Egypt-China trade exchange hits $13.9b in ’23

Egypt-China trade exchange value recorded $13.9 billion in 2023, down from $16.6 billion the year before, according to recent data by the state statistics agency CAPMAS.

Egypt’s exports to China slightly fell to $909 million in 2023 from $1.9 billion in 2022, the data showed. Meanwhile, Egypt’s imports from China were $12.9 billion in 2023, down from $14.8 billion in 2022.

However, exports from Egypt showed growth in certain sectors, including mineral fuels, mineral oils, and products of their distillation ($414 million), stone and cement products ($116 million), fruits ($78 million), electrical appliances ($31 million), and copper products ($27 million).

The top import category was electrical appliances ($4.3 billion), followed by iron and steel ($1.2 billion), synthetic textile fibres ($1.1 billion), organic chemical products ($790 million), and plastic products ($773 million).

China-Egypt investment and remittances held steady despite a trade decline:

• Chinese investment in Egypt rose to $956.7 million in fiscal year 2022/23, up from $563.4 million during fiscal year 2021/2022.
• Egyptian investment in China grew to $208.4 million in fiscal year 2022/23, compared to $126.5 million in fiscal year 2021/2022.
• Remittances of Egyptians in China increased to $19.5 million in fiscal year 2022/2023, while remittances of Chinese in Egypt decreased to $3.5 million.