Egypt’s flourishing maritime industry

SourceAhram
SectorIndustrial
CountryEgypt

Egypt’s maritime industry plays a pivotal role in the economic development of the country. Its geostrategic position is of great significance at the crossroads of three continents, Europe, Asia and Africa, connecting these by the Nile River and the Suez Canal, and this is underlined by Egypt’s 15 seaports on the Mediterranean Sea and 33 on the Red Sea. Egypt also has 44 further ports that facilitate pivotal sectors of the economy including the fishing industry, mining, petroleum and tourism. The transportation and storage sectors contribute more than five per cent to annual GDP growth, and Egypt is modernising its maritime sector to secure higher economic revenues and investment opportunities.  The government of Egypt has set out a long-term strategy for developing the country’s maritime industry by raising the efficiency and competitiveness of its maritime ports. The maritime sector of Egypt has also maintained its steady growth despite the global challenge of the Covid-19 pandemic. Approximately 90 per cent of Egypt’s international trade is seaborne and relies on maritime transport services, and this significantly contributes to its economic development, with the port of Alexandria, the country’s main commercial port, handling approximately 60 per cent of foreign trade.

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