Egypt-China Q1 Trade falls 23% due to coronavirus – CAPMAS

Trade between Egypt and China fell by 22.8 percent year-on-year in the first quarter due to the coronavirus pandemic.

Bilateral trade in the January-March period fell to $2.55 billion compared with $3.304 billion in the same period last year, the Egyptian official statistics agency CAPMAS said in a recent report.

China has captured 10.7 percent of Egypt’s total foreign trade during the first month of 2020, the report read.

In March, bilateral trade dropped by around 43.5 percent to $622.03 million from $1.1 billion in the same month last year, the CAPMAS report added.