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Egypt’s Trade Volume with Other Countries Hits $110.4 Billion in FY2022/2023

Egypt's trade surged to $110.4 billion in FY2022/2023 with 14 countries leading the international trade, accounting for 61.1% of the total volume, translating to $67.469 billion.
08.11.23 | Source: EgyptToday

A recent report from the Central Bank of Egypt (CBE) reveals a significant increase in Egypt’s international trade volume. In the last fiscal year (FY2022/2023), the trade volume reached $110.4 billion, which comprises of $70.783 billion in imports and $39.624 billion in exports. This milestone was primarily due to an astounding performance across 14 countries that led international trade during the fiscal year, accounting for 61.1 percent of the total trade volume. These countries collectively contributed a staggering $67.469 billion to the total amount, with a division of $42.239 billion in imports and $25.229 billion in exports. For the remainder of the countries, the trade value recorded was $42.938 billion, consisting of a $28.543 billion value in imports and $14.394 billion in exports. Among the top trading partners, the United Arab Emirates (UAE) emerged as the largest trading partner for Egypt, with a trade value amounting to $8.540 billion. The USA and China followed closely with trade values of $7.606 billion and $7.504 billion, respectively. Other notable trade partners include Saudi Arabia with a trading volume of $6.555 billion, Turkey with $5.327 billion, and Germany with a trade value of $4.654 billion. These numbers reflect the strength and diversity of Egypt's trade relationships and hint at the potential for further growth in the coming years.