Egypt Independent

CAPMAS: Egypt’s exports to G7 nations rose to $3.8 billion in January-June



The Central Agency for Public Mobilization and Statistics (CAPMAS) stated on Saturday that Egypt’s exports to G7 countries rose by 8.8 percent during January-June 2019 to $3.8 billion, compared to $3.5 billion in the same period in 2018.

CAPMAS added that the US ranked first in the list of G7 importers of Egypt’s products with $1 billion imports during January-June 2019, followed by Italy and the UK with imports totaling $951.7 million and $719.1 million respectively.

Canada came in fourth place with imports totaling $341.4 million, followed by Germany, France, and Japan with imports totaling $339.7 billion, $330.6 billion, and $83.6 billion, respectively.

CAPMAS pointed out that Egyptian imports from the G7 countries increased by two percent, recording $8.7 billion during January-June 2019, up from $8.5 billion during the same period in 2018.

The US also ranked first in the list of G7 exporters to Egypt, with exports recording $2.7 billion, followed by Germany and Italy with exports totaling at $2.1 billion and $1.5 billion respectively.

France ranked fourth with exports totaling $861.1 million, followed by the UK, Japan, and Canada with exports totaling $773.5 million, $575.9 million, and $160 million respectively.

The trade exchange between Egypt and G7 countries recorded $12.4 billion during January-June 2019, compared to $12 billion during the same period in 2018.

CAPMAS showed that the value of net investments for the G7 countries in Egypt increased during January-June 2019 to record $3.8 billion, compared to $3.6 billion during the same period in 2018.

The UK topped the list of G7 nation investors with investments valuing $2.4 billion in January-June 2019, followed by US and Germany with investments totaling $1.1 billion and $115 million.

France ranked fourth with investments totaling $88.7 million, followed by Italy, Japan and Canda with investments valuing $51 million, $16.4 million, and $9.4 million respectively.

The Group of Seven (G7) is an international intergovernmental economic organization consisting of the seven largest IMF-described advanced economies in the world: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. As of 2018, the seven countries involved represent 58 percent of the global net wealth ($317 trillion) and more than 46 percent of the global gross domestic product (GDP) based on nominal values, and more than 32 percent of the global GDP based on purchasing power parity.

Edited translation from Al-Masry Al-Youm