The latest data issued by the Central Bank of Egypt uncovered a surprise: a 13% increase in Egyptian exports during the financial year 2010-2011 which amounted to USD 27 billion compared to approximately USD 24 billion during the financial year 2009-2010.
Imports increased by 4% reaching USD 50.7 billion compared to approximately USD 49 billion. This led to a 7% increase in the trade exchange volume with the world, reaching USD 77.7 billion compared to USD 72.8 billion.
The USA ranked as the most important country in trade exchange with Egypt with a volume amounting to USD 9.6 billion thus acquiring a 12% of trade exchange with Egypt, despite a 1% decline from the previous financial year. Egypt imported from the USA for approximately USD 6 billion, a 13% increase from the previous year where imports amounted to USD 5.3 billion. Egypt exported to the USA for approximately USD 3.6 billion with an 18% decline from USD 4.4 billion.
Italy came next with a trade exchange volume with Egypt that amounted to USD 7.3 billion with a 9% share, increasing by 25% from USD 5.8 billion. Egyptian exports to Italy increased by 50% reaching USD 5.3 billion compared to USD 3.5 billion, while imports from Italy fell by 14% reaching USD 1.9 billion compared to USD 2.3 billion.
Both Switzerland and Germany ranked as Egypt's third partner in trade exchange. Switzerland marked a 6% share, despite the 2% decrease in the trade exchange, reaching USD 4.7 billion compared to USD 4.8 billion. Exports increased by 61% reaching USD 797 million, compared to approximately USD 494 million at a time where imports decreased by 9% reaching USD 3.9 billion compared to USD 4.3 billion. Germany shared the same position with a 7% share. The trade exchange decreased by 5% reaching USD 4.7 billion compared to approximately USD 4.9. Exports to Germany increased by 12% reaching USD 987 million compared to approximately USD 883 million; while imports from Germany decreased by 8% reaching USD 3.7 billion compared to approximately USD 4 billion.
UK, China and France ranked as Egypt's fourth partner in trade exchange, with a 5% share for each. The trade exchange volume between the UK and Egypt reached USD 4.2 billion instead of USD 4 billion, marking a 4% increase. Egyptian exports to the UK increased by 12% reaching USD 1.3 billion instead of USD 1.2 billion. Egyptian imports from the UK increased by 1% reaching USD 2.85 billion instead of USD 2.84 billion.
Egypt's trade exchange with China reached USD 4.2 billion compared to USD 4.6 billion, with a 9% decrease as a result of the 58% decline in the Egyptian exports to China reaching USD 292 million compared to USD 689 million. At a time where Egyptian imports from China fell by 1% reaching USD 3.91 billion instead of USD 3.94 billion.
France's trade exchange volume with Egypt reached USD 3.6 billion instead of USD 3.2 billion, an 18% increase as a result of a 23% increase of imports from France to reach USD 2.8 billion compared to USD 2.3 billion. While exports to France increased by 3% reaching USD 849 million instead of USD 825 million.
© Zawya 2012
