Egypt’s trade balance deficit expands by 22.8% in September 2024

CAIRO – 11 December 2024: Egypt’s trade balance deficit widened to $4.40 billion in September 2024, marking a 22.8 percent increase from $3.58 billion in the same period of 2023, as reported by the Central Agency for Public Mobilization and Statistics (CAPMAS).

Exports grew by 10.2 percent, reaching $3.46 billion in September 2024, compared to $3.14 billion a year earlier.

This rise was propelled by notable increases in key export categories, such as petroleum products (up 146.5 percent), ready-made garments (up 28.7 Percent), primary forms of plastics (up 42.1 percent), and pasta and other food preparations (up 11.1 percent).

 However, declines were recorded in exports of crude oil (down 66.0 percent), fertilizers (down 40.2 percent), fresh fruits (down 8.8 percent), and iron and steel bars, rods, and wires (down 14.0 percent).

Imports saw a 16.9 percent increase, totaling $7.86 billion in September 2024, compared to $6.72 billion in the same month of the previous year.

 The rise was driven by higher import values of petroleum products (up 33.9 percent), natural gas (up 138.6 percent), primary forms of plastics (up 20.1 percent), and pharmaceutical products (up 1.7 percent).

 On the other hand, significant declines were observed in imports of wheat (down 22.3 percent), raw iron or steel materials (down 19.1 percent), passenger cars (down 25.2 percent), and corn (down 25.9 percent).