Egypt recorded a $69.965 billion in foreign trade during the first nine months of the fiscal year (FY) 2019/20, according to the Central Bank of Egypt (CBE).
According to the bank’s report, during the period from July 2019 to March 2020, Egypt’s imports amounted to about $49.012 billion while the volume of its exports reached about $20.953 billion.
Egypt’s volume of trade exchange with its most important trading partners amounted to about $44.296 billion. Of this amount, about $31.575 billion came from imports while about $12.720 billion came from exports. A total of 14 countries account for 63.3 per cent of Egypt’s total volume of trade exchange.
According to the central bank, United Arab Emirates ranked as Egypt’s most important trading partner, accounting for a trade exchange volume of about $5.745 billion with imports valued at $3.157 billion and exports at $225.1 million.
China took second place with a trade exchange volume of $5.108 billion with imports valued at $4.825 billion and exports at $302.8 million.
The US claimed the third spot with a trade exchange of $4.494 billion with imports at $2.549 billion and exports at $1.944 billion. Germany followed with a trade exchange volume of about $3.115 billion of which $2.389 billion were imports and $726.3 million were exports.
The volume of trade exchange with Italy amounted to $2.827 billion with imports of $1.597 billion and $1.229 billion as exports.
Russia claimed the eighth position with a trading volume of $2.647 billion of which $2.506 billion were imports and $140.8 million were exported. Switzerland followed with a volume of trade exchange of about $2.452 billion of which $1.651 billion were imports, and $800.8 million were exports.
Turkey recorded about $2.425 billion out of which $1.687 billion were imports and $737.6 million were exports.
India ranked eleventh with a trading volume of $2.409 billion of which $1.379 billion were imports and $1.03 billion were exports followed by France with a trading volume of $1.956 billion, of which $1.476 billion were imports and $479.6 million were export.
Kuwait had a trading volume of $1.761 billion of which $1.673 billion were imports and $88.1 million were exports. The volume of trade exchange between Egypt and Spain reached $1.423 billion of which $919.1 million were imports and $504.4 million were exports.