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Trade exchange between Egypt, China hits $16.2B in 2022

Trade exchange between Egypt and China rose 2.2% in 2022 reaching $16.2B. Significant growth was also observed in Egypt's exports to China, which marked a 25.1% increase.
25.09.23 | Source: EgyptToday

2022 saw a 2.2 percent hike in trade exchange between Egypt and China, reaching an impressive $16.2 billion as compared to $15.9 billion in 2021, according to data from the Central Agency for Public Mobilization and Statistics (CAPMAS). Egypt’s exports to China also saw significant growth, reaching $1.8 billion in 2022 as against $1.5 billion in the preceding year, marking a 25.1 percent growth. However, Egyptian imports from China showed a slight decline of 0.2 percent, with the value falling from $14.42 billion in 2021 to $14.40 billion a year later. Egypt's leading exports to China were fuel, mineral oils, and their distillation products which totaled $1.4 billion, followed by cotton, fruits, prepared animal feed, and textile fibers. The prominent imports from this Asian giant included electrical machinery, appliances, boilers, machinery, mechanical appliances, and tools. China's investments in Egypt recorded a 16.1 percent increase, reaching $563.4 million during the fiscal year 2021-2022. However, remittances from Chinese workers in Egypt showed a decrease of 25.2 percent during the same period.