Egyptian chemical exports soar in first half of 2024, total 4 billion billion dollars

Recently, according to data released by the Chemical and Fertilizer Export Council (CEC), Egypt's chemical exports achieved significant growth in the first half of 2024, reaching a total of 4 billion billion US dollars. This data not only strengthens Egypt's position as the second largest contributor to the country's total non-oil exports, but also highlights the competitiveness of the country's chemical industry in the global market.

Citing data from Egypt's General Organization for Import and Export Control as of June 2024, CEC Chairman Khaled Abu Al-Makarem noted that chemical exports accounted for 20 percent of Egypt's total non-oil exports. This ratio shows the importance of the chemicals industry in the Egyptian national economy.

In the first half of 2024, Egypt saw significant growth in several chemical industries. Among them, exports of plastic products increased by 2%, petrochemical products increased by 7%, detergent exports increased by 21%, ink and paint exports increased by 8%, and rubber exports also increased by 16%. Compared with the same period last year, other chemical products overall achieved an increase of 3%. These growth figures show that the chemical industry in Egypt is booming and has great market potential.

One of the factors driving the growth of Egypt's chemical exports is strong demand from different markets. According to the data, Turkey is the main importer of Egyptian chemicals, with imports reaching US $0.59594 billion billion. It was followed by Italy with imports of $0.36895 billion. Spain, Saudi Arabia, France and Brazil were also among the top importers of Egyptian chemicals, with imports of $0.22187 billion, $0.21072 billion, $0.20606 billion and $0.15859 billion, respectively. Imports from the top 10 importers totaled $2.241 billion billion, accounting for 58 percent of Egypt's total global chemical exports.

Abu Al-Makarem, chairman of the CEC, said that the diversity of markets and importing countries is the result of the diversification of products in Egypt's chemical industry. He noted that the strong performance of the chemical industry reflects the success of the Egyptian government's strategy to support and develop the industry and enhance its competitiveness in the global market. At the same time, this growth also demonstrates the industry's ability to respond to global challenges and adapt to economic changes.

CEC Executive Director Mohamed Mageed highlighted the role of quality products in driving demand. He said that the diversity and high quality of Egyptian chemical products has led to an increase in demand for them in the global market. In order to further enhance the export of the Egyptian chemical industry and its contribution to the national economy, the CEC has been working to provide the necessary support to companies operating in the sector and to encourage investment in the sector. Through these measures, Egypt is expected to maintain its leading position in the global chemical market in the future.