Egypt. The weakness of the currency opens potential prospects for exports

23.02.2017

Increasing demand for Egyptian agricultural products, opening up new markets and extending existing markets are the few advantages revealed by the weakness of the currency.
 
The Egyptian pound has lost about half its value by abandoning its usual course with the dollar. This currency weakness makes Egyptian products more attractive to foreign buyers. The main exports concern for vegetables, onions, artichokes, potatoes, and for fruits, oranges and strawberries.
 
Local exporters report a significant increase in activity. Noting that demand has doubled for some products. The objective of boosting Egyptian exports by an additional 15% for the year 2017 seems easily achievable. Professionals believe that the growth achieved will be a direct result of the industry's rapid response to demand.


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