Egypt's agricultural exports hit fresh record high
The agriculture sector is one of the target sectors to attract more foreign direct investment (FDI), according to Fitch Solutions.
The Egyptian government is taking serious steps to curb inflation, increase local production and exports, reduce reliance on imports, and bolster both foreign investment and foreign exchange reserves, it added on its official website.
This came in a repot compiled by the Information and Decision Support Center (IDSC), during which it tackled international reports which cast a spot light on Egypt's affairs.
As per the report, Egypt's agricultural exports exceeded 6.3 million tons in 2022, making a fresh record high, with an increase of more than 624,000 tons from 2021, according to a statement of Egypt's Agriculture and Reclamation Ministry on December 31 2022.
In 2022, Egypt opened 16 new markets for its agricultural products to help raise exports.