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Chinese exports to Egypt reach $7.94bn in 7 months

Egyptian President Abdel Fattah Al-Sisi (L) and Chinese President Xi Jinping (R) shake hands during their meeting at the Great Hall of the People in Beijing, China on 1 September, 2018 [Egyptian Presidency Handout/Anadolu Agency]
Egyptian President Abdel Fattah Al-Sisi (L) and Chinese President Xi Jinping (R) shake hands during their meeting at the Great Hall of the People in Beijing, China on 1 September, 2018 [Egyptian Presidency Handout/Anadolu Agency]

China’s exports to Egypt has risen to $7.94 billion during the period from January to July, the Chinese General Administration of Customs (GAC) announced yesterday.

“The trade volume between China and Egypt has increased by 2.1 per cent year on year,” GAC said.

Egyptian media recently reported that the Chinese imports from Egypt had reached $750 million during the same period.

In July 2017, Egypt-China trade volume amounted to $1.16 billion, $1.1 billion of which were Chinese exports to Egypt, while $0.06 billion others were in Egyptian exports to China.

According to official data, Egypt’s total exports to China amounted to about $408 million in 2017, compared to some $255 million in 2016.

Read: Egypt orders release of workers who protested for salary increases

As of August, Egypt ranks the 52nd on China’s list of trade partners.

Following the 2011 Arab Spring, the Egyptian government has been launching several economic reform initiatives to encourage domestic production and industrialisation, in an attempt to revive the country’s crippling economy.

The initiatives come as part of the International Monetary Fund (IMF) $12 billion three-year loan deal which was signed in 2016.

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