Egypt reports $69.96bln in foreign trade during nine months of 2019/20: CBE

Egypt’s imports amounted to about $49.012bln during the period from July 2019 to March 2020

  
Central Bank of Egypt's headquarter is seen in downtown Cairo, Egypt September 18, 2018. REUTERS/Mohamed Abd El Ghany - RC110A976970 Image used for illustrative purpose

Central Bank of Egypt's headquarter is seen in downtown Cairo, Egypt September 18, 2018. REUTERS/Mohamed Abd El Ghany - RC110A976970 Image used for illustrative purpose

Mohamed Abd El Ghany - RC110A976970

The Central Bank of Egypt (CBE) revealed that, during the first nine months of fiscal year (FY) 2019/20, Egypt recorded a volume of trade exchange with other countries of about $69.965bn.

In a new report, the bank stated that Egypt’s imports amounted to about $49.012bn during the period from July 2019 to March 2020, while the volume of its exports reached about $20.953bn.

The report added that the volume of trade exchange between Egypt and its most important trading partners amounted to about $44.296bn. Of this amount, about $31.575bn came from imports, and about $12.720bn were from exports. A total of 14 countries account for 63.3% of Egypt’s total volume of trade exchange.

According to the CBE, the UAE ranked as Egypt’s most important trading partner, accounting for a trade exchange volume of about $5.745bn. Of this, $3.157bn were imports and $225.1m were exports.

China came in second place, with a trade exchange volume of $5.108bn, of which $4.825bn were imports and $302.8m were exports.

The third spot was claimed by the US, account for $4.494bn in trade exchange volume, of which $2.549bn were imports and $1.944bn were exports. This was followed by Saudi Arabia in fourth place, with a volume of trade exchange of $4.333bn, of which $3.319bn were imports and $1.013bn were exports.

The UK came in fifth place, with a volume of trade exchange coming in at $3.594bn, of which $2.124bn were imports and $1.469bn were exports. In sixth place was Germany with a trade volume of about $3.115bn, of which $2.389bn were imports and $726.3m were exports. The volume of trade exchange with Italy amounted to $2.827bn, of which $1.597bn were imports and $1.229bn were exports.

Russia ranked eighth, with a trade volume of $2.647bn, of which $2.506bn were imports and $140.8m were exports. At the same time, Egypt and Switzerland reported a volume of trade exchange of about $2.452bn, of which $1.651bn were imports, and $800.8m were exports. The volume of trade exchange between Egypt and Turkey recorded about $2.425bn, of which $1.687bn were imports and $737.6m were exports.

India ranked eleventh with a trade volume of $2.409bn, of which $1.379bn were imports and $1.03bn were exports, followed by France with a trade volume of $1.956bn, of which $1.476bn were imports, and $479.6m were export.

Kuwait has a trade volume of $1.761bn, of which $1.673bn were imports, and $88.1m were exports. The volume of trade exchange between Egypt and Spain reached $1.423bn, of which $919.1m were imports and $504.4m were exports.

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