Egypt, US trade exchange hits $9.1B in 2021

CAIRO - 10 February 2022:The trade exchange between Egypt and US recorded $9.1 billion  in 2021, head of the Egyptian Commercial Services bureau in Washington Ahmed Antar said Wednesday.

 

Egypt's exports to US hit $3.3 billion, while imports reached $5.8 billion, he added in a forum held by Food Export Council in cooperation with the Egyptian Commercial Services.

 

Egypt exports to the US under GSP program achieved a 35.6 percent rise from January to November to hit $266.6 million, against $196.7 million from corresponding period of last year.

 

Egypt's exports under the GSP program are polyethylene, non-stick sheets, aluminum cans, barrels, mattresses and glass panels, non-woven products, juice products, frozen vegetables, paints, propylene, frozen strawberries, unpeeled or prepared cereals, molasses, polyethylene, natural mineral products, jams and fruit jellies, pickles, vegetables, fruits, nuts as well as gelatin and derivatives.

 

The U.S. Generalized System of Preferences (GSP) is a program that provides preferential duty-free treatment for 3,509 products from 122 beneficiary developing countries. The GSP program was initiated on January 1, 1976, and authorized under the Trade Act of 1974.