The latest report by the US Bureau of Labor Statistics in Washington sheds light on the trade exchange between the US and Egypt from August to September 2008 amid the repercussions of the global financial crisis. The report says Egyptian exports to US markets jumped by 65% (up to $715 million) compared to the same period in 2007, when those exports stood at $433 million. The report points out that non-oil exports rose by 24% (up to $348 million) compared to the same period in the previous year, when they had stood at $ 280 million. The report adds that imports from the US to Egypt fell during the same period in 2008 by 21%, standing at $ 1,242 million, while it had stood at $ 1,574 million in the same period of 2007. According to the report, non-oil imports from the US fell by 28%, standing at $1,070 million, while it had amounted to $1,483 million one year before. The report affirms that the trade deficit during that period fell by 45% and stood at $527 million, while the volume of trade exchange fell by 2% ($1,957 million) compared to a year before, when such volume stood at $2,007 million. The report points out that some of the main non-oil commodity exports to the US which witnessed an increase in the last quarter of 2008 were ready-made clothes, carpets, fertilizers and upholstery.
