Disclaimer: The information provided on the Timber Exchange Market Data Hub is sourced from a variety of publicly available data sources and confidential sources that have not been independently verified. Timber Exchange is not responsible for any expenses, damages, losses, or costs incurred as a result of using or relying on the information provided on this site. By using the Timber Exchange Market Data Hub, you agree to use the information at your own risk and acknowledge that any decisions made based on the information provided are done so solely at your own risk.
Egypt's trade deficit rises 18% in July, reaching $4.6 billion

Egypt's trade deficit rises 18% in July, reaching $4.6 billion

Posted on October 15, 2024   |  

Egypt's exports grew by 10.7% in July 2024, reaching $3.54 billion, with significant growth in goods like ready-made garments (up 37.4%) and petroleum products (up 98.5%).

Some export values dropped, including crude oil (down 62.6%), fertilizers (down 61%), iron rods and bars (down 34.2%), and plastic products (down 0.1%).

Imports rose by 14.9% year-on-year, totaling $8.14 billion in July 2024, with petroleum products (up 83.6%), natural gas (up 210.1%), and iron and steel materials (up 49.4%) leading the growth.

Certain imports saw a decrease, such as wheat (down 5.3%), passenger cars (down 26.8%), corn (down 16.7%), and soybeans (down 12.4%).

Egypt’s trade deficit narrowed by 5.1% in June 2024, dropping to $2.87 billion from $3.02 billion in June 2023.

The current account deficit increased, reaching $17.1 billion in the first nine months of FY2023/2024, compared to $5.3 billion in the same period of FY2022/2023.

Export growth was driven by key sectors, while the rise in imports was mainly due to higher demand for petroleum, natural gas, and raw materials.



Previous Next