Egyptian Exports Grow to $54 Bln

Trucks and containers at Egypt’s Alexandria Port (Reuters)
Trucks and containers at Egypt’s Alexandria Port (Reuters)
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Egyptian Exports Grow to $54 Bln

Trucks and containers at Egypt’s Alexandria Port (Reuters)
Trucks and containers at Egypt’s Alexandria Port (Reuters)

Egyptian Prime Minister Mostafa Madbouly said Wednesday initial figures show that Egyptian exports reached $53.8 billion in 2022, an increase of 20 percent from last year.

For his part, Egyptian Minister of Trade and Industry Ahmed Samir stated that despite the challenging global circumstances, the non-petroleum exports of Egypt registered a record total of $35.612 billion, a 12 percent increase compared to last year.

Egypt's Petroleum Minister Tarek el-Molla said that 2022 witnessed record petroleum exports of $18.2 billion. In 2021, $12.9 billion-worth exports were made compared to $7 billion in 2020.

He further noted that a quantum leap was achieved in gas exports in 2022.

The cabinet approved the initiative aimed to support the industrial and agricultural projects in the country in its weekly meeting in Cairo on Wednesday.

The government will allocate 150 billion Egyptian pounds to the five-year initiative including nearly 140 billion pounds to finance capital money and 10 billion pounds to finance the purchase of capital goods.

The amount of credit available to each company will be determined by the volume of its business and the banking rules, provided that the maximum credit limit allowed for each company does not exceed the amount of 75 million pounds.

The initiative also stipulates that each company has transactions with a maximum of two banks from those participating in the initiative.



Tunisia Gets Offers in 75,000 T Soft Wheat Tender, Traders Say

Agricultural labourers harvest the wheat crop at Chadiala village in the northern Indian state of Punjab April 10, 2008. REUTERS/Ajay Verma (INDIA)
Agricultural labourers harvest the wheat crop at Chadiala village in the northern Indian state of Punjab April 10, 2008. REUTERS/Ajay Verma (INDIA)
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Tunisia Gets Offers in 75,000 T Soft Wheat Tender, Traders Say

Agricultural labourers harvest the wheat crop at Chadiala village in the northern Indian state of Punjab April 10, 2008. REUTERS/Ajay Verma (INDIA)
Agricultural labourers harvest the wheat crop at Chadiala village in the northern Indian state of Punjab April 10, 2008. REUTERS/Ajay Verma (INDIA)

The lowest price offered in the international tender from Tunisia's state grains agency on Thursday to purchase about 75,000 metric tons of soft wheat was believed to be $262.91 a ton cost and freight (c&f) included, European traders said.

Offers are still being considered and no purchase has yet been reported. The lowest offer is not always accepted if conditions attached to it are regarded as unattractive, Reuters reported.

The lowest offer was believed to have been submitted for optional-origin wheat by trading house Cargill for 25,000 tons, they said.

Cargill also made the next lowest offer of $263.91 also for 25,000 tons, they said.

Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.

Shipment was requested between May 20 and June 30 depending on origin supplied.