The value of trade between Egypt and Saudi Arabia increased by 32.9% during the first 5 months of 2022, reaching $4.539 billion, compared to $3.414 billion, year-on-year, accounting for 7.1% of Egypt’s total foreign trade. The value of trade between the two countries increased by 3.1% during May, reaching $839.11 million, compared to $813,573 million during the same month of 2021, according to the foreign trade bulletin issued by the Central Agency for Public Mobilization and Statistics (CAPMAS). The value of the trade balance deficit between Egypt and Saudi Arabia increased to about $2.65 billion during the first 5 months of 2022, compared to $1.631 billion during the same period in 2021, an increase of 62.4%. Saudi Arabia accounted for 4% of Egypt’s exports during the period from “January-May 2022”, with a value of $944,389 million, compared to $891,259 million during the same period in 2021, a growth of 6%. The value of Egypt’s exports to Saudi Arabia declined in May to reach $152,388 million, compared to $185,647 million during the same month of 2021, down 17.9%.
42.5% growth in Egypt’s imports from Saudi Arabia within 5 months
Saudi Arabia accounts for 9% of Egyptian imports during the first 5 months of 2022, with a value of $3,594 billion, compared to $2.523 billion, year-on-year, with a growth of 42.5%. In May, imports reached $686,722 million, compared to $627,926 million, with a growth of 9.4%. Egypt’s imports of fuels, mineral oils and their distillation products from Saudi Arabia grew by 55.4% to reach $2,478 billion, compared to $1,595 billion. Paper products imports grew 44.6% to $43.731 million, compared to $30,233 million a year earlier. The value of Egypt’s imports of plastics and its products from Saudi Arabia increased by 21.5% to reach $688,327 million, compared to $566,329 million. Organic chemical products also rose by 41.9% to $119,574 million, compared to $84,269 million, while aluminum and its products imports grew by 14.2%, to $64,026 million, compared to $56,065 million.