Egypt-U.S. trade exchange rises 26% in Q1

Big 5

The trade exchange between Egypt and U.S. hit $2.2 billion during the first quarter of 2019, up 26 percent from the corresponding period of 2018, according to the Egyptian Commercial Service (ECS) on Thursday.

The deficit in the trade balance between Egypt and the US declined by 0.5 percent, from $802.8 million to $798.7 million.

The head of the Egyptian trade representation office in Washington, Ahmed Adel Hosni, said Egyptian exports to the US increased by 48.8 percent, from $465.6 million to $692.9 million.

Non-petroleum exports, which make up 80.4 percent of total Egyptian exports to the US, increased by 39 percent, from $400.4 million to $556.6 million.

Egypt’s non-petroleum exports to the US include, among other things, textiles, ready-to-wear clothes, iron, steel and aluminium products.

Source: MENA

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