Egypt's Exports to African Union Grow by 4.7% amid Deepening Economic Ties
Egypt's total exports to African Union (AU) countries rose by 4.7% in 2024, reaching $7.7 billion, up from $7.4 billion in 2023, according to figures released Saturday by Egypt's Central Agency for Public Mobilization and Statistics (CAPMAS).
The data comes as President Abdel Fattah El-Sisi heads to Malabo, the capital of Equatorial Guinea, to attend the Seventh AU Coordination Summit, which is reserved for a select group of African leaders. Egypt currently chairs the AU North Africa Regional Mechanism and the Heads of State and Government Orientation Committee for the African Union Development Agency (NEPAD).
Libya Tops Egypt's African Export Markets
Libya remained Egypt's largest African trading partner in 2024, with exports totaling $2 billion. Other key markets included:
Morocco – $1 billion
Algeria – $996 million
Sudan – $866.2 million
Tunisia – $372 million
Kenya – $307 million
Ivory Coast – $251 million
Ghana – $239 million
Nigeria – $151 million
Madagascar – $132 million
Top Egyptian Exports to Africa
A wide range of Egyptian products found strong demand across the continent, with the following topping the export list:
Cement, gypsum, and salt – $694.4 million
Plastics and related products – $590.5 million
Milled grain products – $397 million
Electrical machines and devices – $357.8 million
Iron and steel – $289.4 million
Stone and cement-based products – $279.2 million
Egyptian Imports from Africa Jump 14.5%
On the import side, Egypt's purchases from African Union countries grew by 14.5%, reaching $2.1 billion in 2024, up from $1.8 billion in 2023.
The Democratic Republic of the Congo led the list of African exporters to Egypt, delivering goods worth $661.9 million, followed by:
Sudan – $292.4 million
Kenya – $260.1 million
Nigeria – $165.5 million
South Africa – $154.3 million
Zambia – $64 million
Libya – $56.4 million
Tunisia – $49.9 million
Key imported items included:
Copper and its products – $741.5 million
Coffee and tea – $286.6 million
Fuels and mineral oils – $203.7 million
Live animals – $147.6 million
Oilseeds and grains – $109.4 million
Vehicles and tractors – $85.3 million
Cotton – $80.9 million
Iron and steel – $73.6 million
Trade Volume Reaches $9.8 Billion in 2024
Overall trade between Egypt and the African Union reached $9.8 billion, up from $9.2 billion the year before—a 6.5% increase that underscores Cairo's deepening economic engagement with the continent.
Remittances and Investment Dip
Despite the trade growth, the report highlighted a decline in remittances and mutual investment.
Egyptian worker remittances from AU countries fell to $115.8 million in the 2023/2024 fiscal year, down from $122 million the previous year. Nigeria was the largest source of remittances at $9.3 million, followed by Kenya, Morocco, Tanzania, and Mauritius.
Conversely, remittances from African nationals working in Egypt dropped to $23.6 million, with South Africa topping the list.
Foreign Direct Investment Declines Sharply
African Union investments in Egypt fell to $831.2 million in 2023/2024, from $1.6 billion the previous fiscal year.
Meanwhile, Egyptian investments in AU countries dipped slightly to $499.1 million, down from $504.6 million.
CAPMAS also estimated that 59,100 Egyptians were residing across African Union states as of the end of 2023.
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