The Arab Republic of Egypt, a Mediterranean country that connects Africa’s northeast corner with Asia’s southwest corner via the Sinai Peninsula’s land bridge, imported 60.3 billion dollars in goods in 2020.
This figure represents a minus 14.7 percent decrease since 2016 and a minus 23.4 percent decrease from 2019 to 2020.
China with 15 percent, the United States with 6.7 percent, Saudi Arabia with 6.3 percent, Germany with 5.8 percent, Turkey with 4.9 percent, Italy with 4.3 percent, Russia with 4.2 percent, India with 3.8 percent, Kuwait with 3.3 percent, Brazil with 3.2 percent, Ukraine with 2.6 percent, and Spain were the top suppliers, accounting for 57 percent of Egypt’s international purchases.
From a continental standpoint, Asian countries accounted for 47 percent of Egypt’s total imports by value. European trading partners accounted for 37.3 percent of Egypt’s total import purchases.
Exporters in North America with 7.7 percent, Latin America with 5.3 percent excluding Mexico but including the Caribbean, Africa with 2 percent, and Oceania with 0.8 percent, led by Australia and New Zealand, had lower percentages.
Given Egypt’s population of 100.9 million people, the country’s total 60.3 billion dollars in 2020 imports equates to approximately 600 dollars in average yearly product demand from each individual in the northeast African country.
Egypt’s Top 10 Imports
During 2020, the following product groups have the highest dollar value in Egypt’s import purchases. The percentage share of each product category in terms of total imports into Egypt is also shown.
Mineral fuels, including oil, totaled 7.1 billion dollars which is 11.7 percent of total imports
5.3 billion dollars for machinery, including computers standing at 8.7 percent
Cereals are worth 4.6 billion dollars which is 7.7 percent
4.6 billion dollars for automobiles accounting for 7.7 percent
4 billion dollars in electrical machinery and equipment account for 6.6 percent
Plastics and plastic products with 3 billion dollars account for 4.9 percent
2.6 billion dollars for iron and steel account for 4.4 percent
2.3 billion dollars in pharmaceuticals account for 3.8 percent
1.9 billion dollars for oil seeds account for 3.2 percent
1.9 billion dollars for iron or steel articles account for 3.2 percent
Egypt’s top ten imports accounted for nearly three-fifths of the total value of its product purchases from other countries which is 57.7 percent.
From 2019 to 2020, none of the top import categories mentioned previously grew.
The electrical machinery or equipment was down by minus 42.4 percent and mineral fuels including oil was down by minus 36.1 percent product categories led the decliners.
The latter was weighed down by Egyptian imports of refined petroleum oils and gases, which were declining.
Egypt’s Major International Trade Partners
According to the most recent country-specific data, 53.8 percent of Egyptian exports were purchased by importers in the following countries: the United Arab Emirates with 10.7 percent of the global total, Saudi Arabia with 6.4 percent, Turkey with 6.2 percent, the United States with 5.5 percent, Italy with 5.2 percent, India with 4.6 percent, Spain with 2.8 percent, the United Kingdom with also 2.8 percent, Canada with 2.6 percent, Greece with 2.5 percent, China with 2.2 percent, and Germany with 2.1 percent.
From a continental standpoint, 45.8 percent of Egypt’s exports were delivered to Asian countries, while 28.9 percent were sold to European importers.
Egypt shipped another 14.3 percent of its goods to African trading partners.
North America with 8.3 percent, Latin America excluding Mexico but including the Caribbean with 1.8 percent, and Oceania, led by Australia, received smaller percentages of 0.9 percent.
With a population of 100.9 million people, Egypt’s total 26.8 billion dollars in 2020 exports equates to approximately 270 dollars for each resident of the transcontinental nation.
Egypt’s Top 10 Exports
Mineral fuels, including oil, are worth 4.7 billion dollars which account for 17.6 percent of total exports
3 billion dollars in gems and precious metals accounts for 11 percent
Plastics and plastic products at 1.7 billion dollars account for 6.5 percent
1.6 billion dollars for electrical machinery and equipment account for 5.8 percent
1.5 billion dollars for fruits and nuts account for 5.4 percent
Fertilizers are worth 1.2 billion dollars which account for 4.3 percent
1 billion dollars for vegetables account for 3.9 percent
891.8 million dollars for clothing and accessories account for 3.3 percent
696.2 million dollars for iron and steel account for 2.6 percent
571.7 million dollars for perfumes and cosmetics accounting for 2.1 percent
Egypt’s top ten exports accounted for 62.6 percent of total global shipments.
Gems and precious metals were the fastest-growing export category among the top ten, increasing by 44.3 percent between 2019 and 2020.
This increase was fueled by increased Egyptian gold sales on international markets.
The only other two year-over-year increases were for fruits and nuts up by 2.6 percent and iron or steel as a material up by 2.6 percent.
Mineral fuels, including oil, were the leading decliner among Egypt’s top ten export categories, with a minus 41.8 percent annual drop, weighed down by lower revenues for both refined and crude petroleum oils, as well as petroleum gas.
Unwrought gold is the top export which is 10.9 percent of all Egyptian exported goods at the more granular 4-digit Harmonized Tariff System code level in 2020.
Processed petroleum oils with 10.8 percent came in second, followed by crude oil at 4.5 percent, nitrogenous fertilizers at 3.5 percent, fresh or dried miscellaneous citrus fruit at 3 percent, television receivers, monitors, and projectors at 2.7 percent, insulated wire or cable with 1.9 percent, petroleum gases with also 1.9 percent, unknitted and non crocheted men’s suits and trousers with 1.6 percent, knitted or crocheted t-shirts and vests with 1.6 percent.
In macroeconomic terms, Egypt’s total exported goods account for 2 percent of its total GDP in 2020 valued at 1.346 trillion in Purchasing Power Parity US dollars.
In 2020, exports will account for 2 percent of total GDP in PPP terms, up from 1.8 percent in 2019.
Based on these metrics, Egypt’s total economic performance appears to be becoming increasingly dependent on products sold in international markets, albeit over a relatively short timeframe. The unemployment rate is another important indicator of a country’s economic performance.
According to IMF data, Egypt’s average unemployment rate for 2020 was 8.296 percent, down from an average of 8.612 percent a year earlier.
Cairo is Egypt’s capital city.