Trade exchange between Egypt and the United Kingdom marked an annual increase of 9.4 percent during the first nine months of 2019, recording£1763.8 million, according to the Egyptian Commercial Office in London.
The commercial office said in its latest report on the development of economic relations between the two countries that Egyptian exports to the United Kingdom amounted to about £720.8 million during the period from January to September 2019, compared to £680.8 million during the same period of 2018, with an increase of 5.8 percent.
It added that the most important Egyptian exports during the past 3years were represented by electric cables, Mineral oils, petroleum products, fertilizers, vegetables and fruits, garments, inorganic chemicals, plastics and products thereof, textiles, carpets, floor coverings, iron and steel products, ceramics and its products, paper products, and furniture.
Egypt’s imports from UK reached £1043 million, up from £931 million during the same period of the prior year, according to the report.
The most important imports from UK during the last 3years included Iron and steel products, pharmaceutical products, equipment and machinery, potato seeds, machinery, appliances and electrical equipment, mineral and petroleum fuels, vegetables, plastics and products thereof, oils and aromatic plants.
The reportrevealed that total British investment in Egypt recorded $5.348 billion, mainlyin the industrial sector. “UK ranked first globally in terms of foreign direct investment in Egypt,” it noted.
Her Majesty Trade Commissioner (HMTC) for Africa Emma Wade-Smith said Monday that Egypt is one of the main markets in Africa attracting direct investment in relation to the United Kingdom.
Wade-Smith told Extra News TV channel that the African continent has made great progress, particularly in trade and investment, during Egypt’s presidency of the African Union.
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