The volume of Egypt’s foreign trade hit $58.559bn in the first half of the fiscal year (1H FY) 2022/23, according to the Central Bank of Egypt (CBE). Imports accounted for $37.054bn, while exports totaled $21.505bn.
The CBE’s monthly report said that trade exchange between Egypt and its top 14 trading partners, which accounted for 62.9% of the total volume of trade exchange, amounted to $36.821bn. Of this, $22.211bn were exports and $14.61bn were imports.
The UAE ranked first as Egypt’s top trading partner, with a volume of trade exchange of $4.873bn. China was second with $4.114bn, followed by the US with $4.040bn. Saudi Arabia was fourth with $3.550bn, and Turkey was fifth with $2.686bn.
Germany ranked sixth with $2.350bn in trade exchange, of which $1.577bn were imports and $773m were exports. Italy came next with $2.303bn in trade exchange, of which $1.133bn were imports and $1.169bn were exports.
Spain ranked eighth with $2.118bn in trade exchange, of which $545.5m were imports and $1.573bn were exports. The UK ranked ninth with $2.078bn in trade exchange, of which $984.3m were imports and $1.094bn were exports. The Netherlands ranked tenth with $1.834bn in trade exchange, of which $744.4m were imports and $1.089bn were exports.
The CBE said that trade exchange with other countries amounted to $21.738bn, of which $14.843bn were imports and $6.895bn were exports.