Cairo – Mubasher: Trade exchange between Egypt and Spain rose 8.4% year-on-year to EUR 2.39 billion in 2017, compared to EUR 2.20 billion a year earlier.
The growth of Egypt-Spain bilateral trade has contributed to narrowing down balance deficit by 76.5% to EUR 133.3 million last year, versus EUR 568.7 million in 2016, state-run news agency MENA reported, citing trade minister Tarek Kabil.
Egyptian exports to Spain hiked 52.3% to EUR 640.5 million in 2017, compared to EUR 420.5 million in the year before, Kabil indicated.
Meanwhile, Egypt’s imports from the European nation fell 8.6% year-on-year to EUR 1.26 billion last year from EUR 1.38 billion, he added.
For his part, head of the Egyptian Commercial Service Office (ECS) Ahmed Antar said that the increase of the North African nation's exports to Spain was driven by a 451% hike in iron and steel exports that stood at EUR 92.23 million.
