Egypt’s foreign trade volume increased

The Central Bank of Egypt (CBE) announced on Saturday that the volume of Egypt’s foreign trade increased by the end of March 2022 to about $98.476bn, compared to about $71.721bn at the end of March 2021 — an increase of about $26.755bn.

According to the monthly report issued by the CBE, the volume of Egypt’s imports rose to about $66.007bn, compared to $51.148bn, and that the value of its exports rose to $32.469bn, compared to $20.573bn.

It added that 14 countries — representing Egypt’s most important trading partners — accounted for about 63.4% of the total volume of trade exchange between Egypt and the outside world with a value of about $62.389bn, noting that exports amounted to $21.236bn.

It also pointed out that China ranked first in terms of the most important trading partners with Egypt, with a trade exchange volume of about $8.633bn, $7.661bn of which were imports and $972m were exports. Next up was the US in second place with a trade exchange volume of $7.088bn, $3.686bn of which were imports and $3.402bn were exports.

Saudi Arabia ranked third with a trade exchange volume of $6.696bn, $5.337bn of which were imports and $1.359bn were exports. This was followed by the UAE with a trade exchange volume of $6.570bn, $4.428bn of which were imports and $2.142bn were exports.