In 2023, Egypt witnessed a major boom in its iron and steel exports, rising by 65% year-on-year to reach $2.33 billion, a significant increase compared to $1.41 billion the previous year. According to a report issued by the Export Council for Building Materials, Refractories and Metals, Egyptian suppliers succeeded in penetrating the markets of 87 countries with their steel products during the same period. Among these destinations, Spain emerged as the main destination for Egyptian steel products, as exports to it increased by 51% year-on-year to reach $409 million, compared to $271 million in 2022. In addition, Egyptian steel exports to Turkey witnessed a notable boom, reaching $353.5 million in 2023, a significant jump from $23.3 million the previous year. Other major destinations for Egyptian steel products in 2023 include Italy ($298 million), the United States of America ($197 million), Romania ($157 million), Bulgaria ($69 million), and Saudi Arabia ($64 million).
