Egypt's foreign trade volume reached a total of $140.6bn in 2024, according to the latest annual bulletin published by the Central Agency for Public Mobilisation and Statistics (CAPMAS). The data highlights a year of mixed outcomes for Egypt's trade performance, with export growth led by non-oil sectors, while import volumes rose sharply, driven in part by increased energy-related purchases. Egypt's total exports reached $45.3bn in 2024, marking a 6.5% increase compared to the $42.6bn recorded in 2023. This growth was largely fuelled by a strong performance in non-oil exports, which jumped by 14.4% to $39.9bn, up from $34.9bn the previous year. In contrast, exports of oil and electricity products saw a significant decline of 29.1%, falling from $7.7bn in 2023 to $5.5bn in 2024, reflecting shifting dynamics in global energy markets and domestic production. In terms of the structure of exports, finished goods represented the largest share, comprising 54.1% of total exports. Semi-finished goods followed with a 23.2% share, while raw materials accounted for 11.2%. Among Egypt's top-performing export commodities in 2024, gold and platinum-coated gold in raw form saw the most significant growth, rising to $3.2bn, up from $1.8bn in 2023—a remarkable increase of 77.7%. Plastics and plastic products also showed strong momentum, with export values reaching $2.3bn, compared to $1.8bn a year earlier. The ready-made garments sector remained a key contributor to export earnings, with shipments valued at $2.8bn in 2024, reflecting a 17.2% increase. Iron and steel products edged up modestly to $2.3bn, up 4.4% from the previous year. Meanwhile, exports of insulated electric wires, cables, and conductors rose to $1.4bn, showing a 23.6% increase. Saudi Arabia maintained its position as Egypt's top export destination in 2024, accounting for 7.7% of total exports. Shipments to the Kingdom grew by 31.1%, reaching $3.5bn, up from $2.7bn in 2023. Turkey came in second with a 7.6% share, although exports to the country declined by 6.0% to $3.4bn. The United Arab Emirates ranked third, with Egyptian exports to the UAE surging by 47.5% to $3.3bn, up from $2.2bn the year before. Italy followed closely, receiving 7.1% of total exports, though its import volume from Egypt slipped slightly by 1.5% to $3.2bn. By region, Arab countries collectively represented the largest market for Egyptian exports, accounting for 36.2%. Western Europe followed with 25.9%, while Eastern Europe made up 18.1%. In terms of logistics, Alexandria port remained Egypt's most active export hub, handling 31.1% of total outbound trade. Cairo International Airport followed with 14.8%, while the 10th of Ramadan Dry Port, Damietta, Suez, and Dekheila also played significant roles in facilitating export activities. On the import side, Egypt recorded a sharp increase in 2024, with total imports rising to $95.3bn, up 13.2% from $84.2bn in 2023. Non-oil imports reached $79.2bn, reflecting a 9.2% year-on-year increase, while oil imports soared by 38.3% to $16.1bn. This significant rise in oil-related imports was attributed to higher global energy prices and growing domestic demand for refined products. CAPMAS data showed that intermediate goods constituted the largest category of imported products, making up 35.8% of the total. Fuel accounted for 17.3%, while non-durable consumer goods and investment goods represented 16.0% and 14.6%, respectively. Despite the overall rise in imports, some commodities saw year-on-year declines. Maize imports fell by 8.5% to $2.3bn. Wood and wood products declined slightly to $1.2bn, down 2.4%, while crude oil imports dropped dramatically by 50.5% to just $0.9bn. China retained its position as Egypt's largest import source, accounting for 16.5% of total imports. Egyptian imports from China rose to $15.7bn in 2024, up from $13.2bn the previous year, reflecting an 18.7% increase. Saudi Arabia came in second with 8.3%, as imports from the Kingdom surged 43.9% to $7.9bn. The United States ranked third, with imports increasing 48.6% to $7.6bn. Russia followed at fourth place, with imports climbing 21.7% to $6.1bn. Regionally, Asia remained Egypt's primary source of imports, contributing 30.6% to the total. Western Europe and Eastern Europe followed, accounting for 21.5% and 16.5%, respectively. On the logistics front, the Port of Alexandria was once again the busiest gateway for inbound shipments, handling 22.1% of total imports. Cairo International Airport followed closely with 20.8%. Other major import entry points included Ain Sokhna with 12.3%, Dekheila with 11.7%, Damietta with 10.9%, and Suez with 9.9%. Egypt's trade performance in 2024 reflects a dual trend of export diversification and increasing reliance on imported goods, particularly energy-related commodities. While growth in non-oil exports suggests improving competitiveness in key manufacturing sectors, the widening trade gap underscores the ongoing need to strengthen local production capabilities and reduce dependency on imports. Looking ahead, economic policymakers will likely focus on enhancing industrial output, expanding trade partnerships, and improving logistics infrastructure to sustain export momentum and mitigate external vulnerabilities.
