Close Menu
    What's Hot

    Transport Evolution Africa 2025 Champions Green Mobility & Inclusive Trade Corridors

    July 9, 2025

    Egypt’s Swypex Launches Approval‑Based Spend‑Control Card for SMEs

    July 7, 2025

    Ghana’s Complete Farmer Secures $2.5M from EU-Funded AgriFI Facility

    July 4, 2025
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      Salpha Energy Secures $1.3M to Expand Nigeria’s Solar Manufacturing Capacity

      June 6, 2025

      South Africa – Infrastructure Overhaul Set to Boost Transport and Trade

      May 16, 2025

      Navigating Challenges in the African Air Cargo Industry

      March 5, 2025
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      Egypt’s Swypex Launches Approval‑Based Spend‑Control Card for SMEs

      July 7, 2025

      Liquify Secures $1.5M Seed Round to Unlock Trade Finance for African SMEs

      July 3, 2025

      Hizo Secures $100K Seed Round to Drive Intra‑Africa Payment Innovation

      June 30, 2025
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      DP World and Nedbank Elevate Trade Finance in Africa

      Finance Trade September 18, 2024
      Recent

      DP World and Nedbank Elevate Trade Finance in Africa

      September 18, 2024

      Arab Coordination Group commits $50 billion for Africa’s sustainable development

      November 13, 2023

      MENAT to see investment flows increase substantially

      September 4, 2023
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    Business & Trade

    Egypt’s trade deficit sees 23.8% surge in April 2023

    July 6, 20233 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    trade deficit
    While shifting prices have increased the deficit, some commodities, such as iron ore, have increased in price.
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Trade deficit increases as declining exports and decreased imports impact overall trade balance.

    Egypt witnessed a significant increase in its trade deficit during April 2023, with exports experiencing a sharp decline while imports faced a notable decrease. The Central Agency for Public Mobilization and Statistics (CAPMAS) reports a 23.8% rise in the trade deficit compared to the same month in the previous year.

    Decreased exports impact Egypt’s trade deficit

    Egypt’s exports recorded a substantial decline of 44.9%, amounting to USD 3.03 billion in April 2023, in contrast to USD 5.50 billion during the same period last year. This downturn can be attributed to a decrease in the value of various commodities, including a significant drop of 75.6% in natural gas, 58.8% in fruits, 48.2% in crude oil, and 34.1% in ready-made clothes, according to CAPMAS.

    However, it’s worth noting that certain commodities experienced an increase in export value during April 2023 compared to the same month in the previous year. Notably, wires of iron saw a remarkable surge of 568.8%, pasta and various food stuffs rose by 35.6%, onion exports increased by 65.8%, and dairy products witnessed a modest growth of 1.4%.

    Decreased imports reflect shifting trade patterns

    In April 2023, Egypt observed a decline of 27.4% in the value of imports, reaching USD 5.36 billion compared to USD 7.38 billion in the same month the previous year. This reduction can be attributed to the decreased value of specific commodities, including a 1.4% decline in wheat, 2.1% in chemicals, 33.6% in plastics in their primary forms, and 52.4% in the raw materials of iron and steel.

    Nevertheless, imports of certain commodities exhibited an upward trend in April 2023 compared to the same month in the previous year. Notably, petroleum products experienced a growth of 13.8%, corn imports surged by 61.3%, natural gas increased by 16.6%, and iron ores and concentrates saw a modest rise of 5.2%.

    Impact on Egypt’s trade dynamics

    The notable increase in Egypt’s trade deficit during April 2023 highlights the significance of export and import patterns in the country. While declining exports, particularly in key sectors such as natural gas, fruits, crude oil, and ready-made clothes, have contributed to the overall trade imbalance, there have been positive developments in the export of wires of iron, pasta, onion, and dairy products.

    Similarly, the decrease in import value, mainly driven by reduced imports of wheat, chemicals, plastics, and the raw materials of iron and steel, has impacted the trade dynamic. However, the import growth of petroleum products, corn, natural gas, and iron ores and concentrates signifies evolving trends in Egypt’s import landscape.

    As Egypt navigates these shifts in trade patterns, it will be crucial for stakeholders to closely monitor and strategize to address the challenges and seize the opportunities that emerge in the dynamic global marketplace.

    For more commodities and trade news, visit our archives.

    Commodities Egypt trade
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleTanzania – Exports to Iran increase by 35% in 2021/22 fiscal year
    Next Article Africa50 invests USD 6.6bln in infrastructure over 6 years

    Related Posts

    Logistics Trade

    Transport Evolution Africa 2025 Champions Green Mobility & Inclusive Trade Corridors

    July 9, 2025
    Business & Trade

    Egypt’s Swypex Launches Approval‑Based Spend‑Control Card for SMEs

    July 7, 2025
    Trade Trade Finance

    Liquify Secures $1.5M Seed Round to Unlock Trade Finance for African SMEs

    July 3, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    LATEST STORIES

    Transport Evolution Africa 2025 Champions Green Mobility & Inclusive Trade Corridors

    July 9, 2025

    Egypt’s Swypex Launches Approval‑Based Spend‑Control Card for SMEs

    July 7, 2025

    Ghana’s Complete Farmer Secures $2.5M from EU-Funded AgriFI Facility

    July 4, 2025

    Liquify Secures $1.5M Seed Round to Unlock Trade Finance for African SMEs

    July 3, 2025

    Hizo Secures $100K Seed Round to Drive Intra‑Africa Payment Innovation

    June 30, 2025
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.