Egypt targets $12 billion in digital exports over three years

Egyptian Minister of Communications and Information Technology, Eng. Raafat Hendy, stated in televised remarks that Egypt aims to reach $8 billion in digital exports by 2028, with expectations that digital services exports in the outsourcing sector will rise to $12 billion by 2029. This target accompanies efforts to localize the electronics industry and increase the number of companies operating in Egypt in electronics design to 120 by 2030.

Meanwhile, statements issued by Suez Canal Authority Chairman, Major General Osama Rabie, revealed that Suez Canal revenues rose by 56.7 percent year-on-year in August, reaching $567.1 million, driven by an increase in the number of transiting ships and higher cargo volumes.

He added that the number of ships passing through the canal increased by 27 percent compared to August 2025, reaching 1,358 vessels, while net tonnage rose by 51.1 percent to approximately 68.3 million tons.

He stated, “Navigation activity is regular, and the canal is capable of handling regional and international challenges and continuing to support global trade and supply chains, with global shipping companies returning to use the canal.”

Data on financial market performance from April 1 to June 30, 2026, showed activity in the Egyptian stock market, as the EGX30 index recorded a cumulative increase of 11.4 percent in the second quarter of the year.