Egypt’s petroleum imports decreased by $138.1 million, during fiscal year 2022/23, according to the Central Bank of Egypt’s (CBE) Balance of Payment. This comes as a result of a decrease in crude oil imports by $1.2 billion, which is higher than exceeding the increase in imports of both natural gas by $716.3 million and petroleum products be $392.8 million.

Meanwhile, Egypt’s petroleum exports fell by $4.2 billion, as a result of the decrease in petroleum products exports by $1.7 billion, crude oil exports by $1.5 billion, and natural gas exports by $988.1 million.