Egypt-Algeria Trade Balance achieves its first Surplus in 10 Years

The balance of trade between Egypt and Algeria has made a surplus estimated as US$43 million for the first time in 10 years, Egyptian Minister Plenipotentiary Mohamed Sherif Fathy announced.

In contradiction with the parallel period of 2013, the balance of trade had witnessed a deficit worth US$89.9 million.

The Egyptian Minister further said -in a statement on Wednesday- the trade exchange volume between Egypt and Algeria has increased during 2014 by 3.9% or US$42.5 million, to eventually reach US$1107.8 million, versus US$1065.3 million in 2013.

He also added that the Egyptian exports to Algeria increased by more than 13% or US$78.7 million during 2014 to hit a record US$575.4 for the first time in 10 years, in comparison with US$487.7 in 2013.

Meanwhile, Egypt’s imports from Algeria shrank in 2014 to reach US$532.4 million, opposed to US$577.6 million in 2013.

Sherif also confirmed that the Egyptian imports volume from Algeria now enjoy a unique position in terms of the Algeria export agenda.

He further added that 2015 is expected to witness huge raise in the imports of liquefied natural gas from Algeria.

Egypt mainly imports from Algeria liquefied natural gas (butane), propane, aluminum nitrate, steel and iron, he said.