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Exporting to Egypt

Egypt Export Guide | Trade Finance Global

Exporting to Egypt

Due to the agricultural and industrial sectors that are not well-developed, it has been forecasted that Egypt would rely on the imports for most of its food, commodities and equipment. It has been reported Egypt’s import volumes reached to $43.98 billion which shows a 24% increase from the last year’s level. The country’s top imports would include oil products like refined petroleum ($6.6 billion) and crude petroleum (about $2 billion), and food commodities such as wheat ($2.5 billion) and corn ($1.5 billion).

Accounting for more than 10% of Egypt’s total imports is the United States, then followed by China with 10%, Italy at around 7%, Germany with 6.8% and last, by Saudi Arabia for 4.9%.

As reported by the Central Agency for Public Mobilization and Statistics, the highest peak of Egypt’s imports reached $7,111 million in August 2014 and hit its lowest points in July 1957 with on $33.05 million. In average from 1957 until 2015, imports in Egypt maintained at $1,222 million.
The country’s major import commodities would include mineral and chemical products that comprises 25% of total imports, agricultural products, livestock and food items which altogether forms about 24%, 13% for electrical equipment and machinery and base metals. In addition to these items, Egypt is also a known exporter of artificial resin, vehicles, textiles and footwear and wood products.

Egypt’s main import partner is the United States which accounts 10% of its total imports, then succeeded by China with 9.9%, Italy at around 7%, Germany with 6.8% and last, by Saudi Arabia for 4.9%.

Egypt Country Profile

Official Name (Local Language)Jumhuriyat Misr al-Arabiyah
CapitalCairo
Population94,666,993
CurrencyEgyptian Pound
GDP$342.8 billion
LanguagesArabic
Telephone Dial In20

Egypt Imports Profile

Imports ($m USD)

66,339

Number of Import Products

4,139

Number of Import Partners

173

Top 5 import partners

Country

Trade

% Partner Share

China

8,105

12.22

Germany

4,515

6.81

Italy

4,192

6.32

Saudi Arabia

4,148

6.25

United States

3,897

5.87

Top 5 Import Products at HS 6 digit level

Export product

Number

Petroleum oils, etc, (excl. crude); preparation

8.4%

Durum wheat

5.3%

Natural gas, liquefied

4.0%

Petroleum oils and oils obtained from bituminou

3.0%

Maize (excl. seed)

2.6%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Egypt

Agriculture

%

Product list

11.3%

Cotton, rice, corn, wheat, beans, fruits, vegetables; cattle, water buffalo, sheep, goats

Industry

%

Industry list

35.8%

Textiles, food processing, tourism, chemicals, pharmaceuticals, hydrocarbons, construction, cement, metals, light manufactures

Sevices

%

Services list

52.9%

Exporting to Egypt: What is trade finance?

Although Egypt provides a variety of export commodities such as insulated wire ($ 1.1 billion), nitrogenous fertilizers ($1 billion), textiles and chemicals, the core of Egyptian economy is its oil export. Each day, the country produces around 600,000 barrels and exports about 155,000 of them. Crude petroleum comprises $6.70 billion, petroleum gas meanwhile takes a $2.3 billion part while refined petroleum comprises $1.1 billion of the country’s overall export. In the past, about 90% of Egypt’s exports is made up of cotton and cotton textiles continue to grow to 16% in the 1970s. However, cotton was replaced by oil and petroleum products by 1985.

Italy, the United States and India are the primary export destinations of Egyptian goods, which comprises 9.4%, 7.1% and 6.2% if the total volume, respectively. It is also notable to mention that some European countries such as Germany and Spain along with Asian nations such as China and Japan are also considered top exporting markets for Egyptian oil and other products.

Information

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Egypt Economic Statistics

Government Website

http://www.egypt.gov. eg/english/home.aspx

Sovereign Ratings

https://countryeconomy. com/ratings/egypt

Central Bank

Central Bank of Egypt

Currency USD Exchange Rate

9.71

Unemployment Rate

13.1%

Population below poverty line

25.2%

Inflation Rate

12.1%

Prime Lending Rate

9.75%

GDP

$342.8 billion

GDP Pro Capita (PPP)

$12,100

Currency Name

Egyptian Pound

Currency Code

EGP

World Bank Classification

Lower Middle Income

Competitive Industrial Performance

115/138

Corruption Perceptions Index

117/180

Ease of Doing Business

120/190

Enabling Trade Index

116/136

Currency in Egypt

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