What Are Egypt's Exceeding Imports & Exports?
Egypt occupies a answer aim in the Centre East. Decent west of the Bloodshot Sea and bordering Saudi Arabia, Jordan and Israel to the east, Libya to the west and Sudan to the south, Egypt is strategically located and controls big drench money as the household of Lake Nasser and the mighty Nile river very as the Suez canal. (Ref. 3.)
Main Sources of Imports
Until the behind 1970s, Egypt's economy was mainly based on Commerce with Eastern Europe, however after the Camp David accords and quiet with Israel, Commerce with both the U.S and Europe grew rapidly, with European trade partners accounting for 40 percent of Egypt's imports and the U.S. representing 15 to 20 percent (Ref. 1).Main Egyptian Exports
Egypt exported over $29 billion dollars worth of products in 2009.Main Egyptian Imports
Egypt imported $56.2 billion valuation of goods in 2009. Egypt does not acquire a excessive industrial mould and ergo imports nearly all of their money goods such as gadgetry and Accoutrement. Board represents approximately 20 percent of Egypt's imports, and industrial chemicals, wood products and rarefied fuels are besides imported in powerful quantities (Ref. 1).Oil was by far the largest export at over 155,000 barrels a day. Egypt also exports a number of metal products (industrial and finished), cotton, textiles and chemicals (Ref. 1). Egypt's 2010 exports are expected to drop by 18 percent to just under $25 billion due to the worldwide recession and drop in oil prices (Ref. 2).
Main Export Partners
Italy is Egypt's biggest export partner, accounting for 9 percent of Egypt's exports in 2009. The U.S. is second, followed by several European countries and India. Almost 40 percent of Egypt's exports are bought by European Union countries (Ref. 1).
