Egypt’s trade with U.S. rises 25.7% in four months

Trade exchange between Egypt and U.S. hit $2.966 billion during the period from January to April 2019, up by about 25.7 percent from the corresponding period of 2018, according to the Egyptian Commercial Office in Washington on Tuesday.

In a statement released by the office on the development of trade relations between Cairo and Washington from January through April, 2019, it said that the deficit in trade balance between Egypt and the US stood at $1.182 billion against $1.028 billion in 2018 with an increase of 15 percent.

Egyptian exports to the US increased by 34.1 percent from $665.4 million in 2018 to $892.3 million in 2019.

Petroleum exports, which make up 19.8 percent of total Egyptian exports to the US, increased by 44 percent, recording $176.9 million.

Egypt’s non-petroleum exports to the US, which make up 80.2 percent of total Egyptian exports to the US, increased by about 31.8 percent, hitting $715.4 million.

Source: MENA