$1 billion deficit in Egyptian trade balance with European Union

A study issued through the Egyptian Industries Union stated that the trade balance deficit between Egypt and the EU during the first half of the current year valued at $1 billion.

The study stated that during this period, Egyptian exports to the EU were worth $338 million, while the Egyptian imports from EU amounted to $1.34 billion. Moreover the study said that Egyptian exports to the EU mainly consisted of petroleum and its derivatives forming 20% of the total exports, in addition to textiles, cotton, ready-made clothes, furniture, wood and leather products.