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$63.27bn worth of international trade between Egypt and world in 9 months: CBE - Daily News Egypt

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$63.27bn worth of international trade between Egypt and world in 9 months: CBE

The US and China are Egypt’s largest trading partners, the UAE is the third largest


The trade exchange volume between Egypt and world countries reached about $63.27bn in the period between July 2014 and March 2015, according to the Central Bank of Egypt (CBE).

In a recent report, CBE revealed that the volume of Egyptian exports in the first nine months of fiscal year (FY) 2014/2015 amounted to about $16.856bn, while the volume of imports recorded during the same period amounted to $46.414bn.

According to the CBE, 14 countries acquire about 64.5% of the total volume of Egypt’s trade exchange with the world, and their dealing with Egypt amount to about $40.821bn.

“The US and China are the largest trade partners of Egypt, as each holds 7.4% of Egypt’s total trade exchange with the world,” according to CBE.

The trade exchange between Egypt and the US in the first nine months of FY 2014/2015 reached about $4.683bn, of which $1.735bn are Egyptian exports to the US, and about $2.948bn Egyptian imports from the US.

CBE added that the volume of the trade exchange between Egypt and China reached to about $4.664bn during that period, of which $4.088bn are imports from the Chinese market, and only about $575.5m are Egyptian exports to China.

According to the CBE, the United Arab Emirates (UAE) is Egypt’s third largest trading partners, as the volume of the trade exchange between the two countries registered about $4.375bn, of which $1.317bn are Egyptian exports to the UAE, and about $3.058bn are Egyptian imports from UAE markets.

Saudi Arabia is the fourth largest trading partner, with a trade exchange volume of $4.246bn, of which $3.402bn are in Egyptian imports from the Saudi market, and $844.6m are Egyptian exports to the Saudi market.

According to the CBE, 10 other countries top the list of countries that have strong trade dealings with Egypt. Italy’s trade exchange volume with Egypt amounts to 5.1% out of the total volume of Egypt’s trade with world countries, followed by Germany with 4.7%, Britain with 4%, France with 3.9%, Turkey with 3.9%, India with 3.9%, Kuwait with 3.2%, Switzerland with 2.9%, Russia with 2.4%, and South Korea with 2.1%. There are also other countries that the CBE did not mention in its report. They acquired about 35.5% of Egypt’s trade exchange volume with the world, with $22.450bn.

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https://www.dailynewsegypt.com/2015/10/04/63-27bn-worth-of-international-trade-between-egypt-and-world-in-9-months-cbe/
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