Trade Lower oil exports widen Egypt’s trade deficit By Nadim Kawach March 6, 2025, 6:58 PM Alamy A date palm orchard in Memphis, Egypt: exports of fresh fruit were up 23% in December Crude oil exports down 66% Gas imports double Fruit exports up 23% Sharply lower crude oil exports allied with a surge in imports of gas caused Egypt’s trade deficit to widen by nearly 13 percent in December, implying a call on foreign exchange reserves, official data showed on Tuesday. Total exports increased slightly to $3.7 billion in December 2024 from $3.6 billion in December 2023, the country’s Central Agency for Public Mobilisation and Statistics said in its March bulletin. But imports grew faster, rising by 11 percent to $8.1 billion from $7.3 billion during the same period, the bulletin said. Egypt’s net foreign assets jump in January Egypt’s economic growth likely to accelerate, says bank Egyptian agricultural exports hit record levels The rise in imports was mainly due to gas imports more than doubling after a government decision to import more feedstock for power facilities, the bulletin showed. As a result, Egypt’s trade deficit, the difference between the value of exports and imports, swelled to $4.2 billion last December, from $3.7 billion in December 2023, it said. The value of petroleum products exports leaped by 128 percent, while fresh fruit exports were up 23 percent, foodstuffs up 37 percent and ready made clothes up 18 percent. But there were sharp falls in the exports of crude oil, which dived by around 66 percent, and fertilisers, down 48 percent.
