German-Egyptian trade volume hits £1.2bn in Q1 2016

The volume of trade exchange between Egypt and Germany fell by 2.7 percent during the first quarter of 2016.

The Egyptian-German trade exchange reached £1.28 billion in January-March 2016 opposed to £1.31 billion a year earlier.

The latest report released by German Arab Chamber of Industry and Commerce (GACIC) showed that Egypt’s imports from Germany climbed 13.4 percent in January-March 2016 to £1.04 billion from £914 million a year earlier.

Meanwhile, the Egyptian exports to Germany dropped during the first quarter of 2016 to £241.5 million from £399.7 million at the same period of 2015, making a 39.6 percent decline.

Egypt’s imports from Germany included machines and mechanical sets with cost estimated at £413.4 million, electric goods (£126.6 million), automotives and vehicles (£101.7 million), and pharmaceuticals (£50.2 million).

The report stated that Egypt’s exports to Germany in January-March 2016 encompassed inorganic chemicals with cost estimated at £86.3 million, fruits and nuts (£22.7 million), plastics (£11.8 million), and aluminium (£11.3 million).