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Egypt’s Foreign Trade Hits USD51.5 Billion in H1 of FY 2023/24

Egypt’s Foreign Trade Hits USD51.5 Billion in H1 of FY 2023/24

– Egypt’s foreign trade volume for H1 FY 2023/2024 reached approximately $51.555 billion, with imports at $35.106 billion and exports at $16.449 billion.

– The top 14 trade partners accounted for 62.8% of the total trade volume, amounting to $32.402 billion, with the UAE, Saudi Arabia, and the United States leading the list.

– The UAE emerged as the top trade partner with a volume of $4.779 billion, followed by Saudi Arabia at $3.433 billion and the United States at $3.326 billion.

Egypt’s foreign trade volume for the first half of fiscal year 2023/2024 reached approximately $51.555 billion. Imports accounted for around $35.106 billion, while exports totaled $16.449 billion.

A recent report by the Central Bank of Egypt highlighted the trade exchange volume between Egypt and its top 14 trade partners, who collectively represent 62.8% of the total trade volume.

During this period, the trade volume with these partners amounted to about $32.402 billion, including $21.518 billion in imports and $10.884 billion in exports.

The United Arab Emirates emerged as Egypt’s leading trade partner, with a trade exchange volume of approximately $4.779 billion, including $2.817 billion in imports and $1.962 billion in exports.

Saudi Arabia followed closely in second place, with a trade volume of $3.433 billion, comprising $2.635 billion in imports and $798.2 million in exports.

The United States ranked third, with a trade volume of $3.326 billion, consisting of $1.704 billion in imports and $1.622 billion in exports.

China held the fourth position, with a trade volume of $3.312 billion, including $2.980 billion in imports and $321.9 million in exports.Germany occupied the fifth spot, with a trade volume of $2.647 billion.

Within this, imports amounted to $1.873 billion, and exports stood at $774.7 million.

The trade volume with the United Kingdom reached $2.482 billion, with $1.247 billion in imports and $1.234 billion in exports.

Italy followed closely with a trade volume of $2.397 billion, including $1.236 billion in imports and $1.161 billion in exports.

Turkey ranked eighth, with a trade volume of $2.098 billion, comprising $1.198 billion in imports and $900.1 million in exports. Trade between Egypt and Switzerland reached approximately $1.913 billion, with $1.134 billion in imports and $778.8 million in exports.

India’s trade volume was $1.375 billion, including $999.8 million in imports and $375.8 million in exports. Brazil secured the 11th position among Egypt’s major trade partners during the first half of 2023/2024, with a trade volume of $1.318 billion, including $1.246 billion in imports and $72.3 million in exports.

France followed with a trade volume of $1.166 billion, comprising $786.3 million in imports and $379.8 million in exports. Russia’s trade volume stood at $1.102 billion, with $1.012 billion in imports and $90.4 million in exports.

Lastly, trade between Egypt and the Netherlands amounted to approximately $1.047 billion, with $644.9 million in imports and $402.1 million in exports.According to the Central Bank, trade with other countries totaled approximately $19.153 billion, with imports accounting for $13.588 billion and exports for $5.564 billion.

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