KSA-Egypt trade volume grows to SR117.5 billion in 10 years

The volume of trade exchange between Saudi Arabia and Egypt has registered significant increase reaching SR117.5 billion ($ 31.3 billion) in the last 10 years (2004-2013), according to a financial report.

The report, compiled by Al-Eqtisadiyah daily, says the trade balance was in favor of the Saudi side at an estimated surplus of SR46.2 billion ($12.3 billion), or 39 percent of trade between the two countries in the above period.

In 2013, trade exchange between the two countries stood at SR20 billion ($5.3 billion) where Saudi exports to Egypt stood at nearly SR12.1 billion ($3.2 billion) whereas its imports from Egypt amounted to SR7.9 billion ($2.1 billion), the report said quoting data released by the Central Department of Statistics and Information (CDSI).

The trade balance between the two countries registered a surplus of SR4.2 billion ($1.1 billion) in favor of Saudi Arabia in 2013, or 21 percent of the trade volume in the same year, the report said.

Over the past five moths of the 2014, Saudi Arabia has been on top of countries receiving Egyptian exports at 6.4 billion Egyptian pounds (SR3.4 billion, or $900 million).