Saudi Arabia Becomes Egypt's Second-Largest Trading Partner in Q1 2024

KSA, 16 October, 2024 : The Central Bank of Egypt (CBE) has reported that Saudi Arabia ranked second among Egypt's top trading partners in the first quarter of 2024, with a total trade volume of $5.209 billion. This includes $3.871 billion in imports and $1.338 billion in exports.

From July 2023 to March 2024, Egypt's foreign trade reached $77.039 billion, comprising approximately $52.920 billion in imports and $24.119 billion in exports. The trade exchange between Egypt and its top 14 trading partners accounted for 63.6% of this total, amounting to $48.990 billion.

The United Arab Emirates led as Egypt's top trading partner, with a trade volume of $6.998 billion, followed closely by Saudi Arabia. The United States ranked third with $5.091 billion in trade, while China followed closely behind at $5.077 billion. Other notable trading partners included Germany, the UK, Italy, Turkey, Switzerland, Russia, Brazil, India, France, and the Netherlands.

The report highlighted that Egypt's trade exchange with other countries totaled $28.049 billion, which includes $19.936 billion in imports and $8.112 billion in exports.

Source : www.zawya.com