Egypt's exports to U.S. rise by 12.3 pct: report

BY  | FROM  | 2017-07-11 14:59

Egypt's exports to the U.S. reached 10.6 billion Egyptian pounds (about 592.5 million U.S. dollars) in 2016, marking a 12.3 percent year-on-year increase, said Egypt's statistics authority on Sunday.
"Egypt's exports to the United States in 2016 represent 4.7 percent of the country's annual exports to the world," said the Central Agency for Public Mobilization and Statistics (CAPMAS) in its report on Egypt's economic relations with the United States.
The readymade clothes ranked top of the Egyptian exports to the United States, reaching a total 5.9 billion pounds (about 329.8 million dollars) and representing 56.1 percent of Egypt's total annual exports to the United States in 2016, according to the report.
As for Egypt's annual imports from the United States, they increased by 8.9 percent from 33.5 billion pounds (about 1.87 billion dollars) in 2015 to 36.5 billion pounds (about 2 billion dollars) in 2016.
"U.S. investments in Egypt reached 27 million pounds (about 1.5 million dollars) in 2016 compared to 13.2 million pounds (about 738,000 dollars) in 2015, an increase of 104.9 percent," said the CAPMAS report.
Egypt's ties with the United States greatly improved under the leadership of presidents Abdel-Fattah al-Sisi and Donald Trump compared to the time of former U.S. President Barack Obama, whose administration suspended the annual 1.3-billion-dollar military aid to Egypt after the military removal of former Islamist President Mohamed Morsi in July 2013. and the later.

    Related News

      Financial Times

    • Fed fears market misreading of guidance
    • The US Federal Reserve is keen to revamp its forward guidance about future interest rates but terrified of a market misunderstanding, according to the minutes of its September meeting

      Reuters

    • Asian shares rebound after Fed renews dovish credentials
    • Asian shares bounced back and the dollar fell on Thursday after minutes of the U.S. Federal Reserve's latest policy meeting showed policymakers have some concerns about downside risks to the global economy and the dol...

      USA TODAY

    • Nigeria succeeds at containing Ebola
    • People here are shaking hands again, kissing, hugging, touching. These days, shops are open, people are working, and children are finally going back to 
      school
    Chinese Dictionary: