Value of Egypt’s Oil Imports Drops in Q1 2023/24

Value of Egypt’s Oil Imports Drops in Q1 2023/24
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The value of Egypt’s oil imports has declined by $891.1 million to reach $2.9 billion, during the first quarter of fiscal year (FY) 2023/24.

This is due to a retreat in imports value of both crude oil by $937.0 million and oil products by $96.1 million, according to the Central Bank of Egypt (CBE)’s Balance of Payments (BOP) Performance.

Meanwhile, natural gas imports grew by $142.0 million, due to the pickup in the imported quantities.

Meanwhile, the exports of crude oil grew by $299.6 million, because of the rise in the exported quantities.

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Sarah Samir 3496 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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