Egipte: Visió econòmica i política
Trade represents 37% of the country's GDP (World Bank). The Egyptian market has been gradually opening up, with the ratification of various free trade agreements, especially the European Free Trade Association (EFTA). The African Continental Free Trade Area (AfCFTA) was ratified by Egypt in 2019. Petroleum products (oil and gas) are the most traded items, both for imports and exports. Other important exports are gold, fertilizers, and citrus fruit. Imports are driven by petroleum (as Egypt’s reserves are much less significant than those of other Gulf countries), machinery and mechanical appliances, cereals (the country imports around 40% of its food requirements according to FAO), cars, and medicines (World Trade Organisation and International Trade Center).
In 2022, Egypt's main export partners were Turkey (7.9%), Spain (7.3%), Italy (6.9%), Saudi Arabia (5%), the U.S. (4.5%), and South Korea (4.1%); whereas exports came chiefly from China (14.3% of total imports), Saudi Arabia (8.9%), the United States (7.2%), India (4.3%) and Russia (4.2% - data Comtrade). Egypt is making concerted efforts to enhance its exports and curtail imports in a bid to bolster its foreign currency reserves, which have been strained since the commencement of the Russo-Ukrainian crisis in late February 2022.
The Egyptian economy has a structural trade deficit, which was estimated at 6.8% of GDP in 2022 (World Bank). In the same year, the country’s total exports of goods stood at USD 48.8 billion (+19.7% compared to one year earlier), whereas imports reached USD 85.8 billion (+16.9% year-on-year). As for services, Egypt exported USD 31.5 billion (+44.2% y-o-y thanks to the positive performance of the tourism sector), importing USD 25.4 billion (+9.8% y-o-y – data WTO). During the first nine months of 2023, Egypt experienced a 22% decrease in exports, amounting to USD 30.8 billion as reported by the Central Agency for Public Mobilization and Statistics (CAPMAS). IImports followed a similar trend, witnessing a 21% year-on-year decline, at USD 58.5 billion, down from USD 74 billion during the corresponding period in 2022.
Foreign Trade Values | 2019 | 2020 | 2021 | 2022 | 2023 |
Imports of Goods (million USD) | 70,991 | 60,488 | 74,453 | 95,670 | 78,895 |
Exports of Goods (million USD) | 29,000 | 27,078 | 41,310 | 51,280 | 39,853 |
Imports of Services (million USD) | 21,193 | 18,199 | 23,126 | 25,398 | 19,767 |
Exports of Services (million USD) | 25,051 | 15,053 | 21,897 | 31,574 | 37,047 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2018 | 2019 | 2020 | 2021 | 2022 |
Foreign Trade (in % of GDP) | 45.9 | 41.1 | 32.1 | 29.9 | 37.0 |
Trade Balance (million USD) | -29,590 | -29,285 | -29,234 | -34,471 | -27,024 |
Trade Balance (Including Service) (million USD) | -24,709 | -25,428 | -32,381 | -35,700 | -20,848 |
Imports of Goods and Services (Annual % Change) | 7.2 | -8.6 | -18.7 | 0.5 | 24.3 |
Exports of Goods and Services (Annual % Change) | 31.6 | -2.7 | -23.7 | -13.8 | 57.3 |
Imports of Goods and Services (in % of GDP) | 27.9 | 24.5 | 19.7 | 19.3 | 21.9 |
Exports of Goods and Services (in % of GDP) | 18.0 | 16.6 | 12.5 | 10.6 | 15.1 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2024 | 2025 (e) | 2026 (e) | 2027 (e) | 2028 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | -6.5 | 4.2 | 8.2 | 8.4 | 7.7 |
Volume of imports of goods and services (Annual % change) | 9.7 | 2.8 | 12.7 | 11.1 | 12.2 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2023 |
Türkiye | 9.0% |
Italy | 7.5% |
Saudi Arabia | 6.4% |
United Arab Emirates | 5.3% |
United States | 4.6% |
Libya | 4.3% |
Spain | 4.2% |
Greece | 3.7% |
United Kingdom | 2.9% |
India | 2.8% |
Netherlands | 2.2% |
China | 2.2% |
France | 2.0% |
Algeria | 2.0% |
Morocco | 1.9% |
Germany | 1.9% |
Iraq | 1.7% |
Jordan | 1.6% |
Lebanon | 1.3% |
Canada | 1.2% |
See More Countries | 67.3% |
Main Suppliers (% of Imports) |
2023 |
China | 15.6% |
United States | 6.5% |
Saudi Arabia | 6.3% |
Russia | 6.0% |
Germany | 4.9% |
Italy | 3.9% |
India | 3.9% |
Brazil | 3.6% |
Türkiye | 3.3% |
Kuwait | 3.2% |
Ukraine | 2.7% |
Israel | 2.7% |
United Arab Emirates | 2.5% |
United Kingdom | 2.2% |
France | 2.0% |
Indonesia | 1.8% |
South Korea | 1.8% |
Spain | 1.8% |
Argentina | 1.3% |
Netherlands | 1.3% |
See More Countries | 60.8% |
Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import-Export Flows.
31.6 bn USD of services exported in 2022 | |
38.78% | |
Personal travelPersonal travel | 38.78% |
OtherOther | 23.73% |
37.49% | |
10.04% | |
5.24% | |
3.88% | |
1.71% | |
1.15% | |
0.87% | |
0.50% | |
0.34% |
25.4 bn USD of services imported in 2022 | |
44.46% | |
21.36% | |
Personal travelPersonal travel | 21.10% |
OtherOther | 34.18% |
Business travelBusiness travel | 0.26% |
11.53% | |
9.50% | |
7.11% | |
3.11% | |
1.56% | |
1.14% | |
0.12% | |
0.12% |
Source: United Nations Statistics Division, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: February 2025
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