In a move to boost its revenue and intra- African trade, data has shown that Egypt’s exports to african countries in 2023, accounted for a $7.4 billion. The research Centre, CAPMAS unveiled this on Wednesday.
While pundits advocate for increased trade across African countries, data from the Central Agency for Public Mobilization and Statistics (CAPMAS) has monitored the development of Egyptian exports to African Union countries, unveiling it achieved a significant increase in 2023.
The total value of Egyptian exports to African Union member states recorded about $7.4 billion in 2023, compared to $6.4 billion in 2022, as the highest values were concentrated in five countries, accounting for 65.5 percent of Egypt’s total exports to African countries.
The data showed that countries like Libya, Sudan , Algeria, Morocco were at the top with Kenya accounting for 4.4 percent with $327 million.
In contrast, the value of total imports from African Union countries amounted to $1.8 billion in 2023, compared to $2.3 billion in 2022, a decrease of 21.7 percent. Understanding the data, Egypt imports from highest to lowest from the Democratic Republic of Congo, Sudan, Kenya, Zambia and South Africa.
This only showed there is a need to fully implement the AfCFTA, and boost Intra African trade across the continent.
