9,317.24 TRY BIST 100 BIST 100
38.07 USD USD USD
5.24 CNY CNY CNY
43.29 EUR EUR EUR
0.12 CNY CNY/EUR CNY/EUR
46.35 TRY Interest Interest
67.02 USD Fossil Oil Fossil Oil
40.44 USD Silver Silver
4.76 USD Copper Copper
98.08 USD Iron Ore Iron Ore
352.00 USD Shipbreaking Scrap Shipbreaking Scrap
4,152.75 TRY Gold (gr) Gold (gr)

Egypt's iron and steel imports dip in 2023, top suppliers shift

The top 10 exporting countries saw fluctuations, with some witnessing declines while others recorded increases in exports to Egypt.

Egypt's iron and steel imports dip in 2023, top suppliers shift

Egypt’s iron and steel sector faced a significant shift last year as imports experienced a sharp decline. According to data, Egypt’s steel imports plummeted by 17.8%, reaching a total value of approximately $4.2 billion in 2023. This notable decrease contrasts with the $5.1 billion recorded in 2022, reflecting the challenges within the global steel market.

Egypt’s reliance on imported iron and steel waned during 2023, with a substantial drop in overall imports. The decline underscores the country’s efforts to enhance domestic production and self-sufficiency.

Ten countries accounted for 83.5% of Egypt’s total iron and steel imports. Among them, China remained a dominant player, with imports increasing from $625.1 million in 2022 to $661.3 million in 2023. Meanwhile, the United Kingdom, Belgium, Türkiye, and India witnessed declines in their export volumes.

Despite global market fluctuations, China’s steel exports to Egypt continued to grow, reinforcing their strong trade ties.

Imports from the UK decreased from $653.5 million in 2022 to $577.8 million in 2023.

Belgian steel exports remained relatively stable, hovering around $500 million.

Türkiye experienced a significant decline, with exports dropping from $539.6 million to $419.7 million.

India’s steel exports to Egypt saw a drastic reduction, plummeting from $539.2 million to a mere $197.0 million.

While some countries faced setbacks, others seized opportunities. Notably, Russia, the Netherlands, Italy, France, and Lebanon increased their steel exports to Egypt.

Exports surged from $370.2 million to $548.9 million.

Dutch exports rose from $287.7 million to $302.7 million.

Italian steel found its way into Egypt, growing from $93.6 million to $106.1 million.

French steel exports experienced remarkable growth, jumping from $44.5 million to $105.2 million.

Lebanese steel also made strides, increasing from $82.9 million to $101.5 million.

The decline in steel imports reflects Egypt’s commitment to fostering a robust domestic steel industry. As the nation navigates economic challenges, this shift may pave the way for further investments in local production and technological advancements.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

EDO and Jiangsu Changbao Steel Tube join forces for domestic pipe production in Oman

Monday, April 21, 2025

Solb Steel adds to its strategic partnerships

Monday, April 21, 2025

Nigeria and South Africa forge partnership in mining sector

Monday, April 21, 2025

AGPC reinforced its strength with 500 thousand tons of steel pipe production

Monday, April 21, 2025

Çolakoğlu Metalurji takes its place at Made in Steel 2025

Monday, April 21, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now