This came within the framework of Egypt's strategy to reduce the value of the import bill and increase the reliance on the local products.
The total value of Egypt's imports was recorded at $83.2 billion in 2023, compared to $96.2 billion in 2022, a decrease of $13 billion or 13.5%, revealed the latest data from the Central Agency for Public Mobilization and Statistics (CAPMAS).
This came within the framework of Egypt's strategy to reduce the value of the import bill and increase the reliance on the local products.
Egypt's imports in 2023 were dominated by China, with a total value of $12.9 billion. The United States followed closely behind, with imports valued at $5.4 billion, while Saudi Arabia's imports amounted to $5.2 billion.
Russia and Germany also featured prominently, with imports valued at $5 billion and $4.1 billion, respectively.
In addition, Egypt imported goods worth $3.2 billion each from Italy and India. Brazil's imports amounted to $3 billion, while Turkey and Kuwait had imports valued at $2.8 billion and $2.7 billion, respectively.
In 2023, Egypt's import list featured the following prominent commodities: petroleum products with a value of $7.4 billion, iron or steel raw materials worth $4.2 billion, wheat valued at $3.8 billion, medicines and pharmaceutical preparations totaling $3.6 billion.
Egypt's imports of primary forms of plastics amounting to $3.3 billion, organic and inorganic chemicals valued at $3 billion, corn worth $2.5 billion, natural gas totaling $2.3 billion, passenger cars valued at $2.1 billion, and crude oil with a worth of $1.9 billion.
Earlier in March, CAPMAS also revealed that Egypt’s trade balance deficit increased by 17.8% in December 2023, to reach $3.03 billion, compared to $2.57 billion in December 2022.
