KBRN, Jakarta: Indonesia’s non-oil and gas trade with Egypt continues to experience a positive trend, as reflected in the country’s export value to Egypt, which reached USD 1.52 billion in 2024. This figure marks a 16.36 percent increase compared to the previous year’s USD 1.31 billion.

“The export value of Indonesia’s non-oil and gas products to Egypt has reached USD 1.52 billion in 2024, reflecting a 16.36 percent increase from 2023’s USD 1.31 billion. This achievement surpasses the government’s target of USD 1.37 billion and sets a record high in the last three years,” said Indonesian Ambassador to Egypt, Lutfi Raup, during the virtual launch of the 40th Trade Expo Indonesia (TEI), Thursday (20/2/2025).

Ambassador Lutfi further revealed that the total trade volume between Indonesia and Egypt in 2024 amounted to USD 1.73 billion, reflecting a 14.61 percent increase from the USD 1.51 billion recorded in 2023. Meanwhile, Indonesia’s import value from Egypt stood at USD 207.8 million in 2024, growing by 3.18 percent from USD 201.4 million in 2023.

“As a result, Indonesia’s trade balance with Egypt recorded a surplus of USD 1.31 billion in 2024. This continues the surplus trend that has been maintained for the past ten years,” Ambassador Lutfi added.

He further noted that the sustained export surplus contributes to Indonesia’s foreign exchange reserves while also creating opportunities for micro, small, and medium enterprises (MSMEs) under the "UMKM BISA Ekspor" initiative and manufacturers to expand their market presence in Egypt.

Meanwhile, Indonesian Trade Attaché in Cairo, M. Syahran Bhakti, highlighted that Indonesia’s non-oil and gas export surplus to Egypt in 2024 was supported by strong demand amidst rising commodity prices.

“Indonesia’s top ten export products to Egypt in 2024 include palm oil and its derivatives, coffee beans, four-wheeled vehicles, wood, iron, coconut and its processed products, textile yarn, vegetable oil, electronics, and vehicle tires,” explained Syahran.

On the other hand, Indonesia also imports ten major products from Egypt, mostly consisting of raw materials and industrial support components. According to Syahran, these imports include phosphate fertilizers, dates, industrial potatoes, citrus oranges, olive oil, coriander seeds, anise, grapes, wooden panels, and printed books.

Additionally, Economic Affairs Official at the Indonesian Embassy in Cairo, Rifki Rustam Arsyad, stated that Egypt’s economic growth is driven by the private sector and investments, particularly in services, tourism, manufacturing, and industry. He also emphasized Egypt’s strategic geographical position as a trade hub connecting Asia, Africa, and Europe, making it a significant non-traditional trade partner for Indonesia and a key investment destination in Africa.

“Currently, Indonesia’s investment in Egypt spans the commodities, services, construction, and information and communication technology (ICT) sectors. Conversely, Egypt’s investment in Indonesia covers the plantation and livestock industry, paper and printing industry, as well as trade and repair services,” Rifki stated.

Rifki further emphasized that the Indonesian Embassy in Cairo remains committed to fostering communication with various stakeholders to strengthen investment and trade cooperation between the two nations. Apart from non-oil and gas exports, the total realization of Egypt’s investment in Indonesia in 2024 reached USD 5.9 million, distributed across 323 projects.