THE EGYPTIAN TRADE BALANCE WITH THE MOST IMPORTANT ECONOMIC BLOCS

Dahdouh, Selem M.S.

doi:10.21608/sinjas.2020.96444

THE EGYPTIAN TRADE BALANCE WITH THE MOST IMPORTANT ECONOMIC BLOCS

Author

Selem M.S. Dahdouh

Dept. Econ., Inst. Comp. and Mang. Info. Systems , Cairo, Egypt.

10.21608/sinjas.2020.96444

Abstract

The research problem is that although Egypt signed many trade agreements and joined many global economic blocs that are supposed to contribute to increasing the trade flow between Egypt and these countries, the statistics indicate weak economic performance in the field of foreign trade, where the value of The total exports amounted to about $ 26.2 billion in 2017, while the value of total imports was estimated at about $ 66.5 billion in 2017, which means that there is a deficit in the total trade balance estimated at $ 40.2 billion, while the rate of export coverage of imports was estimated at 39.5%. The results showed that the markets of the European Union, the Arab countries, and the fifteen countries are the most receiving countries for Egyptian exports, as they absorb about $ 19.4 billion, equivalent to about 76.41% of the total value of Egyptian exports, which amount to about $ 25.5 billion during the average period (2013-2017). While it imports about $ 36.8 billion, equivalent to about 52.27% of the total value of Egyptian imports, which amounted to about $ 70.4 billion during the average of the same period. The foreign trade between Egypt and the markets of the European Union, the Arab countries, the fifteen countries, and the COMESA also had a positive impact on Egyptian exports, as it was found that the value of Egyptian exports increased annually by about 10.3%, 13.37%, 13% and 14.5%, respectively.

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