Egypt’s economic ties with the world’s leading industrial powers deepened in 2024, with trade between Cairo and the Group of Seven (G7) nations surging to nearly $30 billion, according to official figures from Egypt’s statistics agency.
Data from the Central Agency for Public Mobilization and Statistics (CAPMAS) shows total trade with G7 countries reached $29.7 billion, a 14.2% rise from the previous year’s $26 billion. The increase was driven by steady growth in both exports and foreign investment.
Italy Tops Egypt’s G7 Export List
Egyptian exports to G7 markets rose to $9.5 billion, up from $8.6 billion in 2023—marking a 10.5% increase. Italy emerged as the top buyer, importing goods worth $3.4 billion, followed by the United States with $2.2 billion and the United Kingdom at $1.6 billion. France, Germany, Canada, and Japan also featured prominently in Egypt’s export landscape.
Mineral fuels, garments, electrical machinery, fresh produce, fertilizers, aluminum, and plastic products were among Egypt’s leading exports to the bloc.
U.S. Leads G7 Imports to Egypt
Egyptian imports from G7 countries jumped to $20.2 billion, up from $17.4 billion in 2023—reflecting a 16.1% increase. The United States topped the list, supplying goods worth $7.6 billion. Germany followed with $4.4 billion, ahead of Italy ($3.2 billion), the UK ($2 billion), and France ($1.8 billion). Imports from Japan and Canada totaled $819 million and $369 million, respectively.
Cairo’s top imports from the G7 included fuel and oil products, electrical equipment, vehicles, pharmaceuticals, steel, and a range of agricultural and medicinal plants.
Foreign Investment from G7 Also Climbs
Beyond trade, G7 foreign direct investment (FDI) in Egypt also rose in the 2023/2024 fiscal year. G7 investors injected $9.2 billion, up 13.6% from the previous year’s $8.1 billion.
The United States led the charge with $3 billion, trailed closely by the United Kingdom ($2.9 billion) and Italy ($2.1 billion). France contributed $483.8 million, Germany $421.6 million, Canada $122.5 million, and Japan $73.2 million.
Egypt Strengthens Its Place in Global Trade
The uptick in G7 trade and investment reflects Egypt’s ongoing efforts to position itself as a strategic hub for global commerce. With exports gaining ground and FDI on the rise, Cairo’s partnerships with advanced economies appear to be entering a new phase of momentum.
As African economies seek to expand their footprint in global markets, Egypt’s evolving engagement with the G7 may offer lessons in balancing traditional partnerships with broader regional goals.