During the first half of fiscal year (FY) 2024/25, Egypt’s petroleum imports value increased by 53.3% to reach $9.7 billion, compared to $6.3 billion in the first half (H1) of FY 2023/24. Imports of natural gas grew by $2.1 billion, and imports of petroleum products by $1.2 billion, while crude oil imports increased by $58.7 million, due to the increase in imported amounts, according to the Balance of Payment (BoP) performance report for H1 FY 2024/25.

On the other hand, the value of Egypt’s petroleum exports dropped by 7% to around $3 billion, compared to $3.2 billion during the same period of FY 2023/24. This comes as the value of crude oil exports decreased by $714.3 million, and natural gas by $265.3 million, due to the decrease in the exported amounts and average prices. Meanwhile, the value of petroleum products exports grew by $755 million due to the increase in exported amounts.

Foreign Direct Investments (FDIs) to the petroleum sector dropped by around 53.4%, recording net inflows of $196.9 million during H1 FY 2024/25, compared to $422.2 million in H1 FY 2023/24.