Food industries are among the most important productive sectors that helped push up Egypt’s Gross Domestic Product (GDP) by 17.5 billion dollars (5.8%) in 2019, a report by the Cabinet’s Information and Decision Support Center (IDSC) stated Monday.

Indeed, foods top branches of the industry sector with contributions that amount to about 28% of production, the IDSC report noted.

This branch alone secures about 27% of jobs at the industrial sector, with contribution from the private sector to 83% of production, it said.

The report added that food industries could achieve an average of 3.6% annual growth rate during the period between 2015 and 2019.

Food exports amounted to some 3.4 billion dollars in 2019, which constituted 13.4% of the total Egyptian exports back then, it said.

The global demand for foodstuffs is steadily increasing due to population growth, urbanization, income growth and advanced technologies, not to mention commercial policies that include a decline in customs tariff on imports, according to the IDSC report.

Source: State Information Service Egypt