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Egyptian exports to USA fall 37.6%, imports rise 7.6%

: Thursday, August 07 - 2014 @ 09:31

Egyptian exports to the US dropped 37.6% in 2013 while imports increased 7.6%, reported. Central Agency for Public Mobilization & Statistics (CAPMAS). Exports to the USA recorded EGP8.1bn, compared to EGP13bn the year before and the imports reached EGP35.8bn, compared to EGP 33.2bn in 2012. Daily News Egypt reported. Exports to the US were dominated by ready-made clothes and furnishing products, with both representing 61.6% of the total exports, compared to 38% in 2012, CAPMAS reported. “Imports of machinery, electric equipments and their spare-parts ranked the first as they represented 17.3% during 2013 and 18.3% of Egypt’s total imports from the USA and during 2012,” CAPMAS added. The agency noted that the investment flow between Egypt and the USA deteriorated during 2013, decreasing by 61.7% to EGP 82.67mn in 2013, compared to EGP 216.2mn in 2012. The Ministry of Planning expects products and service imports to grow by 6.4% to reach EGP 387.3bn in real prices during the fiscal year (FY) 2014/2015.

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Thursday, August 7- 2014 @ 9:31 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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