Current account deficit narrows 20% in 1Q 2022-23","author":"enterpriseam admin","date":"5 February 2023","format":false,"excerpt":"Higher FDI, exports and tourism revenues are easing balance of payments pressures.","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/68.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":626422,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/02\/egypt-bop-nets-usd-11-0-bn-surplus-cbe\/","url_meta":{"origin":618590,"position":5},"title":"Egypt BoP nets USD 11.0 bn surplus -CBE","author":"enterpriseam admin","date":"2 July 2018","format":false,"excerpt":"Egypt\u2019s current account deficit fell 57.5% y-o-y to USD 5.3 bn in 9M2017-18, down from USD 12.5 bn in the same period last year. \u201cThis improvement was an outcome of the increase in both services balances surplus by 138.2% and net current transfers by 23.2%, [as well as a] retreat\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/618590","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=618590"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/618590\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/618588"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/618591"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=618590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=618590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=618590"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=618590"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=618590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}