Egypt-UAE trade falls 13.5% in first five months

The volume of trade exchange between Egypt and United Arab Emirates fell 13.5 percent to $1.573 billion during the first five months of this year from $1.813 billion last year.

Trade between the two countries dropped 17 percent to $302.51 million last May from $354.361 million during the same month in 2017, according to a bulletin released by Egypt’s state-owned statics agency CAPMAS on Thursday.

Egyptian imports from Emirate markets declined 13.3 percent to $362.03 million during the January-May 2018 period, versus $417.473 million during the same period in 2017.

In May, the imports slipped 22.6 percent to $84.325 million, compared with $108.923 million during the same month of last year.

“Egypt’s exports to UAE fell 13.2 percent to around $1.211 billion during the first five months of 2017, against $ 1.395 billion during the same period in 2017,” CAPMAS said.

In May, the exports decreased 11.1 percent to $218.185 million from $245.438 million last year.

Emirates captured 8.8 percent out of the total volume of the Egyptian exports during the January-May 2018 period.

Egypt’s fruits and edible seeds exports reduced 9.1 percent to $35 million during the first five months of the current year, against $38.508 million during the same period of last year.

Perfumes and cosmetics exports slipped 8.5 percent to $6.588 million from $11.899 million. Meanwhile, furniture, lighting, and signs exports fell 6.6 percent to $22.86 million from $24.465 million.

Gems and precious metals exports rose 19.6 percent to $876.162 million, compared with $732.568 million.