Egypt’s foreign trade in the fiscal year (FY) 2018/19 reached $95.024billion from $88.93billion in year 2017/18, an increase of $6.094 billion according to the Central Bank of Egypt (CBE).
According to a report by the Central Bank of Egypt, the country’s imports reached about $66.53 billion against $35.560billion, while its exports reached $28.495billion against $16.347billion, in the same period.
According to the CBE report, 14 countries accounted for 62.3% of Egypt’s foreign trade, with the value of trade exchange between Egypt and those countries amounting to $59.245billion.
The bank pointed out that Egyptian exports to these countries reached $17.091billion which is equivalent to 60% of total exports. Its imports from these 14 countries reached $42.153billion, which is about 63.4% of total imports between July 2018 and June 2019.
China was Egypt’s largest trade partner with a $6.505billion trade exchange, including $6.012billion worth imports and $493.2m worth exports. The United States followed with a $6.239billion trade exchange, with $3.383billion imports and $2.856billion exports.
Saudi Arabia came third at $5.988billion trade exchange with Egypt, with $4.931billion imports and $1.056billion exports. UAE followed with $5.823billion trade exchange, $3.619billion imports and $2.204billion exports. Russia was at a trade exchange of $4.782billion, $4.574billion imports and $207.1m exports.
Moreover, the trade exchange between Egypt and Italy reached about $4.482billion, with exports and imports at $2.058billion and $2.423billion respectively, while Germany and Egypt trade stood at $4.254billion with imports and exports at $3.086billion and $1.168billion respectively.
The United Kingdom was ranked as the eighth trading partner of Egypt with a $4.23billion trade exchange, including $2.385billion imports and $1.845billion exports, Turkey followed with a total trade of $3.617billion, including $2.588billion imports and $1.029billion exports.
Switzerland ranked 10th in the most important trade partners of Egypt with a trade exchange of $3.343billion, including $2.367 billion imports and $975.7 million exports. India ranked at number eleven with a total trade exchange of $2.996billion, including $1.887billion imports and $1.108billion exports.
France came 12th with trade exchange of $2.744billion, including $2.031billion imports and $317.2m exports, then Kuwait with a total trade of $2.26billion, including $2.105billion imports and $155m exports.
According to the Central Bank of Egypt, the value of trade exchange between Egypt and the rest of the world stood at about $35.779billion, with $24.375billion imports and $11.403billion exports.
