Egyptian Exports to Germany Surpass One Billion Euros for the First Time Ever.

Egyptian Minister of Trade and Industry Ahmed Samir announced that the export of Egyptian goods to the German market increased by 30.8% in 2022.

Exports amounted to 1.1 billion euros, compared to about 841 million euros in 2021, he said, noting that for the first time in the history of trade relations between the two countries, Egyptian exports have overcome the one billion euro barrier.

The minister said that the volume of trade exchange between Egypt and Germany increased significantly in 2022 by 7.8%, reaching about 5.5 billion euros, compared with about 5.1 billion euros in 2021.

Minister Yehia’s Commissioner for Commerce El-Watik Billah, head of the Commercial Representation Office, said this tangible development of Egyptian exports to Germany was the culmination of efforts by the Egyptian Commercial Office in Berlin to study the German market in depth. and its contribution to meeting the needs of this important market, which confirms that Egyptian exports have a competitive advantage in international markets. Despite the current changes in the global economy and the high cost of transport and logistics services, he noted that these efforts contributed to reducing the trade deficit between two countries by 4.9% to about €3.1 billion in 2022, compared to about €3.259 billion in 2021.

Al-Watik Billah noted that the most important Egyptian exports that increased in the German market last year were potatoes, dates, dried vegetables, household items, carpets, underwear, children’s clothing, aluminum and its products, iron alloys. . , sheets and sheets of plastics, electrical wires, insulators, glass and glassware, and medical adhesives, indicating that 2022 saw an unprecedented surge in Egyptian exports, most notably of which were ferroalloys, which increased by 245%, reaching approximately 7 million euros.

The head of the Commercial Office added that Egypt’s imports from the German market in 2022 amounted to about 4.2 billion euros, compared to about 4.1 billion euros in 2021, noting that the most prominent items of Egyptian imports from the German market are electrical machinery and equipment and parts thereof, chemicals and various products, especially machinery, medical devices, automobiles and tractors.

Source: Al-Shoruk