Egypt Zones accountACCOUNT

Egypt’s Non-Oil Trade Deficit Records $6.4B During Q1 of 2024: IDSC

Source: www.export-egypt.com 7/7/2024, Location: Africa

Share |
In the first quarter (Q1) of 2024, Egypt's non-oil trade balance deficit experienced a significant decrease of 22.9 percent, reaching approximately $6.4 billion.

This marks a notable improvement compared to the deficit of $8.3 billion reported during the same period in 2023, as stated in a report released by the Information and Decision Support Center (IDSC).

According to the IDSC report, the value of Egypt's non-oil exports in Q1 2024 amounted to around $9.7 billion, reflecting a growth rate of approximately 10.2 percent compared to the previous year's first quarter, which recorded exports worth about $8.8 billion.

On the other hand, the value of non-oil imports during Q1 2024 stood at $16.1 billion, indicating a decrease of about 5.8 percent compared to the corresponding period, which saw imports valued at approximately $17.1 billion.

China emerged as Egypt's primary trading partner during Q1 2024, with a trade volume of $2.9 billion, followed by Turkey with a trade volume of $1.5 billion.

Notably, the trade deficit between Egypt and the United States decreased by approximately $476.2 million in Q1 2024 compared to the same quarter in 2023.

However, the trade deficit between Egypt and Ukraine witnessed an increase of $489.8 million during Q1 2024 compared to the corresponding quarter of the previous year.

In terms of non-oil exports, fruits claimed the top position in Egypt's trade, representing the highest value during Q1, with exports worth around $869.7 million.

This demonstrates growth when compared to approximately $714 million recorded during the same period in 2023.

Looking ahead, Egypt's exports to the United States are projected to increase by $2.4 billion, followed by the United Arab Emirates with an anticipated increase of about $1.4 billion.

Financials and Investment News in Egypt >>

Egypt >>  9/19/2024 - Egypt is having a special participation at the IFTM-Top Resa exhibition, which lasts until Sept.19 in Paris.

Egypt’s pavilion has more than...

Egypt >>  9/18/2024 - On his first visit around the region since his appointment, Jalel Trabelsi, the Special Envoy of the African Development Bank (AfDB), praised Egypt's ...

Egypt >>  9/18/2024 - On his first visit around the region since his appointment, Jalel Trabelsi, the Special Envoy of the African Development Bank (AfDB), praised Egypt's ...
Egypt >>  9/18/2024 - Benchmark index EGX 30 was up 0.61 percent to 30,342.46 points, with the Shariah index climbing by 0.20 percent to reach 2,879.64 points.

E...


Egypt >>  9/18/2024 - The British company Globeleq is set to collaborate with the Egyptian government in establishing a substantial project for green hydrogen production, a...
Egypt >>  9/18/2024 - Deputy Prime Minister and Minister of Health and Population Khaled Abdel Ghaffar asserted the importance of cooperating with South Africa in the field...




Egypt Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 |

More News

Oil & Gas Companies in Egypt >>

Related Links

Egypt Zones
Copyright © Universal Solutions All rights reserved. - Privacy Policy.