Egypt’s foreign trade rises to $78.4 bln in 10 months

Egypt’s foreign trade reached $78.4 billion during the first ten months of this year, up from $67.09 billion last year, according to a fresh report issued by the General Organisation for Export and Import Control (GOEIC) on Sunday.

The trade volume rose 9.7 percent last October to record about $8.05 billion, compared with $7.27 billion in 2017, it added.

The trade balance deficit increased by 24 percent to $37.12 billion in the last 10 months, compared with $29.99 billion in the same period of 2017, the report read.

EU countries accounted for 30 percent of Egypt’s foreign trade to reach 23.5 billion dollars, compared with $21.6 billion in the corresponding period last year.

The value of trade with Arab countries from January to October 2018 reached $11.5 billion, compared with $10.1 billion during the same period of 2017.

Trade volume with non-Arab African countries hit $2.1 billion, up from $1.7 billion dollars during the same period in 2017.

Egypt-US trade reached about $5.75 billion in the first 10 months of 2017, compared with 4.24 billion in the same period of 2017. The UAE was the largest importer of Egyptian products with $1.70 billion.

Egypt’s non-oil exports in the first 10 months of 2018 registered $20.6 billion, compared with $18.5 billion in the same period of 2017.

Source: MENA