The value of trade exchange between Egypt and the world from July to December 2017 amounted to $42.86bn, according to the Central Bank of Egypt (CBE).
In a recent report, the CBE stated that imports in that period reached $30.8bn, while exports scored $12.06bn.
According to the CBE, 14 countries accounted for 59.43% of Egypt’s total foreign trade, registering $25.47bn.
It pointed out that the value of Egyptian exports to these countries reached $7.52bn, which accounts for about 62.41% of Egypt’s total exports. Egyptian imports from these countries reached $17.95bn, accounting for 58.26% of Egypt’s total imports between July and December 2017.
The UAE ranked first in terms of Egypt’s most important trading partners, as the scale of trade exchange amounted to about $3bn, including $1.84bn in imports and $1.17bn in exports, followed by China with an exchange of goods worth $2.6bn, including $2.5bn worth of imports and $160.4m of exports.
Moreover, according to the report, the US came in third with a trade exchange estimated at $2.3bn in total, of which about $1.3bn was imports and $985.5m was exports. Saudi Arabia then followed in the fourth spot, having exchanged $2.3bn worth of goods in the same period. That included $1.8bn in imports and $508m im exports.
Italy followed in fifth, bearing a trade exchange totalling $2bn, including $958.6m in imports and $1.08bn in exports.
The value of trade exchange between Egypt and Germany was about $1.99bn, including $1.4bn in imports and $502.3m in exports, while trade with the UK reached a total of $3.7bn, including imports of $1.1bn and exports worth $856.7m.
The CBE added that Russia was the seventh most important trading partner for Egypt in the period between July and December 2017, as imports amounted to $1.5bn and exports reached $83.6m, totalling $1.6bn worth of trade. Switzerland followed with a total trade exchange of $1.4bn, including $1bn in imports and $455.2m in exports.
France ranked next on the list with a total trade value of $1.35bn, including $1.06bn in imports and $296.3m in exports, then Turkey with a total exchange of $1.3bn, including $805.3m in imports and $518.4m in exports.
Then came India with a total trade exchange estimated at $1.2bn, which included $796.1m in imports and $499m in exports, followed by Brazil with a trade value of $1bn, including $961.5m in imports and $46.6m in exports.
Finally, the CBE stated that trade exchange between Egypt and Spain reached $916.8m, including $564.4m in imports and $352.4m in exports.