Cairo – Mubasher: Investments in the Egyptian food industries sector have reached EGP 500 billion, making up 24.5% of the country’s gross domestic product (GDP), the Minister of Trade and Industry, Nevine Gamea, revealed.
The sector has created about 23.2% of overall jobs in the country, Gamea said in an event on Sunday.
Food industries is the second largest sector in the most populous Arab nation in terms of added value and the first one in terms of industrial labour, recording an average growth rate of 20% between 2015 and 2020.
In 2020, the value of food and agricultural exports reached $5.7 billion, making up 22% of Egypt’s total exports.
The ministry’s plan to increase annual exports to $100 billion is contingent on recording a leap in the food and agricultural exports, she noted.
