Data from the Central Agency for Public Mobilisation and Statistics revealed an increase in the value of trade exchange between Egypt and China, reaching $12.7bn during the first nine months of 2022, compared to $11.9bn during the same period in 2021 — an increase of 9.8%.
The agency also indicated that the value of Egyptian exports to China increased, recording $1.5bn, compared to $1.1bn — an increase of 36.7%.
Meanwhile, the value of Egyptian imports from China amounted to $11.1bn, compared to $10.7bn — an increase of 3.8%.
The most important commodity groups that Egypt exported to China were fuel, mineral oils, and distillation products worth $1.2bn, fruits worth $74.3m, prepared animal food worth $62.1m, textile fibres worth $26.5m, and leather worth $17.5m.
As for the most important commodity groups that Egypt imported from China, they were represented in machinery and electrical appliances with a value of $2.3bn, boilers, machinery, equipment, and mechanical tools with a value of $1.6bn, synthetic or artificial filaments with a value of $839m, plastics and their manufactures with a value of $787.3m, and chemical products with a value of $784m.
According to the agency, the value of Chinese investments in Egypt amounted to $563.4m during FY2021/22, compared to $485.2m during FY2020/21 — an increase of 16.1%.
Finally, the value of remittances of Egyptian expats working in China recorded $12.77m, compared to $12.81m — a decrease of 0.3% — while the value of remittances of their Chinese counterparts in Egypt amounted to $5.4m, compared to $10.5m — a decrease of 48.1%.