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.