Egypt’s trade with the Group of Seven (G7) nations experienced substantial growth in 2024.
The G7, or Group of Seven, is an intergovernmental body made up of seven of the world’s largest advanced economies: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.
According to new data from the Central Agency for Public Mobilization and Statistics (CAPMAS), bilateral trade reached approximately USD 29.7 billion (EGP 1 trillion), a 14.2 percent increase from USD 26 billion (EGP 1.31 trillion) in 2023.
This growth underscores Egypt’s expanding role in the global market, particularly with the world’s leading economies, the G7, which include the United States, Germany, France, the United Kingdom, Italy, Canada, and Japan.
The figures reveal that Egypt’s exports to G7 countries rose to around USD 9.5 billion (EGP 478 billion), marking a 10.5 percent increase from USD 8.6 billion (EGP 433 billion) the previous year.
Italy emerged as the largest importer of Egyptian goods, accounting for USD 3.4 billion (EGP 171 billion), followed by the United States with USD 2.2 billion (EGP 110 billion) and the United Kingdom at USD 1.6 billion (EGP 80 billion).
Key exports included mineral fuels, ready-made garments, electrical machinery, and agricultural products, illustrating the diversity of Egypt’s export portfolio.
On the import side, Egypt’s total imports from G7 nations surged to USD 20.2 billion (EGP 1.18 trillion), up from USD 17.4 billion (EGP 877 billion) in 2023, a notable 16.1 percent increase.
The United States was the leading source of these imports, contributing USD 7.6 billion (EGP 383 billion), followed by Germany and Italy.
The range of imports included essential goods such as mineral fuels, electrical appliances, and pharmaceuticals, which reflects Egypt’s reliance on G7 countries for some critical supplies.
Foreign direct investment (FDI) from G7 nations also showed substantial growth, reaching USD 9.2 billion (EGP 463 billion) in the 2023/2024 fiscal year, up from USD 8.1 billion (EGP 408 billion) the previous year.
The United States led with USD 3 billion (EGP 151 billion) in investments, followed closely by the United Kingdom and Italy.
The ongoing economic cooperation indicates a promising future for Egypt’s international trade relations, particularly with its G7 partners, according to sources.
(Except for the headline, this story has not been edited by PostX News and is published from a syndicated feed.)
