"Ministers’ information" A report is issued "Non-oil commodity exports" For the second quarter of 2024
The Information and Decision Support Center of the Council of Ministers issued the fourteenth issue of the “Non-oil Merchandise Exports” report, which is a quarterly publication that deals with a general overview of the structure of the Egyptian trade balance and the development of non-oil commodity exports. It also deals with a presentation of the trade balance between Egypt and The most important trading partners, in addition to the export opportunities for Egyptian exports to the largest markets and target markets in the short, medium and long term. The first section of the report shed light on the structure of the Egyptian non-oil trade balance during the period (second quarter 2023 – second quarter 2024), where the value of… Non-oil exports reached $9.7 billion during the second quarter of 2024, compared to about $8.4 billion during the same quarter of 2023, an increase of about 15.5%. The value of Egyptian non-oil imports reached $17.6 billion during the second quarter of 2024, compared to about $15.9 billion. During the same quarter of 2023, an increase of about 10.7%.
The development of the volume of Egyptian exports of non-petroleum goods was also reviewed according to the highest commodities during the second quarter of 2024. "Natural or cultured pearls and gemstones" At the forefront of Egyptian exports of non-petroleum goods in terms of value during the second quarter of 2024 was about $1 billion, compared to about $274.3 million during the same period in 2023, followed by “edible fruits and nuts.” It recorded about $808.7 million during the second quarter of 2024, compared to about $670.4 million during the same period in 2023, and in connection, according to the top 10 non-petroleum commodities exported during the second quarter of 2024, eight goods witnessed an improvement during the second quarter of 2024 compared to the same period in 2023. Including “natural or cultured pearls and precious stones, edible fruits and citrus peels, machinery, appliances and electrical equipment and their parts, vegetable preparations and edible peeled fruit or fruit preparations, plastics and their products, edible vegetables, plants, roots and tubers, and fertilizers.”
In the same context, the relative weight of some groups of non-petroleum goods in Egypt’s total exports of non-petroleum goods increased during the second quarter of 2024 compared to the same quarter of 2023, the most important of which were natural or cultured pearls and precious stones (from 3.3% to 10.6%), edible fruits and peels and citrus peels (from 8% to 8.3%), machinery, appliances and electrical equipment and their parts (from 7.5% to 7.8%), and preparations of vegetables and preparations of peeled fruits or fruits (from 2.5% to 3 %), while the relative weight of some groups of non-petroleum goods in Egypt’s total exports of non-petroleum goods decreased during the second quarter of 2024 compared to the same quarter of 2023, the most important of which were plastics and their products (from 6.6% to 6.1%), and vegetables, plants, roots, and edible tubers. (from 5.4% to 4.8%), and fertilizers (from 5.1% to 4.5%).
With regard to the development of the volume of Egyptian exports of non-petroleum goods according to the goods whose value increased Its exports during the second quarter of 2024 were “natural or cultured pearls and precious stones.” At the forefront of exported goods, of which Egypt’s exports rose to record about $1,034.7 million during the second quarter of 2024, compared to about $274.3 million during the second quarter of 2023, an increase of $760.4 million, came “edible fruits and berries, and citrus peels.” In second place, the value of Egypt’s exports amounted to about $808.7 million during the second quarter of 2024, compared to about $670.4 million during the second quarter of 2023, an increase of $138.3 million. In third place came “machinery, appliances, electrical equipment and their parts.” The value of Egypt’s exports was recorded at $756.2 million during the second quarter of 2024, compared to $628.1 million during the second quarter of 2023, an increase of $128.1 million. The group of natural or cultured pearls and precious stones came as the highest commodity in terms of relative importance among the commodities whose exports increased. Egypt, of which during the second quarter of 2024 compared to the same quarter of 2024 by 10.6%, followed by edible fruits and peels and citrus peels by 8.3%.
As for the development of the volume of exports Non-petroleum According to the commodities whose exports decreased during the second quarter of 2024, “cast iron (cast iron) and iron and steel (steel)” came At the top of the list of goods of which Egypt’s exports declined to record about $424 million during the second quarter of 2024, compared to about $629 million during the second quarter of 2023, a decrease of $205 million, came “inorganic chemical products and organic or inorganic compounds.” In second place, the value of its exports recorded about $157.9 million during the second quarter of 2024, compared to about $216.3 million during the second quarter of 2023, a decrease of $58.4 million, and “sugar and sugar products” came in second place. In third place, the value of exports was recorded at about $103.2 million during the second quarter of 2024, compared to about $148.7 million during the second quarter of 2023, a decrease of $45.5 million. Relatedly, the group of cast iron (cast iron) and iron and steel (steel) came as the highest commodity in terms of relative importance. Among the commodities of which Egypt’s exports decreased during the second quarter of 2024 by 4.4%, it was followed by the group of salt, sulfur, earth, stones and gypsum materials by 3.7%.
With regard to the value of exports Non-oil goods according to the major markets during the second quarter of 2024. The United Arab Emirates was the largest importer of Egyptian non-oil goods during the second quarter of 2024, with a value of $1.1 billion, which represents 10.8% of the total Egyptian exports of non-oil goods, followed by the Kingdom of Saudi Arabia, with a value of 689.5 million. Dollars, at a rate of 7.1%, then Turkey came in third place, with a value of $655.6 million, at a rate of 6.7%, then Italy in fourth place, with a value of $550.4 million, at a rate of 5.7%, then the United States of America came in fifth place, with a value of $522 million, at a rate of 5.4%.
As for the untapped export opportunities for Egyptian exports in major markets, the United States of America is the largest market for Egypt in terms of untapped export opportunities with a value of $2.4 billion, followed by Turkey with a value of $1.5 billion. Then the United Arab Emirates with about $1.4 billion, then the Kingdom of Saudi Arabia with $1.3 billion.
The third section of the report reviewed the trade balance between Egypt and the most important trading partners during the period ( Second quarter 2023 – Second quarter 2024), where the People’s Republic of China came as Egypt’s most important trading partner with a trade exchange volume of $3.3 billion during the second quarter of 2024, followed by the Russian Federation with a trade exchange volume of $1.72 billion, then the United States of America with a trade exchange volume of $1.65 billion. Then the United Arab Emirates, with a trade volume of $1.5 billion, then Turkey, with a trade volume of $1.3 billion, and Saudi Arabia, with a trade volume of $1.2 billion.
With regard to the non-oil trade balance between Egypt, the most important Trading partners during the second quarter of 2024. China came at the forefront of the countries with which Egypt achieved a trade deficit during the second quarter of 2024, with a trade deficit amounting to $3.1 billion, followed by the Russian Federation with a value of $1.4 billion, then Ukraine with a value of $688.9 million.
Egypt’s trade deficit with the People’s Republic of China increased by $627.8 million during the second quarter of 2024 compared to the second quarter of 2023, while the value of Egypt’s trade deficit with Ukraine decreased by about $93.9 million during the quarter. The second quarter of 2024 compared to the second quarter of 2023.
As for the non-oil trade balance between Egypt and the Nile Basin countries during the period (the second quarter of 2023 – The value of Egypt’s non-oil trade surplus with the Nile Basin countries reached $23.5 million during the second quarter of 2024, compared to $73.6 million during the first quarter of 2024, a decrease of 68.1%. The value of Egyptian non-oil imports from the Nile Basin countries reached Nile River: $332 million during the second quarter of 2024, compared to about $247.7 million during the first quarter of 2024, an increase of about 34%. As for the value of Egyptian non-oil exports to the Nile Basin countries, it amounted to $355.5 million during the second quarter of 2024, compared to About $321.2 million during the first quarter of 2024, an increase of about 10.7%.
With regard to Egyptian non-petroleum exports to the Nile Basin countries during the second quarter of 2024, Sudan came at the forefront The Nile Basin countries importing non-petroleum Egyptian goods during the second quarter of 2024, with a value of $207.8 million, followed by Kenya, with a value of $65.9 million, while Eritrea was the least importing of Egyptian non-petroleum goods during the second quarter of 2024, with a value of $0.2 million. As for non-Egyptian imports, Petroleum production from the Nile Basin countries during the second quarter of 2024. The Democratic Republic of the Congo came at the forefront of the countries from which Egypt imports non-petroleum goods during the second quarter of 2024, with a value of $131.9 million, then Kenya with a value of $104.4 million, while South Sudan came as the least of the countries from which Egypt imports non-petroleum goods. Petroleum Corporation during the second quarter of 2024, at a value of $0.1 million.
