Trade exchange between Egypt and outside world falls to $75bn in FY 2015/2016: CBE

Hossam Mounir
2 Min Read

The total volume of trade exchange between Egypt and the outside world during the fiscal year (FY) of 2015/2016 amounted to $75.02bn, a decline of $8.54bn from FY 2014/2015, which registered $83.55bn, according to the Central Bank of Egypt (CBE).

The bank stated in a report on Tuesday that Egypt’s imports from foreign countries declined during the last fiscal year by $4.99bn, recording $56.31bn as of the end of June 2016, compared to $61.31bn at the end of June 2015.

According to the CBE, Egyptian exports also declined in FY 2015/2016 by $3.54bn to total $18.7bn, compared to $22.25bn in 2014/2015.

Trade between Egypt and 14 countries, its most important trading partners, registered $45.89bn, comprising imports worth $33.26bn, versus $12.64bn in exports.

The list of these countries included, in order of the size of its trade with Egypt: the United Arab Emirates (UAE), China, Germany, Saudi Arabia, the United States, Italy, Russia, Britain, Turkey, France, Switzerland, India, Netherlands, and Spain.

According to the CBE, the size of trade with other countries reached $29.12bn, comprising $23.05bn of imports and $6.07bn in exports.

The trade exchange between Egypt and the UAE, the largest trading partners, recorded $5.97bn as of the end of June 2016, of which $3.42bn were imports and $2.55bn were Egyptian exports to the UAE.


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