Egypt’s Petroleum Trade Balance Achieves Surplus of EGP 46.4B in 2021

Egypt’s Petroleum Trade Balance Achieves Surplus of EGP 46.4B in 2021

The Ministry of Petroleum and Mineral Resources announced that the Egyptian petroleum trade balance achieved a surplus of EGP 46.4 billion in 2021.

It noted that the petroleum trade balance changed from being in deficit to achieving a surplus for the first time of EGP 9.9 billion in fiscal year (FY) 2018/19.

Also, according to the data released by the ministry, Egyptian petroleum exports have grown by 84.3% in 2021 recording $13 billion compared to $7 billion in 2020.

It added that this increase reflected on the value of natural gas and liquified natural gas (LNG) exports which jumped 770% in 2021. This came from the reoperation of Damietta LNG plant which stooped for eight years in addition to the operation of Idku plant.

Moreover, the data showed that Egypt exported LNG worth $3.9 billion during the period from January to April 2022.

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