(MENAFN- Daily News Egypt)
The Central Bank of Egypt (CBE) has disclosed that Egypt's foreign trade volume during the first quarter of fiscal year 2023/24 reached $24.595bn. Of this total, approximately $16.269bn represents imports, while $8.325bn corresponds to exports.
In a recent report, the CBE further elaborated on the trade exchange between Egypt and its top trade partners-14 countries that collectively account for 63.9% of the total trade volume. Here are the key details:
The UAE ranked first among Egypt's trade partners, the UAE had a trade exchange volume of $2.202bn during the specified period. This included $1.248bn in imports and $953.7m in exports. Saudi Arabia secured the second position. Saudi Arabia's trade value with Egypt amounted to $1.731bn, with $1.340bn in imports and $391.3m in exports. The USA ranked third, with a trade volume of $1.667bn. Imports stood at $816.6m, while exports totalled $850.5m. In fourth place, China's trade value reached $1.574bn, comprising $1.402bn in imports and $171.4m in exports. Germany occupied the fifth spot, with a trade exchange volume of $1.446bn. Imports accounted for $1.008bn, and exports were $437.7m. The volume of trade exchange with Italy amounted to $1.186bn, with $516.9m in imports and $669.1m in exports. The UK's trade value stood at $1.179bn, with $568.4m in imports and $611.3m in exports. Turkey ranked eighth, with a trade volume of $949.1m. Imports were $539.7m, and exports were $409.4m. The trade exchange between Egypt and Switzerland amounted to $918.3m, with $583.5m in imports and $334.8m in exports. India's trade value was $680.3m, with $515.6m in imports and $164.7m in exports. Egypt's 11th top trade partner, Brazil, had a trade exchange volume of $580.4m. Imports were $541.3m, and exports were $39.1m. Russia followed closely with a value of $544.7m, including $494.9m in imports and $49.8m in exports. Kuwait's trade value was $528.6m, with $459.6m in imports and $69m in exports. The volume of trade exchange between Egypt and France amounted to $524.8m, with $352.2m in imports and $172.6m in exports.
Additionally, Egypt's trade with other countries totalled $8.881bn, comprising $5.880bn in imports and $3bn in exports, according to the CBE.
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