Arab Finance: Egypt’s exports to the US dropped 15.5% year on year (YoY) in 2023 to $1.9 billion, compared to $2.3 billion, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced.

The North African country’s exports to the US accounted for 4.6% of total Egyptian exports to the world.

Egyptian exports of ready-made garments made up the lion’s share with 53.1% of total exports to the US, reaching $1 billion last year, marking a 21.7% YoY decrease from $1.3 billion.

Meanwhile, Egypt’s imports from the US went down 22.7% YoY in 2023 to $5.4 billion from $6.9 billion, representing 6.4% of the country’s total imports worldwide.

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