20 January 2018 05:06 PM

Economic Relations

Tuesday، 22 December 2015 12:00 AM

(by million US Dollar)

 

Year

 

2005

 

2006

 

2007

 

2008

 

2009

 

Egyptian Exports

27.3

94.8

29.7

135.5

31

 

Egyptian Imports

39.2

34.9

66.35

133.54

161

 

Trade Balance

-11.4

+59.9

-36.98

+2.09

-130

In spite of the fact that Egypt and South Africa are considered to largest Economies in the African Continent, the total trade between them is still under the expectations of the two countries who agreed to increase trade and investment relations through identifying business opportunities in the two countries, as this was one of the main issues discussed during the Joint

The Joint Commission meetings met in Pretoria in March 2010.

The Egyptian exports to South Africa was 31 million USD in 2009, and was 135.5 million USD in 2008 which included exporting Petro-Chemicals that was worth 120 million USD . On the other hand, the Egyptian Imports from South Africa increased in 2009 to reach 161 million USD compared to 133.5 million in the year 2008. 

Estimates of South African Revenue Service (average exchange rate: 1 USD = 7.5, in 2008 and 2009)

Despite the fact that Egypt and South Africa have the largest economies in the African continent, the volume of trade exchange does not rise to the level of both countries' economic and commercial potentials. The Joint Committee, which was held in March 2010, is considered a positive development in the Egyptian-South African relations. The Committee succeeded in eliminating the most significant obstacles facing trade exchange. Moreover, the expected visit of President Zuma, in October 2010 -during which he will be heading a businessmen delegation- will be an opportunity for strengthening and enhancing bilateral trade and economic relations.

The Egyptian exports to South Africa, in 2009, mounted to USD 31 million, compared to USD 135.5 million in 2008. Worth to mention is that the Egyptian exports to South Africa in 2008 included petrochemicals worth USD 120 million.

On the other hand, the Egyptian imports mounted to USD 161 million, compared to USD 133.5 million in 2008.

The most significant Egyptian exports to South Africa include fertilizers, materials for the manufacture of tires and spark plugs, porcelain sinks, while the most significant imports from South Africa include Toyota vehicles (USD 46 million in 2008), machineries, chemicals and tobacco.

A delegation from the South African Ministry of Industry and Trade visited Cairo and negotiated with Egyptian officials from the Ministry of Industry and Trade, the Ministry of Agriculture, and a number of businessmen associations to prepare for the visit of Preisdnt Zuma.

Exchanged Investments

There is no official information about the Egyptian investments in South Africa, as most of these investments are small and individual, and operated by resident Egyptians.

The South African investments mounted to USD 20.6 million, in 2007, the majority of this sum is invested in the fields of oil, services, communications, and land reclamation.

 


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