File Photo: Containers being transferred on a Cargo ship in port of Alexandria. Al-Ahram.
On a monthly basis, the deficit jumped by 40 percent from $3.3 billion in September 2025.
The increase came as exports slipped by 1.1 percent to $4.17 billion in October 2025, compared with $4.22 billion in October 2024.
Export growth was driven by ready-made garments, which rose by 9.2 percent, followed by pasta and other food preparations, up 34.8 percent, and fertilizers, which increased by 6.6 percent.
Other export items declined, including petroleum products, which fell by 29.6 percent; plastics in primary form, down 22.2 percent; and fresh fruit, which dropped by 13.4 percent.
Egypt’s top export destinations in October 2025 were the United Arab Emirates, which recorded a 134.9 percent increase YoY, followed by Italy, up 26.1 percent, while exports to Turkey fell by 5.4 percent.
Imports edged up by 0.18 percent to $8.75 billion, compared with $8.74 billion in October 2024. The rise was driven by higher imports of natural gas, which surged by 72.9 percent; corn, which increased by 27.6 percent; and non-monetary raw gold, which jumped by 513.2 percent.
Other import categories declined, including petroleum products, which fell sharply; wheat, down 8.4 percent; and raw steel materials, which dropped by 16.4 percent.
China was Egypt’s top source of imports in October 2025, with imports rising by 21.9 percent, followed by the United States, up 72.9 percent, and Saudi Arabia, which increased by 19.3 percent.
Egypt recorded a balance of payments deficit of $1.6 billion in the first quarter of fiscal year 2025/2026, widening by about 61.4 percent from $991.2 million a year earlier. The shortfall was partially contained by higher remittances, tourism revenues, and Suez Canal transit fees.
Egypt aims to raise annual exports to $115.8 billion by 2030, lower than the $145 billion target announced in January 2024, according to the country’s development narrative. The plan also focuses on export-oriented industries and targets economic growth of 7.5 percent by 2030.
The cabinet has directed export councils to draw up plans to boost non-oil exports by 15–20 percent annually through 2030 and to increase the industrial sector’s share of GDP from 14 percent to 20 percent by the same year.
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