Egipte: Visió econòmica i política
Trade represents 31% 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, plastics, citrus fruit and nitrogenous fertilisers. 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, radio-telephony transmission tools, plastics and medicines (World Trade Organisation and International Trade Center).
In 2021, Egypt's main export partners are Turkey (6.5%), Italy (6.3%), India (5.7%), the U.S. (5.3%), and Saudi Arabia (4.9%); whereas exports came chiefly from China (13.55% of total imports), Saudi Arabia (8.4%), the United States (6.9%), Germany (4.4%) and Turkey (4.2% - data Comtrade).
The Egyptian economy has a structural trade deficit, which was estimated at 9.2% of GDP in 2021 (World Bank). In the same year, the country’s total exports of goods stood at USD 43.6 billion (+63.8% compared to one year earlier, thanks to an increase in the price of hydrocarbons), whereas imports reached USD 83.5 billion (+39.5% year-on-year). As for services, Egypt exported USD 21.9 billion (+52% y-o-y), importing USD 22.9 billion (+34% y-o-y – data WTO). According to figures from the Minister of Trade and Industry, Egypt’s total exports of goods surged 11% year-on-year during the first 11 months of 2022, totalling USD 32.5 billion. In early 2022, the Central Bank of Egypt implemented a new requirement indicating that all imports had to be processed under a bank letter of credit (excluding branches of foreign companies and their subsidiaries, as well as certain foodstuffs and pharmaceuticals). Nevertheless, such a requirement was abolished as of December 2022.
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 61,627 | 72,000 | 70,919 | 59,843 | 83,503 |
Exports of Goods (million USD) | 25,604 | 27,624 | 28,993 | 26,630 | 43,626 |
Imports of Services (million USD) | 16,082 | 17,830 | 20,415 | 17,127 | 22,951 |
Exports of Services (million USD) | 18,613 | 22,913 | 24,253 | 14,376 | 21,897 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 45.1 | 48.3 | 43.2 | 33.8 | 31.4 |
Trade Balance (million USD) | -29,065 | -29,590 | -29,285 | -29,234 | -34,471 |
Trade Balance (Including Service) (million USD) | -27,349 | -24,709 | -25,428 | -32,381 | -35,700 |
Imports of Goods and Services (Annual % Change) | 52.5 | 10.6 | -8.9 | -17.9 | 0.2 |
Exports of Goods and Services (Annual % Change) | 86.0 | 31.6 | -2.2 | -21.7 | -13.4 |
Imports of Goods and Services (in % of GDP) | 29.3 | 29.4 | 25.7 | 20.7 | 20.3 |
Exports of Goods and Services (in % of GDP) | 15.8 | 18.9 | 17.5 | 13.1 | 11.1 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 30.1 | 0.9 | 2.8 | 7.7 | 4.3 |
Volume of imports of goods and services (Annual % change) | 6.5 | 0.2 | 2.4 | 7.1 | 2.9 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2022 |
Türkiye | 7.9% |
Spain | 7.3% |
Italy | 6.9% |
Saudi Arabia | 5.0% |
United States | 4.5% |
South Korea | 4.1% |
United Arab Emirates | 3.9% |
India | 3.7% |
China | 3.6% |
Greece | 3.5% |
Netherlands | 3.5% |
France | 3.3% |
United Kingdom | 3.3% |
Libya | 2.0% |
Germany | 1.9% |
Canada | 1.9% |
Morocco | 1.7% |
Algeria | 1.5% |
Jordan | 1.4% |
Belgium | 1.3% |
See More Countries | 68.5% |
Main Suppliers (% of Imports) |
2022 |
China | 14.3% |
Saudi Arabia | 8.9% |
United States | 7.2% |
India | 4.3% |
Russia | 4.2% |
Kuwait | 4.2% |
Germany | 4.1% |
Türkiye | 3.9% |
Italy | 3.7% |
Brazil | 3.5% |
United Arab Emirates | 3.3% |
France | 2.4% |
United Kingdom | 2.0% |
South Korea | 1.9% |
Spain | 1.7% |
Indonesia | 1.6% |
Israel | 1.6% |
Netherlands | 1.5% |
Belgium | 1.3% |
Sweden | 1.3% |
See More Countries | 61.2% |
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
25.1 bn USD of services exported in 2019 | |
52.02% | |
Personal travelPersonal travel | 52.02% |
33.95% | |
3.34% | |
3.18% | |
2.73% | |
2.32% | |
1.30% | |
0.64% | |
0.53% | |
n/a% |
21.2 bn USD of services imported in 2019 | |
40.35% | |
21.62% | |
16.60% | |
Personal travelPersonal travel | 16.17% |
Business travelBusiness travel | 0.43% |
10.58% | |
3.67% | |
3.21% | |
1.92% | |
1.39% | |
0.54% | |
0.12% |
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: September 2023
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