Egypt recorded a trade deficit of 3220 USD Million in October of 2019. Balance of Trade in Egypt averaged -884.62 USD Million from 1957 until 2019, reaching an all time high of 235.50 USD Million in January of 2004 and a record low of -5056.10 USD Million in August of 2014. source: Central Agency for Public Mobilization and Statistics
Balance of Trade in Egypt is expected to be -4600.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Egypt to stand at -4300.00 in 12 months time. In the long-term, the Egypt Balance of Trade is projected to trend around -4340.00 USD Million in 2020, according to our econometric models.
Egypt Balance of Trade
Egypt has been recording trade deficits since 2004, as imports have grown at a faster rate than exports, mostly due to a rise in petroleum and wheat imports. The major exports are oil and other mineral products, chemicals, agricultural products, livestock and textiles. Egypt imports mineral and chemical products, agricultural products, livestock and foodstuff, machinery and electrical equipment and base metals. Main trading partners are the European countries (38 percent of total exports and 31 percent of total imports) and the Arab countries (28 percent of exports and 13.5 percent of imports). Others include: United States, China and India.