China-Egypt trade exchange 10.7% up in two months – report

Trade exchange between Egypt and China rose 10.7 percent to $2.087 billion in the first two months of 2019 from $1.863 billion during the same period in 2018.

The surplus in trade balance was in favour of China during January and February, amounting to $1.895 billion.

In February, the volume of trade between the two countries increased to around $1.034 billion against $947.109 million during the same month in 2018, Egypt’s state-run statistics agency CAPMAS said in its bulletin on Monday.

“Egypt’s exports to China dropped 50.2 percent to around $95.859 million during the first two months of the year, compared with $192.62 million during the same period last year,” the CAPMAS said.

China seized two percent share of the Egyptian exports during January and February of the current year.

Last February, Egypt’s exports reached $33.321 million from $127.859 million during the same month in 2018, marking a 73.9 percent decline.

“China was on top of list in terms of exporting to Egypt, seizing 16 percent share of Egyptian imports during January and February,” the agency added.

Chinese exports to Egypt grew 19.2 percent to about $1.991 billion during January and February, compared with $1.67 billion in 2018.

Egypt imported from China mainly, electric appliances and their spare parts worth $521.399 million, 29.8 percent growth from $401.54 million.

China also exported aluminum and articles thereof to Egypt worth around $83.885 million against $66.356 million last year, marking a 26.4 percent increase.

Egypt’s motor vehicles and parts imports from China climbed 87.6 percent to $124.852 million, compared with $66.543 million.