Complex Made Simple

Egypt, China trade exchange reaches $9.6 billion

North African country’s imports from the Asian nation increased by 17 per cent

The trade exchange between Egypt and China amounted to $9.6 billion during the period from January to September 2015, up by 13 per cent compared with the same period of 2014, according to a senior official.

Ayman Ali Othman, trade minister plenipotentiary at the Egyptian embassy in China, said that Egypt’s imports from China have increased by 17 per cent during this period and reached $8.9bn compared with $7.6bn in 2014.

He added: “the trade deficit between Egypt and China in the period from January to September 2015 reached $8.2bn, up by 22 per cent from the trade deficit between the two countries during the same period of 2014 value.

“Egypt’s oil exports to China fell during the period from January to September 2014 and its value dropped from $936.4m during that period to reach $485.5m in 2015.

(US$1 = AED3.67, at the time of publishing)