Egypt’s trade deficit surged to $4.40bn in September 2024, marking a 22.8% increase from $3.58bn in the same month last year, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
In its monthly foreign trade bulletin, CAPMAS reported that Egypt’s exports rose by 10.2% in September 2024, reaching $3.46bn, up from $3.14bn in September 2023. This growth was driven by significant increases in the value of exports for several key products. Petroleum exports surged by 146.5%, ready-made garments rose by 28.7%, primary plastics grew by 42.1%, and food pastes and preparations saw an 11.1% increase. However, some exports experienced declines, including crude oil (down 66.0%), fertilizers (down 40.2%), fresh fruits (down 8.8%), and iron and steel bars and rods (down 14.0%).
Meanwhile, imports grew by 16.9%, reaching $7.86bn in September 2024, compared to $6.72bn in the same month of 2023. CAPMAS attributed this rise to higher import values for key goods such as petroleum products (up 33.9%), natural gas (up 138.6%), primary plastics (up 20.1%), and pharmaceuticals and medical preparations (up 1.7%). On the other hand, several imports saw declines, including wheat (down 22.3%), raw iron or steel materials (down 19.1%), passenger cars (down 25.2%), and corn (down 25.9%).
These figures highlight significant shifts in Egypt’s trade dynamics for September 2024, driven by varying trends in the prices and volumes of both exports and imports.
