Egypt’s non-oil trade deficit has narrowed substantially in the first four months of 2025 amid a surge in exports, according to local media.
The non-oil trade deficit, the difference between the value of exports and imports, fell 28 percent to $8 billion, Ashraq News, an Arabic news portal, reported citing a government document.
Non-oil commodity exports jumped 27 percent year on year between January and April to $17 billion. Imports also rose by 1 percent year on year to $25 billion.
Egypt is aiming to attract $60 billion in foreign direct investment and increase its annual exports to $145 billion by 2030, minister of planning, economic development and international cooperation Rania Al-Mashat told the Focus Africa Trade and Investment Forum in April.
Egyptian exports grew by 5.4 percent in 2024 to $45 billion, including $39 billion in non-oil exports, the report said, quoting data from the Central Agency for Public Mobilization and Statistics.
Economic activity recovered in the first quarter of 2025, with real GDP growth projected at 5 percent compared to 4.3 percent in the fourth quarter of 2024, the central bank said.
In April, the International Monetary Fund (IMF) projected Egypt’s economy to grow by 3.8 percent in 2025. However, the World Bank increased its growth forecast to 4.2 percent for 2025-2026 from 3.5 percent in 2024-2025. The financial year begins in July.
