Egypt’s Trade Deficit at $8.9 Billion for July-September 2017: Central Bank

Published February 21st, 2018 - 11:59 GMT
The volume of trade exchange between Egypt and the rest of the world is up, so is Egypt's trade deficit. (File photo)
The volume of trade exchange between Egypt and the rest of the world is up, so is Egypt's trade deficit. (File photo)

The volume of trade exchange between Egypt and other countries during the period from July to September 2017 was about $20.621 billion, according to the Central Bank of Egypt (CBE).

According to a recent CBE report, the volume of Egypt’s imports from the rest of the world during that period came to about $14.781 billion, while exports amounted to about $5.836 billion. Egypt's trade deficit was $8.945 billion.

According to the CBE, the volume of trade exchange between Egypt and 14 countries, which are considered the 14 most important trading partners of Egypt, was $12.128bn, or equivalent to about 60% of Egypt’s total trade with the rest of the world.

The CBE pointed out in its report that the value of Egyptian exports to these countries was about $3.904bn, while the value of Egyptian imports from these countries amounted to $8.224bn.

According to the report, the UAE was Egypt’s most important trading partner, as the value of trade exchange between the two during that period was about $1.465bn, of which $870.5m was imports and $594.9m exports. 

China came second at $1.347bn in trade exchange; $1.264bn in imports and $82.1m in exports.

Italy ranked third among Egypt’s most important trading partners during the period from July to September 2017, as the value of trade with Egypt was $1.079bn, of which $534.5m was imports and $544.5m exports, according to the CBE.

In fourth place came the United States, with a trade exchange value of $1.048bn, of which $637.2m was imports and $411.1m was exports. 

Germany ranked fifth in terms of Egypt’s most important trading partners, with a value of trade exchange in that period equivalent to $1.044bn, of which $754.6m was imports and $289.5m exports.

According to the CBE, Saudi Arabia ranked seventh among Egypt’s most important trading partners, with a total trade value of about $850.1m, of which $626.1m was imports and $224m exports.

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