(2 minutes read)
According to the Central Bank of Egypt, (CBE) UAE has emerged as the top-ranked trade partner of Egypt during the first quarter of 2022/2023. The bilateral trade exchange amounted to about $2.338 billion.
According to the Central Bank of Egypt, (CBE) UAE has emerged as the top-ranked trade partner of Egypt during the first quarter of 2022/2023. The bilateral trade exchange amounted to about $2.338 billion. The imports stood at $1.489 billion and exports at $849.2 million, indicating a trade deficit.
China was ranked as the second most important trading partner with a trade turnover of $18.763 billion, with $11.681 billion in exports and about $7.081 billion in imports.
The other principal trading partners of Egypt during the same period included The United States of America in the third place with trade exchange amounting to $2.114 billion, Saudi Arabia in the fourth place with a volume of trade of $0.081 billion, and Germany in the fifth position recording a trade turnover of $1.257 billion.
Read Also;
http://trendsnafrica.com/egypt-china-handhold-for-production-of-steel-for-exports/
http://trendsnafrica.com/world-bank-approves-a-new-country-partnership-framework-for-egypt/
CBE reported that Egypt’s total foreign trade during the first quarter (Q1) of the fiscal year 2022/2023 touched $29.032 billion. Egypt shows a negative balance of trade with imports at $19.067 billion, and exports at $9.965 billion. More than 64 percent of the total trade was claimed by the top 14 trading partners.
