Trade Deficit
Egypt’s exports saw a 10.7 percent rise, totaling $3.54 billion in July 2024, up from $3.20 billion in the same month last year.
According to the Central Bank of Egypt’s (CBE) latest release on the country’s Balance of Payments (BoP), Egypt recorded a $9.7 billion surplus in the fiscal year 2023/2024, while the current account deficit expanded, registering at $20.8 billion
The largest surge of inflows, approximately $40.5 billion, was recorded in the second half of the fiscal year, mainly due to the execution of the Ras El Hekma agreement valued at $35 billion
The decline was attributed to a slight increase in Egyptian exports which was up by 0.8 percent to reach $3.29 billion compared to $3.26 billion recorded in April 2023
The value of imported goods experienced a decrease of 16.2 percent, totaling $5.94 billion in March 2024, down from $7.09 billion in the same month of the previous year.
The data from CAPMAS revealed that the value of exports experienced a decline of 15.6 percent during January 2024, amounting to $3.46 billion, compared to $4.10 billion in January 2023.
IDSC's data revealed that China emerged as Egypt's most significant trading partner, with a trade exchange volume of $3.4 billion during Q4 of 2023.
During December 2023, the value of Egypt's exports declined by 23.0 percent, to record $3.48 billion, in contrast to $4.52 billion in the same month of 2022.
CAPMAS also showed that Egypt’s exports decreased by 20.6 percent reaching $3.21 billion during November 2023 compared to $4.04 billion during the same month of the previous year
CAPMAS further indicated that Egypt's exports declined by 19.2 percent in October 2023, amounting to $3.23 billion, down from $4 billion in October 2022.
In its quarterly non-oil merchandise exports report, the IDSC reported an increase of 10.4 percent in non-oil exports during the July-September period to reach $8.5 billion compared to the $7.7 billion recorded in Q3 2022
The report indicates a notable decline in the value of exports, which amounted to $2.94 billion during September 2023
Exports from Egypt declined by 1.9 percent to reach $3.36 billion during August 2023, compared to $3.43 billion reported in August of last year
The source attributed the deficit’s decline to the country’s woes with foreign currency, leading to exports dropping by 3 percent to record $26.2 billion
Egypt’s exports declined by 10.9 percent, recording $3.10 billion in July, compared to $3.47 billion in the same month of the previous year, according to the monthly report on external trade data.
The CAPMAS noted that exports decreased by 20.9 percent during May, recording $3.38 billion, compared to $4.28 billion for the same month in 2022.
A steep decline in exports of natural and liquefied gas was a main contributor, plummeting by 75.6 percent
The decline in the trade balance deficit during January 2023 is due to a decrease in the value of imports by 28.2 percent, reaching $6.33 billion, compared to $8.83 billion for the same month of the previous year.
The decline in the trade balance deficit during December 2022 is due to a decrease in the value of imports by 28 percent, reaching $6.11 billion, compared to $8.49 billion for the same month of the previous year.
Egypt’s imports dipped during November 2022 by 26.8 percent, to reach $5.94 billion, down from $8.11 billion during November 2021.
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