ICEC

Egypt posts $2.3bn trade surplus with 19 states in 5 months

Egypt achieved a trade surplus with 19 countries in five months (from January to May 2018) with a total value that exceeds $2.35 billion.

Trade surplus is the amount by which the value of a country’s exports exceeds the cost of its imports.

During the five months, Egypt recorded a trade surplus with 14 Arab countries and five foreign countries.

The Arab Countries included the United Arab Emirates, Jordan, Syria, Libya, Mauritania, Yemen, Sudan, Somali, Palestine, Tunisia, Algeria, Djibouti, Lebanon, and Morocco.

On the other hand, the foreign countries are Cyprus, Slovenia, Israel, Kenya and Ethiopia.

The United Arab Emirates ranked the first in the list with a trade surplus of $848 million, as exports reached $1.2 billion, compared to imports of $362.03 million.

Jordan came in second place, with an amount of $209.3 million, in which exports recorded $294.9 million and imports hit $85.58 million.

Egypt’s exports to Syria reached $120.64 million, while imports recorded $35.5 million, marking a trade surplus of $85.13 million.

Trade surplus with Tunisia hit $117.95 million with exports of $202.54 million and imports of $84.59 million.

Palestine and Egypt recorded a trade surplus of $49.67 million as Egypt exported to it by $50.15 million and it imported by $481,000.

As per Cyprus, Egypt received imports from it worth $21.97 million, while exporting to it by $39.56 million, with a trade surplus of $17.58 million.

Egypt exports to Kenya are worth $143 million, compared to imports of $123.751 million, with a trade surplus of $19.261 million.

In general, Egypt’s exports reached $12.4 billion during the first five months of 2018; the Arab countries allocated $4.2 billion of it.

Source: Egypt Today

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