Egypt's merchandise exports recorded 3 billion and 12 million dollars during January 2024, exceeding January 2023 exports.
The Minister of Trade and Industry announces: The trade balance deficit decreased by 68% and imports decreased by 40% in January of this year.
Turkey, Saudi Arabia, Italy, the Emirates, the United States of America, and Libya are the most important receiving markets for Egyptian commodity exports.
Engineer Ahmed Samir, Minister of Trade and Industry, announced that Egyptian merchandise exports achieved a significant growth rate during the month of January 2024, reaching 3 billion and 12 million dollars, compared to 2 billion and 887 million dollars during the same month in 2023, Pointing out that Egyptian merchandise imports witnessed a decline of 40%, reaching 4 billion and 476 million dollars, compared to 7 billion and 520 million dollars during the same month of 2023.
The minister said that these positive indicators contributed to the decrease in the trade deficit by 68% during the month of January, as it reached one billion and 464 million dollars, compared to 4 billion and 634 million dollars during the same month last year.
This came in the context of the latest report that the minister received from the General organization for Export and Import Control on Egypt’s foreign trade movement during January 2024.
The report included the largest receiving markets for Egyptian exports during the month of January, which included Turkey with a value of 292 million dollars, and the Kingdom of Saudi Arabia with a value of 263 million dollars. Italy, with a value of 173 million dollars, the United Arab Emirates, with a value of 169 million dollars, the United States of America, with a value of 168 million dollars, and Libya, with a value of 162 million dollars.
The report also reviewed the export sectors that formed the structure of Egyptian exports during last January, which included construction materials with value 624 million dollars, and agricultural crops with value 467 million dollars, Chemical products and fertilizers with value 421 million dollars, food industries with value 408 million dollars, engineering and electronic goods with value 356 million dollars, ready-made clothing with value 258 million dollars, and spinning and textiles with value 91 million dollars, And printing, packaging, paper, books, and artistic works with value 68 million dollars, furnishings with value 47 million dollars, medical industries with value 42 million dollars, furniture with value 21 million dollars, handicrafts with value 19 million dollars, and leather, shoes and leather products with value 15 million dollars.
