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EGYPT’S EXPORTS TO EAST ASIA HIT $4.3BN IN 2018

The Egyptian Central Agency for Public Mobilization and Statistics (CAPMAS) has reported an increase in the value of exports to East Asian countries by 44.5% in 2018, reaching $4.3 billion, compared with $2.3 billion in 2017.

A statement released by the agency on Wednesday said imports from East Asian states increased by around 24.6% reaching $21.2 billion in 2018, against $17 billion in 2017.

India is number one with imports amounting to $1.114 billion in 2018, compared with $982.3 million in 2017, registering an increase by 28.2%, according to the statement.

Egypt mainly exports crude oil to India.

China, which mainly imports crude oil from Egypt, comes in number two with imports worth $1.034 billion in 2018, compared with $692.9 million in 2017 with an increase by 49.4%, the statement read.

However, China came first among East Asian states exporting to Egypt, the statement added. In 2018, China’s exports to Egypt amounted to $11.143 billion, against only $8.062 billion in the previous year with an increase by 41.8%.

Also Read: Egyptian Cotton & Textile Industries to merge subsidiaries

 

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