The report on the external situation of the Egyptian economy issued by the Central Bank of Egypt on Tuesday revealed that trade volume decreased by 5.2% to reach 104.7 billion US dollars (26.6% of GDP) during the fiscal year 2023/2024.
The trade deficit also increased by approximately US$8.4 billion to reach US$39.6 billion (10.0% of GDP), compared to US$31.2 billion, as a result of the following developments:
Merchandise exports decreased by 17.8% to US$32.6 billion, mainly due to a 58.6% decline in petroleum exports to US$5.7 billion (17.6% of total exports), while non-petroleum exports increased by 4.0% to 26.8 Billion US dollars (82.4% of total exports). As a result, the export/import ratio decreased to 45.1% from 56.0%.
Merchandise imports increased by 1.9% to reach $72.1 billion, mainly as a result of a 2.4% increase in non-oil imports to reach $58.8 billion (81.5% of total imports), while oil imports stabilized at $13.4 billion (18.5% of total imports). .
