Egypt’s iron and steel industry plays a crucial role in the country’s economy. In 2024, the sector witnessed significant developments in trade, production, and employment.
Egypt imported iron and steel products worth $1.209 billion in 2024. The annual decrease amounted to 34.7%. These imports catered to domestic demand and industrial needs.
The country exported iron and steel products valued at $574 million during the same period. This export activity contributed to Egypt’s foreign exchange reserves. These exports encompassed a wide range of products, including scrap, billet, long steel products, flat steel products, and other smaller items. Egypt’s steel industry demonstrated versatility and adaptability.
Top Importing Countries
Among the top ten countries importing from Egypt, Türkiye emerged as the frontrunner during the current year. Its robust demand for Egyptian iron and steel products underscores strong bilateral trade relations.
The United States, Spain, Italy, and Romania followed closely, demonstrating their reliance on Egypt’s quality steel offerings.
Saudi Arabia (KSA) secured the sixth position, further emphasizing the Middle East’s role in Egypt’s export landscape.
Egypt domestically mined approximately 3 million tons of iron ore in 2024. This raw material serves as the foundation for steel production. The industry boasted 92 active steel factories, each contributing to the overall production capacity. Collectively, these factories had a maximum production capacity of 12.3 million tons annually. Local factories produced a staggering 10.63 million tons of rebars during the year.
In April 2024, rebar consumption witnessed a remarkable month-on-month increase of 65.04%. This surge reflects growing demand within the construction and infrastructure sectors. Compared to April 2023, rebar consumption surged by an impressive 71.59%. This substantial growth indicates the industry’s resilience and adaptability.
The total rebar consumption in April 2024 reached 579.3K tons, surpassing the figures from both March 2024 (351.0K tons) and April 2023 (337.6K tons).
The surge in rebar consumption suggests robust construction activity, infrastructure development, and economic expansion in Egypt.
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