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An Economic Study on The Current and Future Status of Major Egyptian Exports of Medicinal and Aromatic Plants دراسة اقتصادية عن الوضع الراهن والمستقبلي لأهم الصادرات المصرية من ا

Article

Last updated: 28 Dec 2024

Subjects

-

Tags

Agricultural economics

Abstract

External trade is a cornerstone of Egypt's economic activity, as it helps provide External currency resources through export revenues needed to drive economic development. External trade is also a key component in the economies of developing countries. Therefore, increasing agricultural exports, particularly medicinal and aromatic plants, is one of the main goals of agricultural development in Egypt in light of local, regional, and global changes. The state is working hard to increase export rates to reduce the trade deficit, with Egypt's External trade amounting to about $125.2 billion in 2023. Total exports amounted to $42.05 billion, while imports reached approximately $83.16 billion, representing about 33.59% and 66.42% of External trade, respectively,The agricultural trade balance amounted to $22.1 billion, with agricultural exports valued at $9.01 billion and imports at $13.11 billion, representing 40.77% and 59.32% of agricultural trade, respectively. The deficit in the overall trade and agricultural trade balances was approximately $41.11 billion and $4.10 billion, respectively, in the same year. Thus, developing agricultural exports, especially medicinal and aromatic plants, is a core area of research as these plants face various challenges, including fluctuating external demand. The research problem stems from the economic and export importance of medicinal and aromatic plants, which benefit from Egypt's suitable production conditions and earlier harvests than competitors, yet export capacity remains low.
  The study aims to analyze the current and future status of Egypt's exports of major medicinal and aromatic plants. Key findings indicate that the annual average value of exports, imports, and net trade balance amounted to about $23.34 billion, $52.66 billion, and -$29.22 billion, respectively. The annual average of agricultural exports, imports, and net agricultural trade balance reached approximately $3.01 billion, $9.20 billion, and -$4.10 billion, with annual growth rates of 11.7%, 9.7%, and 9.3%, respectively,Projections show an increase in export values for certain crops, such as chamomile, from $3.78 million in 2024 to approximately $6.05 million in 2030, an expected increase of $2.26 million or 59.84%. The export value of marjoram is expected to rise from $2.96 million in 2024 to $20.10 million in 2030, an increase of $17.15 million, representing a projected growth rate of 580.2%. Additionally, the export value of citronella oil is expected to increase from $2.69 million in 2024 to $11.82 million in 2030, a growth of $9.13 million or 339.2%, while cut flower exports are projected to rise from $2.40 million in 2024 to $4.32 million in 2030, a growth of $1.92 million or 79.7%.
               Based on the study's findings, the study recommends the following:
1-Increase the cultivation area and enhance production efficiency to meet External market demands, supporting the growth of agricultural exports of medicinal and aromatic plants.
2-Address the lack of agricultural extension services and cooperative agricultural associations in promoting proper agricultural practices for the production and marketing of medicinal and aromatic plants.
Stabilize
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3-Stabilize product prices and improve market access for small farmers, while developing a clear
marketing policy for medicinal and aromatic plants, given their importance as export crops.
4-Improve the availability of marketing information and post-harvest knowledge specific to medicinal and aromatic plants.
5-Ensure adequate, quality-compliant facilities for preparing products for export markets.

DOI

10.21608/jalexu.2024.331534.1233

Keywords

التجارة الخارجية, النباتات الطبية والعطرية, التنبؤ

Authors

First Name

Shimaa

Last Name

Alewa

MiddleName

M. B.

Affiliation

Agricultural Economics Research Institute - Agricultural Research Center

Email

shimaamasoud375@gmail.com

City

-

Orcid

-

First Name

Karema.

Last Name

Ahmed

MiddleName

Z.S.

Affiliation

Agricultural Economics Research Institute - Agricultural Research Center

Email

-

City

-

Orcid

-

Volume

29

Article Issue

4

Related Issue

51243

Issue Date

2024-12-01

Receive Date

2024-10-27

Publish Date

2024-12-01

Page Start

653

Page End

671

Print ISSN

1110-5585

Online ISSN

2785-9525

Link

https://jalexu.journals.ekb.eg/article_395290.html

Detail API

https://jalexu.journals.ekb.eg/service?article_code=395290

Order

5

Type

Research papers

Type Code

1,789

Publication Type

Journal

Publication Title

Journal of the Advances in Agricultural Researches

Publication Link

https://jalexu.journals.ekb.eg/

MainTitle

An Economic Study on The Current and Future Status of Major Egyptian Exports of Medicinal and Aromatic Plants دراسة اقتصادية عن الوضع الراهن والمستقبلي لأهم الصادرات المصرية من النباتات الطبية والعطرية

Details

Type

Article

Created At

28 Dec 2024