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Egypt's exports to U.S. rise 12.3 percent

Staff Writer |
Egypt's exports to the U.S. reached 10.6 billion Egyptian pounds ($592.5 million) in 2016, marking a 12.3 percent year-on-year increase, said Egypt's statistics authority on Sunday.

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"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 ($329.8 million) 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 ($1.87 billion) in 2015 to 36.5 billion pounds ($2 billion) in 2016.

"U.S. investments in Egypt reached 27 million pounds ($1.5 million) in 2016 compared to 13.2 million pounds ($738,000) in 2015, an increase of 104.9 percent," said the CAPMAS report.

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