ICEC

Egypt-U.S. trade rises 86.9% in 2017: CAPMAS

Egypt’s trade with the United States rose 86.9 percent year-on-year to 92.7 billion Egyptian pounds ($5.2 billion) during 2017, the country’s state statistics agency CAPMAS said on Wednesday.

In 2016, trade between the two countries stood at 49.6 billion pounds.

Egypt’s exports to the United States also rose 105.5 percent to 23.6 billion pounds compared to 11.5 billion pounds a year earlier. United States seized 5.1 percent of Egypt’s exports to the world, the CAPMAS bulletin showed.

Exports of ready-made garments came in first place with 51.0 percent of Egypt’s total exports to the U.S. market, reaching 12.0 billion pounds in 2017, compared to 6.4 billion pounds in 2016, marking an increase of 88.8 percent.

Egyptian imports from the United States reached 69.1 billion pounds in 2017, compared to 38.1 billion pounds in 2016, marking an increase of 81.4 percent. They represented 5.9 percent of Egypt’s imports from the world.

Imports of boilers, machinery, devices, as well as mechanical tools and its parts ranked first, representing 12.9 percent of Egypt’s total imports from the U.S. They rose 58.3 percent to 8.9 billion pounds in 2017, compared to 5.6 billion pounds in 2016.

U.S. investments in Egypt hiked 195.7 percent to 79.9 million pounds in 2017, compared to 27.02 million pounds in 2016.

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