Trade exchange rates jump 16.8% in 1st 10 months of 2018

Trade exchange rates hiked 16.8 percent during the first 10 months of 2018, recording $78.41 billion, compared to $67.09 billion during the same months of 2017, with an increase of $11.31 billion, according to Ministry of Trade and Industry.

In a statement about non-petroleum foreign trade during January-to-October period, the ministry clarified Nov. 26 that Egypt’s exports rose 11 percent to $20.64 billion, compared to $18.55 billion during the same period of 2017.

Egypt’s imports during the 10 months of the current year hit $57.76 billion, compared to $48.54 billion during the compared period of 2017, with an increase of 19 percent or $9.22 billion.

As per geographical distribution of non-petroleum foreign trade, the ministry noted that trade exchange between Egypt and the United States of America abounded 35 percent to $5.75 billion during the first 10 months of 2018, compared to $4.25 billion during the same period of 2017.

Trade exchange with African countries reached $2.12 billion during January-October 2018 period, compared to $1.75 billion during the same period of 2017, with an increase of 21 percent, the statement read.