CBE: Egypt's Trade Volume Grows 11%

The Central Bank of Egypt (CBE) said that the volume of trade exchange increased by 11.32 percent during the first half of the current fiscal year 2018-19.

The volume of trade reached $ 47.7 billion, of which imports were estimated at $ 33.5 billion and exports at $ 14.2 billion.

During the same period last year, trade recorded $ 42.85 billion, of which $ 30.8 billion were imports.

The trade exchange between Egypt and the major trading partners rose to $ 28.8 billion, compared with $ 25.1 billion a year earlier.

The volume of Egyptian exports to the most influential commercial institutions increased during the first half of the same period to reach $ 8.4 billion, compared to $ 7.5 billion.

In addition, the volume of Egyptian imports amounted to $ 20.3 billion, compared to $ 17.5 billion.

[caption id="attachment_52986" align="aligncenter" width="491"] Containers at the Suez canal, Egypt [/caption]

Data indicated that China was the major trading partners with Egypt, with a trade exchange of $ 3.3 billion, of which imports recorded $ 3.1 billion, and exports $ 254.6 million.

The United States came in second place with $ 3 billion, of which $ 1.7 billion were Egyptian imports and $ 1.3 billion were recorded as exports.

The United Arab Emirates (UAE) ranked third with a trading volume of $ 2.79 billion.

Moreover, Saudi Arabia came in the fifth spot with a trading volume of $ 2.5 billion, of which $ 2.12 billion were imports. A trading volume of $ 1.86 billion, placed Russia in the eighth spot.

Finally, the trade volume between Egypt and Turkey has been estimated at $ 1.68 billion. Egyptian imports to Turkey recorded $ 1.24 billion and exports $ 448.3 million.