12 December 2019 12:35 AM

Economic Relations

Thursday، 30 March 2017 01:59 PM

The United States is the largest economic partner to Egypt since the late seventies, while Egypt ranked 52nd in the list of major US trade partners.

On September 19, 2019, the Egyptian Commercial Representation Agency announced the increase in the volume of trade exchange between Egypt and the United States during the first 7 months of 2019 to reach $5.35 billion up from $4.47 billion in the same period of 2018, a rise of $884 million or 19.7% thus, the trade balance deficit between the two countries decreased by 8.7% during that period.

The total value of Egyptian exports to the United States increased by 5.37% during the period January - July 2019 to reach $1.9 billion compared to $1.37 billion during the same period of 2018, with an increase of about $517 million.

The Agency pointed out that the Egyptian non-oil exports increased by 31.7% to reach $1.22 billion compared to $933.2 million in the same period in 2018, with an increase of $295.9 million, where non-oil exports constituted 65% of our total exports to the United States.

The Agency added that the Egyptian petroleum exports rose to $662.9 million during the aforementioned period compared to $441.8 million during the same period in 2018, with an increase of 50%, valued at $221.1 million, where these products represented about 35% of the total Egyptian exports.

Exports of Qualified Industrial Zones (QIZ) increased by 14.3% to reach $586.8 million during the aforementioned period compared to $513.2 million during the same period of 2018, and exports under the Generalized System of Benefits (GSP) increased by 112.1% to reach $112.3 million compared to $52.9 million during the same period of 2018.

The Agency pointed out that the value of Egyptian imports from the United States amounted to $3.46 billion compared to $3.09 billion in the same period of 2018, with an increase of 11.8%, valued at $367 million.

According to the Agency, the most important items of Egyptian exports were textiles and garments valued at $660.4 million, representing 35% of total exports to the United States, pieces and works of art valued at $117.7 million, plastics and products valued at $62.2 million, salt, sulfur and limestone valued at $57.3 million, iron and steel valued at $52.9 million, fertilizers valued at $47.9 million, and aluminum and its products valued at $41.7 million.

The Agency added that preparations of vegetables or fruit represent $21 million of total exports, preparations of meat or fish valued at $19.5 million, glass and its products valued at $18.9 million, vegetables valued at $16.8 million, seeds and fruits valued at $11 million, essential oils valued at $9.1 million, paper and cardboard valued at $8.9 million, tea, coffee and spices valued at $7.1 million, and fruit valued at $6.9 million.

The most important items of Egyptian imports from the United States were transportation spare parts valued at $840.1 million, cereals, seeds and oil seeds valued at $491.8 million, fuel and oils and their products valued at $393 million, mechanical machinery valued at $272.9 million, cars, vehicles and their spare parts valued at $192.6 million, cereals valued at $165.5 million, plastics and its products valued at $ 162.5 million, equipment and electrical appliances and spare parts valued at $ 131.4 million.


The institutional framework governing the economic relations between the two countries is the Framework Agreement on Trade and Investment TIFA, which held its last meetings in Washington late November and early December 2005 at ministerial level (Minister of Trade and Industry and U.S. Trade Representative).

Contractual Framework

The Qualifying Industrial Zones (QIZ) Agreement between Egypt and the United States of America and Israel signed on December 14th, 2004.

Convention on Judicial Assistance on Criminal Matters between the Governments of the Arab Republic of Egypt and the United States of America.

Convention on the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income, between the governments of the Arab Republic of Egypt and the United States of America.

Convention on Agricultural Exports & Rural Incomes between the Arab Republic of Egypt and the United States of America.

Convention on the Strategic Objective of improving Health and Family Planning between the Arab Republic of Egypt and the United States of America.

Convention on the Reciprocal Promotion and Protection of Investments and the Supplementary Protocol between the Arab Republic of Egypt and the United States of America.

Convention on the Participatory Rural Appraisal and Planning between Egypt and the United States of America.

Cultural Agreement concluded between the United Arab Republic of Egypt and the United States of America.

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