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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Trade Exchange Between Egypt, US Records $5.3B

People shop at Al Ataba, a popular market in downtown Cairo, Egypt December 12, 2017. REUTERS/Mohamed Abd El Ghany

The Egyptian Commercial Service (ECS) revealed that the volume of trade exchange between Egypt and the US increased within the first seven months of 2019 hitting $5.35 billion in comparison to $4.47 billion in the same period in 2018.

The deficit between Egypt and the US decreased by 8.7 percent within the same period.

Meanwhile, the sum value of Cairo's exports to Washington increased by 37.5 percent from January to July in 2019 reaching $1.9 billion, according to ECS.

The Egyptian petroleum exports to the US increased to $662.9 million from January to July.

Egypt's US-imports reached $3.46 billion in 2019 in comparison to $3.09 billion in the same period in 2018.

This saw an increase of 11.8 percent, ECS's statement noted.

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