Egypt Sees Rise in Oil Exports Despite Overall Decrease in Trade

Egypt's trade figures for February 2024 reveal a mixed picture, with a notable increase in oil exports balanced by a slight decline in overall exports and imports.

According to official data, Egyptian oil exports surged by 26 percent in February compared to the same month in the previous year. This positive development comes alongside a significant rise in the value of fuel product exports, which reached USD 160 million in February 2024, a 25.98 percent increase compared to February 2023. This suggests a potential growth in refined fuel exports, such as gasoline or diesel.

However, overall Egyptian exports in February 2024 stood at approximately USD 3.36 billion, which is a 4.7 percent decrease compared to the USD 3.52 billion recorded in February 2023.

Import figures for February 2024 also show a slight decrease of 2.4 percent. The value of imports reached USD 6.08 billion in February 2024, down from USD 6.23 billion in February 2023.