Cairo – Mubasher: Trade exchange between Egypt and Saudi Arabia increased 6.6% year-on-year in January 2018.
Bilateral trade between the two countries amounted to $226 million during the first month of 2018, compared to $212 million in the same month a year earlier, Egypt’s General Organization for Export and Import Control’s bulletin revealed.
Trade balance between Egypt and the oil-rich kingdom posted a $6 million surplus for Saudi Arabia in January, the bulletin added.
Egypt’s exports to the GCC nation levelled down 3.3% to $116 million in January, from $120 million in the prior-year period.
Trade volume between the two nations retreated 38.4% to $2.868 billion during the full year 2017 against $3.97 billion in the year before.
Saudi Arabia's imports from Egypt went down 12.5% to $1.5 billion last year compared to $2.79 billion in 2016.
The kingdom’s exports to the North African nation jumped 19.6% to $110 million in January 2018 versus $92 million during the corresponding month a year ago.
Egypt’s imports from Saudi Arabia tumbled 40.3% to $1.3 billion during 2017, from $2.18 billion in 2016.
