Egypt's steel imports surge in Q1 2024, bolstering economic expansion

Egypt's import of iron and steel saw a substantial increase in the first quarter of 2024, soaring by 29.5% to reach $1.164 billion compared to $898.992 million in the same period of 2023. This surge underscores the country's heightened demand for steel products amid its economic expansion efforts.

According to trade data, these imports constituted 6.1% of Egypt's total imports for the quarter, highlighting the significant role of steel in the nation's import portfolio. Analysts attribute this growth to Egypt's booming construction sector and infrastructure projects, which heavily rely on steel for development.

The increase in steel imports reflects Egypt's robust economic activity and the ongoing investments in infrastructure," commented an industry expert familiar with the region's economic . "The construction boom and industrial expansion are driving up demand for steel imports, supporting various sectors of the economy."

Here’s a breakdown of the top nine countries exporting iron and steel to Egypt in Q1 2024:

This surge in steel imports reflects Egypt’s growing industrial demand and underscores the importance of these trade partnerships.