Egypt’s medical supplies, medicines surge 14% in 1H 2023

Egypt’s medical exports increased by 14% to approximately $530m in the first half (1H) of 2023, compared to $467m in the same period last year, Chairperson of Egypt’s Export Council for Medical Industries (ECMI) Maged George announced on Saturday.

George said that the Council seeks to increasemedical exports by 30% annually, in accordance with the Egyptian state’s plans to grow total exports to $100bn.

He praised the cabinet’s vision to increase Egyptian commodity exports by at least 20% annually to support foreign currency resources, highlighted that the  Council focuses on achieving annual targets to increase exports by no less than 30% y-o-y, which supports the government’s direction towards developing exports and contributing to solving shortage of foreign currency supply.

George noted that the medical sector’s exports witnessed a great development during the past three years, achieving an increase of 200% compared to 2019 exports before the COVID-19 fallout, indicating that the growing demand for the sector’s products during COVID-19 clearly contributed to the increase in exports.