Egypt, East Asia trade exchange hits $34.5B in 2022

CAIRO – October 25, 2023: According to a report published by the Central Agency for Public Mobilization and Statistics (CAPMAS), the trade volume between Egypt and 11 East Asian countries reached $34.5 billion in 2022. The countries included in this trade exchange are China, Malaysia, India, Taiwan, Japan, Indonesia, Pakistan, Thailand, South Korea, Singapore, and Bangladesh.

CAPMAS reported that the total value of Egyptian exports to East Asian countries witnessed a 15.9 percent increase in 2022, reaching $7.7 billion, compared to $6.6 billion in 2021.

The report also highlighted that fuel, petroleum products, and extractive industry products were the leading exports in both 2021 and 2022, with a total value of $5.5 billion in 2022, a growth of 22.4 percent compared to $4.5 billion in 2021.

South Korea emerged as the top destination for Egyptian exports according to CAPMAS data. In 2022, Egypt's exports to South Korea saw a remarkable 220.0 percent increase, reaching $2 billion, up from $0.6 billion in 2021. Liquefied natural gas was the primary item exported to South Korea.

India ranked second with a total value of $1.9 billion in 2022, slightly lower than the $2 billion recorded in 2021. Crude oil was the prominent item exported to India.

Additionally, the total value of imports from East Asian countries experienced a 3.9 percent growth, reaching $26.8 billion in 2022, compared to $25.8 billion in 2021.

 Machinery, mechanical appliances, electrical equipment, transport equipment, and their parts were the primary imports in both 2021 and 2022, with a value of $8.6 billion in 2022. However, this represented a 14.0 percent decrease compared to $10.0 billion in 2021.

China stood at the top of the list of countries from which Egypt imports goods. In 2022, Egypt's imports from China amounted to $14.42 billion, a slight increase from $14.40 billion in 2021. The most significant item imported from China was electrical machines, devices, and their parts.

India ranked second with imports totaling $4.1 billion in 2022, showing a 26.4 percent decrease from $3.2 billion in 2021. Meat, iron and its products, as well as organic and inorganic chemical products, were the primary items imported from India.