PHOTO
Image used for illustrative purpose. Container trucks stand in line on the road due to bad weather in the Mediterranean city of Alexandria, March 30, 2019.
Egypt’s trade balance deficit declined by $11.158 billion in 2023 to $36.908 billion, versus $48.66 billion in 2022, Minister of Trade and Industry Ahmed Samir announced in a statement on February 6th.
Additionally, the country’s merchandize exports were valued at $35.631 billion in 2023, surpassing 2022 records, Samir said.
Egyptian exports to the African countries grew by 7% year-on-year (YoY) to $2.247 billion, while exports to the Arab League member countries amounted to $13.411 billion.
Meanwhile, exports to the European Union (EU) stood at $9.50 billion last year.
Moreover, Egypt’s merchandize exports to the US hit $1.966 billion.
On the other hand, merchandize imports fell by 14% last year to $72.539 billion, versus $83.988 billion in 2022, he added.
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