Egypt-G20 Trade Exchange Rises by 16.6%

Trade exchange between Egypt and the Group of 20 major countries (G20) increased by 16.6% in 2018 compared to $57.2 billion in 2017, according the Central Agency for Public Mobilization and Statistics (CAPMAS).

Egypt’s exports to G20 countries rose by 13.7% in 2018 compared to $12 billion last year, the CAPMAS said in a statement on Thursday

On the other hand, Egypt’s imports from G20 nations rose by 17.4% hitting $53.1 billion in 2018, compared to $45.2 billion a year earlier.

It added that Italy ranked first among the G20 members in terms of exports from Egypt, totaling $2.04 billion, followed by Turkey, the US, Saudi Arabia, and the UK with exports worth $2 billion, $1.7 billion, $1.4 billion, and $1.3 billion, respectively.

Meanwhile, China ranked first among G20 countries in terms of imports to Egypt in 2018 with $11.4 billion, followed by Saudi Arabia, the US, Russia, and Germany with $5.6 billion, $5.4 billion, $4.8 billion, and $4.1 billion, respectively.

The UK topped the G20 members during the first half of 2018/2019 FY in terms of investing in Egypt with $2.4 billion, followed by the US, Saudi Arabia, Germany, and France with $1.1 billion, $222.8 million, $115 million, and $88.7 million, respectively.

The 2019 G20 summit will be the 14th meeting the group. It will be held on 28-29 June at the International Exhibition Center in Osaka, Japan. It will be the first G20 summit to be hosted in Japan.

The G20 membership comprises a mix of the world’s largest advanced and emerging economies, which represent two-thirds of the world’s population.

The members of G20 are: Japan, Saudi Arabia,  Canada, Australia, Argentina, Brazil, Mexico, Russia, China, Germany, France, Italy, India, Korea, Russia, South Africa, Turkey, the United states (US), the European Union (EU), the United Kingdom (UK).