Egypt, China trade exchange declines 20.2 % hit by coronavirus

 Egypt and China balance of trade has witnessed a notable decline during January by 20.2 percent recording $886.664 million dollars, compared to $1.066 billion dollars a year earlier on the back of coronavirus.

According to Central Agency for Public Mobilization and Statistics (CAPMAS) bulletin, the value of deficit in the trade balance between the two countries during January 2020 amounted to $648.904 million in favor of China.

Perhaps the main reason behind this decline is the significant decrease in the value of Egyptian imports from China in January by 23.4 percent to record $ 767.784 million compared to $ 1.003 billion a year earlier.

However, there was an increase in the value of Egyptian exports to China during January to reach $118.88 million, compared to $62.941 million in the comparable period with a growth of 88.9 percent.

Thus China acquired 4.8 percent of the total Egyptian exports to the world.