$2.4bn trade exchange between Egypt and COMESA

The trade exchange between Egypt and the Common Market for Eastern and Southern Africa (COMESA) countries achieved a surplus of nearly $2.4bn in 2014, according to the Egypt-Africa Trade Relations report issued by N GAGE Consulting.

The report said Egypt, prior to joining the COMESA, had a trade deficit of nearly $100m with its member states.

Egypt’s exports to Africa amounted to $3.8bn in 2014 (14% of total Egyptian exports), while imports from Africa stood at $1.2bn (1.7% of total imports), according to the report.

The report said the Egyptian government is seeking to reinforce Egypt’s trade relations with its African partners. Several Egyptian companies are investing heavily in Africa, including the Arab Contractors Company, Sewedy Electric, and Qalaa Holdings.