Indonesia-Egypt trade exchange hits $136mn, drops 8.3%

The trade exchange between Egypt and Indonesia declined by 8.3 percent as it recorded around 136.4 million Egyptian pounds (US$15.3 million) in January 2016 versus 148.8 million pounds a year earlier.

Minister Plenipotentiary Commercial at Egyptian Embassy in Jakarta, Amin Abdelmeguid stated Tuesday that the deficit in trade balance between Egypt and Indonesia dropped to US$39 million in January 2016 from US$133 million in January 2015.

He added that Egyptian exports to Indonesia witnessed a leap last January as they recorded US$48.7 million opposed US$7.9 million in January 2015, marking 516 percent increase.

Meanwhile, Indonesian imports to Egypt sagged by 37.7 percent as their volume reached around US$87.7 million compared to US$140.9 million in January 2015.