Foreign trade jumped to $104.7B in FY2023, CBE

Cairo – January 14, 2025: Egypt’s foreign trade volume surged to around $104.7 billion in FY2023/2024, according to the latest report from the Central Bank of Egypt (CBE), including $72.1 billion in imports and $32.6 billion in exports, highlighting Egypt’s strong economic connections with international markets.

Trade with Egypt’s top 14 trading partners accounted for 64.6 percent of its overall foreign trade, totaling around $67.6 billion.

This figure consists of $46 billion in imports and $21.6 billion in exports, underscoring the commercial ties Egypt maintains with countries around the world.

The United Arab Emirates (UAE) emerged as Egypt’s largest trading partner during this period, with a total trade volume of $9.3 billion. This includes $5.6 billion in imports and $3.7 billion in exports.

Following closely behind, the United States ranked second, with a total trade volume of $7.5 billion, made up of $3.9 billion in imports and $3.6 billion in exports.

Saudi Arabia and China tied for the third spot, both recording a trade volume of $7.2 billion. Saudi Arabia’s trade consisted of $5.4 billion in imports and $1.8 billion in exports, while China’s trade included $6.7 billion in imports and $490 million in exports.

Germany placed fifth, with a trade volume of $5.2 billion, including $3.7 billion in imports and $1.5 billion in exports. The United Kingdom followed in sixth place, registering $4.8 billion in total trade, comprising $2.5 billion in imports and $2.3 billion in exports. Italy’s trade volume reached $4.6 billion, with $2.4 billion in imports and $2.2 billion in exports.

Other notable trading partners include Turkey with $4.3 billion in trade, Switzerland at $4.1 billion, and Russia with a trade volume of $3.2 billion. Brazil, India, and France also maintained significant trading volumes, contributing $2.8 billion, $2.5 billion, and $2.4 billion, respectively.

The CBE further reported that trade with countries outside of the top 14 totaled $37.1 billion, consisting of $26.2 billion in imports and $10.9 billion in exports.