CAIRO, 7 October – Egypt’s food industry exports to Saudi Arabia surged by 24% year-on-year (YoY) to $260 million during the first eight months (8M) of 2022, the Food Export Council (FEC) reported.
The Kingdom topped countries importing food supplies from the Arab Republic in 2021 with a value of $305 million, which accounted for 7.50% of the $4.10 billion total value of Egyptian food exports.
During the January-May 2022 period, Saudi Arabia imported Egyptian food products worth $158 million.
The Central Agency for Public Mobilization and Statistics (CAPMAS) recently showed that the bilateral trade value between Egypt and Saudi Arabia reached $9.10 billion in 2021, an annual hike of 62.10% from $5.60 billion.
Egypt generated nearly $2 billion in merchandise exports to Saudi Arabia last year, which made the Kingdom the second largest market importing Egyptian goods in 2021.
The FEC noted that a promotional delegation is scheduled to head to Saudi Arabia during 18-24 December 2022, where about 50 Egyptian companies will participate in bilateral meetings in the cities of Riyadh, Jeddah, and Mecca. — Mubasher