Egypt-France trade exchange rises over 9 months: CAPMAS

The trade volume between Egypt and France has increased during the first nine months of 2020, recording $1.6 billion according to the Egyptian Central Agency for Public Mobilisation and Statistics (CAPMAS)

The total value of Egyptian exports from January to September 2020 stands at $412 million, according to CAPMAS, while it was $654 million during 2019. Egyptian imports from France during the same period hit nearly $1.2 billion, while it was $1.7 billion in 2019.

The most notable Egyptian exports were electrical devices, with a value of about $134.9 million, followed by exports of fertilisers at $128.5 million. Exports of fuel and mineral oils amounted to about $126.4 million, while exports of ready-made garments amounted to $45.3 million, and exports of plastics amounted to about $44.9 million.

Meanwhile, Egypt’s most notable imports were pharmaceutical products, amounting to $255.2, followed by cars, tractors and bicycles, with a value of $219.2 million, while grain imports amounted to $171.8 million, electrical appliances at about $144.5 million, and imports of chemical products at $125.4 million.

The statistics report indicated that the total incoming investment from France amounted to $448.8 million, while the total outgoing investment in France amounted to $1.3 billion, including payment of loan instalments, so that the balance of foreign investments is in favour of the French side, which amounts to about $863.8 million during 2018/2019.

The remittances of Egyptians working in France amounted to $112.8 million, while the remittances of the French working in Egypt to France amounted to $11.6 million, and the balance of current transfers in favour of the Egyptian side was about $101.2 million during 2018/2019.

Trade volume between Egypt and France was estimated at $2.4 billion in 2019.