The value of trade between Egypt and Turkey increased during January to reach $419.4 million compared to $412.966 million, year-on-year, with a slight growth of 1.6%.
Egypt’s trade deficit with Turkey worth $116 million
The trade movement between the two countries had witnessed a decline of 12.3% during the year 2020 to record $4.675 billion compared to $5.333 billion during 2019, due to the impact of the pandemic.
The foreign trade report issued by the Central Agency for Public Mobilization and Statistics (CAPMAS) stated that the trade balance between the two countries goes in favor of Turkey with a value of $116.572 million during January, adding that Turkey accumulates 5.1% of Egypt’s total foreign trade during this month.
Egypt’s exports to Turkey grows 5.6%
The value of Egypt’s exports to Turkey increased in January to record $151.414 million, compared to $143.344 million, year-on-year, with a growth of 5.6%, receiving 6.1% of the total value of Egyptian exports.