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Egypt's trade deficit fell to $37 billion in 2023
Posted on February 12, 2024 |
Egypt's trade deficit fell by $11.158 billion in 2023, reaching $36.908 billion, down from $48.66 billion in 2022.
The value of Egypt's merchandise exports in 2023 surpassed previous records, totaling $35.631 billion.
Egyptian exports to African countries increased by 7% year-on-year (YoY), reaching $2.247 billion, while exports to Arab League member states totaled $13.411 billion.
Export figures to the European Union (EU) amounted to $9.50 billion last year, with merchandise exports to the US reaching $1.966 billion.
Merchandise imports into Egypt decreased by 14% in 2023 to $72.539 billion, compared to $83.988 billion in 2022.