The Central Bank of Egypt (CBE) announced on Saturday that the volume of Egypt’s foreign trade increased by the end of March 2022 to about $98.476bn, compared to about $71.721bn at the end of March 2021 — an increase of about $26.755bn.
According to the monthly report issued by the CBE, the volume of Egypt’s imports rose to about $66.007bn, compared to $51.148bn, and that the value of its exports rose to $32.469bn, compared to $20.573bn.
It added that 14 countries — representing Egypt’s most important trading partners — accounted for about 63.4% of the total volume of trade exchange between Egypt and the outside world with a value of about $62.389bn, noting that exports amounted to $21.236bn.
It also pointed out that China ranked first in terms of the most important trading partners with Egypt, with a trade exchange volume of about $8.633bn, $7.661bn of which were imports and $972m were exports. Next up was the US in second place with a trade exchange volume of $7.088bn, $3.686bn of which were imports and $3.402bn were exports.
Saudi Arabia ranked third with a trade exchange volume of $6.696bn, $5.337bn of which were imports and $1.359bn were exports. This was followed by the UAE with a trade exchange volume of $6.570bn, $4.428bn of which were imports and $2.142bn were exports.
Turkey ranked fifth with a trade exchange volume of $5.682bn, $2.870bn of which were imports and $2.812bn were exports. Meanwhile, the volume of trade exchange with Germany amounted to $4.210bn, $2.942bn of which were imports and $1.267bn in exports. Next up was Switzerland with a trade exchange volume of about $3.654bn, $2.436bn of which were imports and $1.218bn were exports.
The UK came in at eighth place with a volume of trade exchange amounting to $3.646bn, $1.688bn of which were imports and $1.957bn were exports. After that was India, recording about $3.519bn, $2.22bn of which were imports and $1.299bn were exports.
France came in 11th place with a trade volume of $2.894bn, $1.650bn of which were imports and $1.244bn in exports, followed by Russia, with a trade volume of $2.461bn — $2.254bn in imports and $206.3m in exports.
Spain came in before last with a trade volume of $1.888bn, including $924.5m in imports and $963.6m in exports. Finally, trade exchange between Egypt and South Korea amounted to about $1.886bn, including $1.094bn in imports and $792.9m in exports.
According to the CBE, the volume of trade exchange with other countries amounted to about $36.087bn, $24.854bn of which are imports and $11.232bn are exports.
