Oil imports have stabilized at $13.4 billion in fiscal year (FY) 2023/24, as a reflection of the decrease in the crude oil imports by $2.5 billion, due to the lower imported quantities.

In the meantime, the imports of both petroleum products and natural gas grew by $1.9 billion and $556.8 million, in order due to their higher imported quantities, according to the 2023/24 Balance of Payments Performance issued by the Central Bank of Egypt (CBE) in October.

The total petroleum imports value reached $13.3718 billion, which is very close to the $13.4065 worth imports made in 2022/23.

Meanwhile, petroleum exports value reached $5.7225 billion in 2023/24, a 58.6% decrease compared to $13.8165 billion in 2022/23.