Exports from Egypt to the USA declined in 2022, dropping 9.1 percent to hit $2.3 billion, compared to $2.5 billion the previous year, the Central Agency for Public Mobilization and Statistics (CAPMAS) revealed in its latest trade report.
According to CAPMAS, around 58 percent of Egyptian shipments to the US were comprised of ready-made clothes, totaling $1.3 billion in value from the previous year.
On the other hand, imports from Egypt to the US saw a positive uptick to reach $6.8 billion. Key US exports to Egypt were primarily grains, oil seeds, and medical plants.
Minister of Trade and Industry, Ahmed Samir, highlighted that Egyptian exports to other Western trade partners, including Germany, Spain, France, and the UK, experienced growth in 2022.
Egypt's non-oil trade balance deficit improved during H1 FY2022/2023, declining by approximately $6.5 billion, reaching $17.3 billion compared to H1 FY2021/2022.