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Egypt's Exports to African Union Grow by 4.7% amid Deepening Economic Ties

Taarek Refaat 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. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream