CAIRO – 14 March 2024: Egypt's imports in 2023 amounted to $83.2 billion, showing a decrease from $96.2 billion in 2022, with a decline of $13 billion, and a decrease rate of 13.5 percent, revealed the latest data from the Central Agency for Public Mobilization and Statistics (CAPMAS).
This decline aligns with Egypt's strategy to decrease the import bill and enhance reliance on local products.
China stood out as the dominant source of imports for Egypt in 2023, with a total value of $12.9 billion. The United States followed closely behind with imports valued at $5.4 billion, and Saudi Arabia's imports amounted to $5.2 billion.
Russia and Germany also made contributions, with imports valued at $5 billion and $4.1 billion, respectively.
Italy and India were noteworthy as well, as Egypt imported goods worth $3.2 billion each from these countries. Additionally, Brazil's imports amounted to $3 billion, while Turkey and Kuwait had imports valued at $2.8 billion and $2.7 billion, respectively.
The notable commodities on Egypt's Import list in 2023 included 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.
In March, CAPMAS also reported that the trade balance deficit for Egypt increased by 17.8 percent in December 2023, reaching $3.03 billion, compared to $2.57 billion in December 2022.
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