Egyptian oil and gas exports drop 28.1% in first two months of 2023: CAPMAS

Egypt's fuel exports saw a decline in value during the months of January and February 2023, with a total value of approximately $1.97 billion, according to recent data from the Central Agency for Public Mobilization and Statistics (CAPMAS).

Exports were recorded at $2.74 billion in the January-February period of 2022, representing a decrease of 28.1 percent or $769 million.

The statistics agency revealed that crude oil exports declined by 58.8 percent to about $243 million in January and February 2023, compared to $590 million during the same period in 2022.

The value of natural and liquefied gas exports declined by 12.2 percent to $1.33 billion during the same period in 2023, compared to $1.52 billion in January and February 2022.

On the other hand, coal exports increased from $1.3 million during the same period in 2022 to $4.2 million in January and February 2023.

The trade balance deficit decreased by 48.2 percent in February 2023, reaching $2.1 billion, compared to $4.06 billion during February 2022, according to data from the Central Agency for Public Mobilization and Statistics released last week.