Egypt's trade exchange reaches $23bn in 3 months: CBE

Volume of trade exchange between Egypt and its most important trading partners amounted to $14.15bn, equivalent to 60% of the total trade exchange

The Central Bank of Egypt (CBE) revealed that the volume of trade exchange between Egypt and other countries hit $23bn during the first quarter of Fiscal Year (FY) 2019/2020, including $15.9bn in imports, and $7.12bn in exports, compared to $23.2bn during the first quarter of FY 2018/2019, including $16.5bn in imports, and $6.7bn in exports.
The CBE, in a recent report, indicated that the volume of trade exchange between Egypt and the 14 most important trading partners account for 60% of the total trade exchange, increasing to about $14.15bn compared to $14.03bn.
According to the CBE, the volume of Egyptian exports to the most important trading partners increased during the first quarter of the current FY to $4.3bn compared to $4.1bn, while the volume of imports decreased to $9.7bn compared to $9.8bn.
The bank pointed out that the United Arab Emirates (UAE) ranked first, in terms of the most important trading partners with Egypt, with a trade exchange amounting to $1.7bn, including $1bn in imports, and $720m in exports, followed by the United States with a trade exchange amounting to $1.57bn, including $840.9m in imports, and $732.2m in exports.
China ranked third with a trade exchange of $1.55bn including $1.4bn in imports and $96.7m in exports, followed by the United Kingdom in the fourth rank, with a trade exchange of $1.36bn, of which $801.2m in imports and $560.6m in exports.
The Kingdom of Saudi Arabia came fifth with a trade exchange volume of $1.306bn, of which $975.3m were imports, and $330.7m in exports, followed by Italy with a trade exchange amounting to $1.12bn including $556m in imports, and $571.2m in exports.
The volume of trade exchange with Germany reached $1.02bn, of which $766.7m were imports, and $262.6m exports.
India came eighth with a trade exchange amounting to $860.3m, of which $478.8m were imports to Egypt, and $381.5m were exports, while the volume of trade exchange between Egypt and Switzerland was about $843.8m, including $556.6m in imports, and $287.2m in exports. The volume of trade between Egypt and Turkey is about $709.9m including $520.2m in imports, compared to $189.7m in exports.
Kuwait ranked eleventh with a trade volume of $567.2m including $541.7m in imports, and $25.5m in exports, followed by France with a trade volume of $539.6m, including $408m in imports, and $131.6m in exports. Russia comes next with a trade volume of $515.4m, including $470.4m in imports, and $45m in exports, while the volume of trade exchange between Egypt and South Korea reached $436.1m, of which $407.3m in imports, and $28.8m in exports.