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Thursday, 22 August 2019

Trade exchange between Egypt, US hit USD 2.9 bln in 4 months : Report

MENA , Tuesday 9 Jul 2019
Views: 1372
Views: 1372

Trade exchange between Egypt and the US hit $2.966 billion during the period from January to April, 2019, up by about 25.7% from the corresponding period of 2018, according to the Egyptian Commercial Office in Washington on Tuesday.

In a statement released by the office on the development of trade relations between Cairo and Washington from January through April, 2019, it said that the deficit in trade balance between Egypt and the US stood at $1.182 billion against $1.028 billion in 2018 with an increase of 15%.

Egyptian exports to the US increased by 34.1% from $665.4 million in 2018 to $892.3 million in 2019.

Petroleum exports, which make up 19.8% of total Egyptian exports to the US, increased by 44%, recording $176.9 million.

Egypt's non-petroleum exports to the US, which make up 80.2% of total Egyptian exports to the US, increased by about 31.8%, hitting $715.4 million. 

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