The value of trade exchange between Egypt and the People’s Republic of China dropped by 8 percent last January to reach $ 847.888 million compared to $ 915.833 million during the same period last year.
According to a report released by the Central Agency for Public Mobilization and Statistics (CAPMAS), Egypt’s exports to China dropped by 3.6 percent to reach $ 62.455 million last January from $ 64.761 million a year earlier.
However, China topped Egypt’s exporters, accounting for 15.3 percent of total imports during the same month at $ 785.433 million, compared with $ 857.072 million a year earlier, reporting a decline of 7.7 percent.
The report revealed that the most prominent Egyptian imports from China, which decreased by 22.1 percent, were machinery and electrical appliances, valued at $ 162.461 million compared to $ 208.652 million last January.
However, imports of boilers, machinery, and spare parts increased by 18.4 percent at a value of $ 125.062 million against $ 105.661 million last year.
The value of Egypt’s imports of iron and steel products rose to reach $ 63.986 million compared with $ 32.266 million last year, reporting a growth of 98.3 percent.
In addition, vehicles, tractors and their spare parts observed a 70.9 percent growth at a value of $ 53.898 million this January compared to $ 31.533 million the preceding year.
Today, President Abdel Fattah El-Sisi held a session of talks with his Chinese counterpart Xi Jinping in Beijing ahead of the Belt and Road Forum for International Cooperation (BRFIC) that will run until next Saturday.