RIYADH: Egypt’s export to China increased by 20.8 percent to $1.7 billion in the first 11 months of 2022, compared to $1.4 billion in the same period in 2021, according to Egypt’s Central Agency for Public Mobilization and Statistics, also known as CAPMAS.
Egypt’s imports from China totaled $13.2 billion from January to November 2022, up from $13.1 billion in the same period in 2021, representing a 0.6 percent increase.
According to the official data, trade between Egypt and China increase by 2.6 percent during the first 11 months of 2022, reaching $14.9 billion from $14.5 billion during the same period in 2021.
The top 10 categories of goods sent by Egypt to China during the period were fuel, mineral oils and distillate products, cotton, and fruits, totaling $1.3 billion, $104.3 million, and $76.8 million, respectively.
Organic chemical items worth $868.5 million and equipment and electrical gadgets totaling $2.6 billion were among the top 10 commodity categories imported by Egypt from China.
China’s total investments in Egypt were $563.4 million in the fiscal year of 2021-2022, marking a 16.1 percent increase from $485.2 million in the fiscal year 2020-2021.
Egypt’s value of exports increased by 80 percent, reaching $4.5 billion in Nov. 2021
However, the trade balance deficit of Egypt decreased by 63.1 percent in November 2021 on an annual basis amounting to $1.9 billion. This is compared to $3.22 billion during the same period in 2020.
Meanwhile, the value of imports declined by 0.5 percent over the same period, reaching $5.6 billion.
