Egypt’s trade with COMESA marks $5.4B in 2016

CAIRO – 7 December 2017: "Egypt’s trade with the Common Market for Eastern and Southern Africa (COMESA) registered $5.4 billion in 2016," head of the Regional Investment Agency Heba Salama said Thursday.

"Around $2.9 billion were exports from Egypt to COMESA countries, while $2.5 billion were imports," Salama told state-run news agency MENA on the sidelines of the Africa 2017 Forum, currently taking place in Sharm El-Sheikh.

Egypt’s main exports included plastics, aromatic oils, sugars, machinery, electrical equipment, spare parts, and natural, artificial or semi-precious pearls.

It also included metals, mineral fuels, minerals, vegetables, fruits, nuts, manufactured materials, soaps, washing machines, lubricants and steel materials.

"The deficit in the trade balance slumped by $12.23 billion (37 percent) in the first eight months of 2017, to stand at $20.1 billion compared to $32.4 billion in the same period in 2016," Minister of Industry and Foreign Trade Tarek Kabil stated.

Non-petroleum exports in that period increased by 11 percent to register $15 billion, compared to $13.5 billion from January to August 2016.

Meanwhile, non-petroleum imports declined by 23 percent to $45.5 billion from $35.1 billion in the same period in 2016, marking a 23-percent decrease.