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Exports of the building materials industry of Egypt reached nearly US$6.9 billion in 2022, up from US$6.5 billion in 2021. This was revealed by Ahmed Samir, Minister of Trade and Industry, on the sidelines of the Egypt Projects and Windorex exhibition.
Exports of the building materials industry of Egypt reached nearly US$6.9 billion in 2022, up from US$6.5 billion in 2021. This was revealed by Ahmed Samir, Minister of Trade and Industry, on the sidelines of the Egypt Projects and Windorex exhibition.
Egypt’s exports of building materials increased 7.1 percent year on year (YoY) in 2022, as the country’s real estate and hospitality industries are expected to experience growth, boosted by a revived privatization program and a weaker currency.
A report revealed that 4,000 residential units were added during the January-March period, bringing the total stock to 249,000, with an additional 29,000 new units expected by the end of the year increasing construction activities in Egypt. However, project delays and fewer launches may occur due to hikes in construction costs.
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Recently, Fitch Solutions predicted that the Egyptian construction industry would grow by 6.8 percent YoY, followed by average annual growth of 7.4 percent between 2024 and 2027. Standard & Poor also reported about the buoyancy of the construction sector recently in one of its reports.
