|14 June, 2019

Egypt-US trade hits $2.2bln in Q1

Egyptian exports to the US soared 48.8% in Q1

A customer counts his U.S. dollar money in a bank in Cairo, Egypt March 10, 2016.

A customer counts his U.S. dollar money in a bank in Cairo, Egypt March 10, 2016.

REUTERS/Amr Abdallah Dalsh

Cairo – Mubasher: The trade deficit between the US and Egypt declined by 0.5% year-on-year in the first quarter of 2019, recording $798.7 million.

Trade between both countries surged 26% to $2.2 billion in Q1-19 versus $1.7 billion a year earlier, according to the Egyptian Commercial Service (ECS).

Egyptian exports to the US soared 48.8% to $692.9 million in the three-month period ended 31 March, compared to $465.6 million in the year-ago period, head of the Egyptian trade representation office in Washington, Ahmed Adel Hosni, said

Meanwhile, Egypt’s non-oil exports to the US increased by 39% year-on-year to $556.6 million from January to the end of March.

Source: Mubasher

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