The value of Egyptian exports rose by the end of last year to about $38 billion, with a growth rate of 6 percent, compared to 2022. The growth rate is much lower than the growth rate in 2022 over the previous year, which amounted to 15 percent.
The currency scarcity crisis remains one of the most important challenges facing the Egyptian economy, and is at the top of the concerns of the industrial sector, which represents about 85 percent of the value of merchandise exports, as various production units suffered from the difficulty of providing raw materials due to currency scarcity.
The modest growth of Egyptian exports last year is due to external and internal factors. Internal factors include currency scarcity and the unavailability of dollars and other foreign currencies to import components needed for manufacturing processes. As for the influential external factors, they included damage to foreign markets in the European Union and the United States from high levels of inflation, and a slowdown in demand, which made demand for Egyptian exports less.
Source (Al-Arabiya.net website, edited)
