Egypt’s Non-Oil Trade Deficit Records $6.4B During Q1 of 2024: IDSCSource: www.export-egypt.com 7/7/2024, Location: Africa |
|
|
|
|
|
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 >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| 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 | 90 | |
