Egypt Daily News – Egypt’s foreign trade value increased by 8.7% during the first 11 months of 2024 to USD 126.01 bn compared to USD 115.879 bn during the same period in 2023.
Egypt’s trade deficit rose 19% in 11 months
The foreign trade bulletin issued by the Central Agency for Public Mobilization and Statistics (CAPMAS), showed that the value of trade increased by 4.2% last November to USD 10.829 bn from USD 10.388 bn. Egypt’s trade deficit increased by 19% during the period January-November 2024 to reach $45.23 billion compared to $37.991 billion during the same period in 2023, an increase of $7.239 billion.
Egypt’s non-petroleum exports grew 10.7% in the first 11 months
The value of Egyptian exports increased by 3.7% to $40.39 billion during the first 11 months of 2024, compared to $38.944 billion during the same period of 2023.
This is due to the growth of Egypt’s non-petroleum exports by 10.7% to $35.351 billion compared to $31.928 billion, and from petroleum products by 55.1% to $3.399 billion compared to $2.192 billion.
The value of natural and liquefied natural gas exports decreased by 87.2% during the period “January-November 2024” to reach $308 million compared to $2.414 billion during the same period of 2023, as well as crude oil by 44.7% to record $1.332 billion compared to $2.41 billion.
Egypt’s natural gas imports rise 103% in 11 months
The bulletin, a copy of which Amwal Al Ghad obtained, showed that the value of Egypt’s imports rose to USD 85.62 bn from USD 76.935 bn, a growth of 11.3%.
This came as the value of Egypt’s imports of natural gas rose by 102.9% during the first 11 months of 2024 to USD 4.373 bn from USD 2.155 bn, and petroleum products to USD 9.326 bn from USD 6.705 bn during the same period of 2023, a growth of 39.1%.
Egypt’s crude oil imports fell 57.8% to USD 680 mn from USD 1.612 bn, while non-petroleum imports rose 7.2% to USD 71.241 bn from USD 66.463 bn.
