Egypt’s exports to Group of Seven (G7) hiked to $3.8bn during the first six months of 2019, up from $3.5bn during the same period of 2018, an increase of 8.8%, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
The G7 consists of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. These countries with the seven largest IMF-described advanced economies in the world, representing 58% of the global net wealth ($37tn), and 46% of the global GDP based on nominal values, and more than 32% of the global GDP based on purchasing power parity.
The United States topped the list of the G7 countries in terms of Egyptian exports, reaching $1bn, followed by Italy with imports valued $951.7m, then the United Kingdom by $719.1m
Moreover, Canada ranked fourth by $341.4m, followed by Germany, France, and Japan by $339.7m, $330.6m, and $83.6m, respectively.
On the other hand, the CAPMAS stated that Egypt’s imports from the G7 in 1H19, recorded $8.7bn, up from $8.5bn during the same period of 2018, an increase of 2%.
Moreover, the United States topped the G7 countries in terms of exports to Egypt in 1H19, by $2.7bn, followed by Germany, Italy, and France by exports valued $2.1bn, $1.5bn, and $861.1m, respectively.
The United Kingdom came in the fifth place by $719.1m, followed by Japan and Canada with exports valued $575.9m and $160m, respectively.
“The value of trade exchange between Egypt and G7 reached $12.4bn in 1H19, compared to $12bn during the same period in 2018, an increase of 4%,” according to CAPMAS.
Regarding the net investments of G7 in Egypt, the CAPMAS showed that the group’s net investments in H1 of the fiscal year (FY) 2018/19 increased to $3.8bn, up from $3.6bn during the same period of the FY 2017/18, an increase of 5.7%.
The United Kingdom ranked first in terms of G7’s investments in Egypt by $2.4bn, followed by the United States, Germany, France, Italy, Japan, and Canada by $1.1bn, $115m, $88.7m, $51m, $16.4m, and $9.4m, respectively.