Egypt’s Trade Surplus Rises to $2.35b in Five Months

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  • Egypt’s Trade Surplus Rises to $2.35b in Five Months

Growing manufacturing and strong export in Egypt has triggered a trade surplus of $2.35 billion with 14 Arab and five foreign countries between January and May 2018.

Trade surplus is the amount by which the value of a country’s exports exceeds the cost of its imports.

The Arab Countries included the United Arab Emirates, Jordan, Syria, Libya, Mauritania, Yemen, Sudan, Somali, Palestine, Tunisia, Algeria, Djibouti, Lebanon and Morocco.

On the other hand, the foreign countries are Cyprus, Slovenia, Israel, Kenya and Ethiopia.

The United Arab Emirates ranked the first in the list with a trade surplus of $848 million, as exports reached $1.2 billion, compared to imports of $362.03 million.

Jordan came in second place, with an amount of $209.3 million, in which exports recorded $294.9 million and imports hit $85.58 million.

Egypt’s exports to Syria reached $120.64 million, while imports recorded $35.5 million, marking a trade surplus of $85.13 million.

Trade surplus with Tunisia hit $117.95 million with exports of $202.54 million and imports of $84.59 million.

Palestine and Egypt recorded a trade surplus of $49.67 million as Egypt exported to it by $50.15 million and it imported by $481,000.

As per Cyprus, Egypt received imports from it worth $21.97 million, while exporting to it by $39.56 million, with a trade surplus of $17.58 million.

Egypt exports to Kenya are worth $143 million, compared to imports of $123.751 million, with a trade surplus of $19.261 million.

In general, Egypt’s exports reached $12.4 billion during the first five months of 2018; the Arab countries allocated $4.2 billion of it.

Egypt with a population of 95.69 million links northeast Africa with the Middle East.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]; Tel: +2347065163489.

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