Trade News
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Fewer exports widen Egypt’s trade deficit by 10.3% in September
Egypt’s trade deficit increased by 10.3 percent to reach $3.24 billion in September compared to $2.84 billion in the same month last year.
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CAPMAS: Egypt‘s Exports to Cyprus Jumps 20.3% to $70.5 Mln
The report stated that the value of Egyptian imports from Cyprus amounted to $8.4 million during the first nine months of 2023.
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Egyptian Mercantile Exchange’s board names CEO, Managing Director
The Board of Directors of the Egyptian Mercantile Exchange (EMX) appointed Hossam El-Garrahy as CEO and Managing Director.
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British International Investment portfolio in Egypt hits $600m: Sherine Shohdy to DNE
She highlighted the country’s promising investment climate and the corporation’s ongoing support for Egyptian businesses.
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Egyptian engineering exports surge 8.5% to $3.5bn in 10M 2023
The EECE’s monthly report highlighted that engineering exports in October 2023 alone achieved a remarkable 22% growth.
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Commodities Worth USD 63 Billion Released From Egyptian Ports in 2023
The Egyptian Customs Authority (ECA) announced that they are continuing their efforts in expediting the release process.
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Harnessing power of spontaneous shopping: Insights from Black Friday and Cyber Monday
A Salesforce survey revealed that consumers spent a whopping $1.14trn online globally during the Holiday Season.
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Majid Al Futtaim Holding Group to invest $1B into Egyptian markets
The company has a strategy to expand the number of Supeco stores, which offer wholesale prices, to 144 by 2030.
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Egypt’s new foreign currency VAT doesn’t apply to imports: Minister
Egypt doesn’t collect the value-added tax in foreign currency on imports but on goods and services that are typically paid for in foreign currency.
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Egyptian gov’t gives merchants 10 days to adjust sugar prices: Supply Minister
Egypt's Minister of Supply and Internal Trade Ali Moselhi revealed on Sunday that merchants would be given a ten-day period to regulate prices.
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Egypt releases $63 billion worth of imported goods with $5 billion remaining in ports
Egypt has released imported goods valued at $63 billion from its ports since the beginning of 2023.
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Oman, Egypt discuss establishing joint investment fund
This is to inject funds into a number of industries such as agriculture, food manufacturing, and pharmaceuticals.
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S. Korea's trade commission holds hearing on Egyptian white cement
The commission, meanwhile, also launched a separate probe into a patent infringement allegation on disposable surgical gowns imported from China.
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Trade exchange between Egypt, COMESA countries increases to $5.431bn in 2022: CAPMAS
Egypt’s exports to COMESA countries reached $3.544bn in 2022, compared to $3.066bn in 2021, with an increase of 15.6%.
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Egypt's Black Friday: Will consumers embrace discounts despite inflation, boycott campaign?
One prominent factor driving the surge in Black Friday excitement among Egyptian shoppers is the growing demand for online shopping.
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Egypt, Bahrain sign 15 cooperation initiatives to strengthen bilateral relations
One of the key objectives outlined by Egypt and Bahrain is to enhance trade exchange by addressing obstacles that hinder market access.
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First Gulf-Egyptian Business Forum concludes with 11 recommendations
The forum concluded with several recommendations aimed at enhancing economic, trade, and investment cooperation.
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Trade Between Saudi Arabia & Egypt Hit USD 20.4 Billion in 2022
This marks a 40% increase compared to trade between Saudi Arabia and Egypt in 2021.
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Saudi Arabia seeks to increase trade with Egypt to $100 bln
Saudi Arabia is seeking to increase mutual trade with Egypt to $100 billion, said Second Vice Chairman of the Federation of Saudi Chambers.
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Egypt's International Cooperation Minister participates in G20-Africa Summits
International Cooperation Minister Rania Al-Mashat joined on Tuesday the G20 Compact with Africa (CwA) summit hosted by Germany.