Egypt’s merchandize exports rose by 8.7% year on year (YoY) to $3.12 billion in January, compared to $2.887 billion, Minister of Trade and Industry Ahmed Samir announced.

Meanwhile, the country’s merchandize imports fell 40% YoY in January to $4.476 billion from $7.520 million, Samir added.

The minister noted that these indicators contributed to decreasing the trade balance deficit by 68% YoY in January to $1.464 billion, versus $4.634 billion.

In January, Türkiye topped the list of importers of Egyptian merchandize exports with $292 million, followed by Saudi Arabia and Italy with $263 million and $173 million, respectively.

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