Egypt-Lebanon trade hits $1 billion in 2024 as exports surge nearly 44%
Imports fall slightly, while Egyptian remittances from Lebanon rise to $42.9 million amid deepening bilateral ties
CAIRO, Egypt (MNTV) — The value of trade exchange between Egypt and Lebanon climbed to $1 billion in 2024, marking a 29.3% increase from $774 million in 2023.
The report showed a sharp rise in Egyptian exports to Lebanon, which surged by 43.8% year-on-year to reach $762.8 million in 2024, according to newly released data from Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS).
In contrast, Egyptian imports from Lebanon registered a slight decline of 2.3%, totaling $237.7 million during the same period.
The significant boost in exports was led by key commodity groups. Fuels, mineral oils, and distillation products topped the list with a value of $215 million.
Iron and iron products followed at $65 million, and cement exports reached $55 million. Exports of fruits and vegetables were valued at $48 million, while sugar and sugar products contributed $41 million.
On the import side, Egypt’s main purchases from Lebanon in 2024 included iron and iron products worth $118 million, fruits and vegetables at $72 million, and electrical appliances and equipment totaling $22 million.
Imports of plastics and dyeing and coating extracts each amounted to $4 million.CAPMAS data also shed light on investment and remittance flows between the two countries.
Lebanese investments in Egypt stood at $51.2 million in fiscal year 2023/2024, slightly down from $51.4 million in the previous year. Egyptian investments in Lebanon reached $9.7 million during the same fiscal year, up from $7.9 million in 2022/2023.
The value of remittances from Egyptians working in Lebanon rose to $42.9 million in fiscal year 2023/2024, compared to $38.1 million a year earlier.
Meanwhile, remittances from Lebanese working in Egypt were reported at $3.5 million, down slightly from $3.7 million.
CAPMAS estimates that approximately 11,300 Egyptians were residing in Lebanon by the end of 2023.
The trade growth comes against a backdrop of broader regional economic resilience. According to a March report by the Arab Investment and Export Credit Guarantee Corporation (Dhaman), the Middle East’s gross domestic product grew by 1.8% in 2024, reaching $3.6 trillion.
Moody’s forecasts further improvement, projecting regional growth of 2.9% in 2025, up from 2.1% this year, with a stable outlook for sovereign credit fundamentals.
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