Egypt’s foreign trade reported at $24.59B during Q1 FY2023/2024, CBE

Cairo – April 29, 2024: During the first quarter of FY2023/2024 (July – September 2023), Egypt’s foreign trade volume hit $24.595 billion, dropping by around 18 percent compared to the first quarter of FY2022/2023.

Imports represented 66.14 percent worth $16.269 billion of total foreign trade in Q1 FY2023/2024, with exports representing 33.84 percent worth $8.325 billion, according to the latest data by the Central bank of Egypt.

During Q1 FY2022/2023, the CBE noted that imports were $19.067 billion while exports recorded about $9.965 billion.

Egypt’s top trading partners were the UAE, Saudi Arabia, and the USA with a collective $5.6 billion during the July – September 2023 period.

Trade exchange between Egypt’s top 14 trading partners accounted for around 63.9 percent of the country’s foreign trade volume.

Leading the 14 countries/trading partners was the UAE with a trade exchange volume of $2.202 billion during Q1 FY2023/2024, split between $1.248 billion as imports and $953.7 million as exports.

Following the UAE is Saudi Arabia with $1.731 billion, including $1.340 billion in imports and $391.3 million in exports.

The USA’s trade with Egypt was recorded at $1.667 billion, with imports of $816.6 million and exports worth $850.5 million.

China was Egypt’s 4th top trading partner with trade valued at $1.574 billion, split between $1.402 billion in imports and $171.4 million.

In 5th spot, trade with Germany was recorded at $1.446 billion, with $1.008 billion in imports and $437.7 million in exports.

Trade with Italy hit $1.186 billion, with $516.9 million in imports and $669.1 million in exports.

The UK and Egypt trade volume stood at $1.179 billion with $568.4 million in imports and $611.3 million in exports.

Egypt’s 8th top trading partner was Turkey with $949.1 million, split between imports worth $539.7 million and exports worth $409.4 million.

Switzerland’s trade with Egypt was recorded at $918.3 million, with $583.5 million in imports and $334.8 million in exports.

In 10th place was trade with India which reached $680.3 million, split between $515.6 million in imports and $164.7 million in exports.

Brazil was in 11th place with trade worth $580.4 million, followed by Russia with $554.7 million, Kuwait at $528.6 million, and France with $524.8 million.