Egypt’s trade exchange with the Group of 20 nations rose 16.6 percent to $66.8 billion in 2018 compared to $57.2 billion a year earlier, official statistics agency CAPMAS said on Thursday.
The G20 is a group of 20 nations that represent 85 percent of the global economy. It brings together the world’s major advanced and emerging economies, comprising four European Union (EU) countries and 15 country members from the rest of the world. It includes Germany, France, Italy, the United Kingdom, Argentina, Australia, Brazil, Canada, China, India, Indonesia, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, and the United States.
Egypt’s exports to the G20 countries also climbed 13.7 percent to $13.7 billion in 2018, compared to $12 billion in 2017, the CAPMAS report added.
Italy was on the top of the list of the G20 countries in terms of receiving the Egyptian exports in 2018. Egypt’s exports to Italy recorded $2.04 billion. Turkey took second place, receiving Egyptian exports worth $2 billion, followed by the U.S. with exports of $1.7 billion. Saudi Arabia ranked fourth, receiving Egyptian exports of $1.4 billion, followed by the United Kingdom of $1.3 billion.
Mexico was in the last position, receiving Egyptian exports worth $30.8 million.
Meanwhile, Egypt’s imports from the G20 countries also surged 17.4 percent to $53.1 billion in 2018 from $45.2 billion in 2017.
China was on the top of the list of the G20 countries in terms of volume of imports to Egypt in 2018. Imports from China recorded $11.4 billion, while Saudi Arabia, the U.S., Russia, and Germany stood at $5.6 billion, $5.4 billion, $4.8 billion, and $4.1 billion, respectively. In addition, Mexico was on the bottom of the list, with exports amounting to $107.4 million.
The United Kingdom was the biggest G20 investor in Egypt in the first half of the financial year 2018/2019, with investments worth $2.4 billion. The U.S. came second, with investments worth $1.1 billion, followed by Saudi Arabia of $222.8 million. Germany ranked fourth, with investments worth $115 million, followed by France of $88.7 million. India came last position, with investments worth $1.5 million.