Egypt’s non-petroleum merchandise exports record $3.1B during 2024

Egypt's non-petroleum merchandise exports experienced a $325 million increase in July, to record $3.1 billion, marking a 12 percent growth compared to July 2023's $2.8 billion.as confirmed by Essam El-Naggar, the Chairman of the General Organization for Export and Import Control (GOEIC). El-Naggar Merchandise exports surpassed $24 billion in the first seven months of 2024. He further noted that Egyptian imports for July reached around $6.5 billion, up from $6.2 billion in July 2023, reflecting a 4 percent increase. In August, the Central Agency for Public Mobilization and Statistics (CAPMAS) reported a 10.3 percent reduction in Egypt's trade deficit in May, dropping to $3.5 billion from the previous year's $3.9 billion during the same period. Notably, May exports saw a marginal uptick of 0.4 percent, reaching $3.81 billion compared to $3.79 billion in the corresponding period of the preceding year. This growth was primarily fueled by increased exports of select commodities, such as fresh fruits by 17.4 p ercent, ready-made clothing by 5.5 percent and pastries and food preparations by 32.2 percent. Source: State Information Service Egypt