PHOTO
Image used for illustrative purpose. A container ship is seen beside cranes at the Suez canal near Ismailia port city, northeast of Cairo, Egypt March 5, 2021. Mohamed Abd El Ghany. REUTERS
The value of Egypt’s total exports in 2023 stood at $42.5 billion, 18.5% down from $52.2 billion in 2022, according to a press release from the Central Agency for Public Mobilization and Statistics (CAPMAS).
Non-oil exports were valued at $35.44 billion last year, inching up by 0.2% year on year (YoY) from $35.35 billion.
Meanwhile, the value of oil and electricity exports dropped by 58% YoY, reaching $7.1 billion last year from $16.9 billion.
Türkiye ranked first as Egypt’s top exporting destination in 2023, with exports valued at $3.6 billion, accounting for 8.6% of total exports.
Italy came in second spot as Egypt exported $3.3 billion worth of goods to the European country, making up 7.6% of total exports.
Saudi Arabia followed in third place, representing 6.2% of Egypt’s total exports at a value of $2.7 billion.
On the other hand, Egypt’s total imports in 2023 were worth $84.2 billion, falling by 12.4% YoY from $996.2 billion.
Non-oil imports declined by 12.2% to $72.6 billion last year, versus $82.7 billion in 2022.
Additionally, oil and electricity imports were valued at $11.7 billion, down by 13.3% YoY from $13.5 billion.
China was Egypt’s top importing destination in 2023, with the North African country’s imports from the Asian country worth $13.2 billion, making 15.7% of Egypt’s total imports.
Saudi Arabia and the US came in second and third spots with Egypt’s imports from both countries amounting to $5.5 billion and $5.1 billion, respectively.
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